FELTON, Calif., Feb. 2, 2021
FELTON, Calif., Feb. 2, 2021 /PRNewswire/ -- The global virtual reality (VR) headsets market size is anticipated to value USD 19.78 billion until 2025. It is also expected to register a CAGR of 21.5% over the forecasted years, 2019 to 2025. The shifting trend towards enhancing virtual experience across applications like retail, entertainment, media and gaming is anticipated to fuel up the demand for VR headsets.
The product segment of standalone PC-connected VR headsets held a dominant share across the global market in 2018 due to their cost-effective nature. It is also anticipated to account for the fastest growth over the forecasted period, 2019 to 2025. Also, the demand for smartphone-enabled and pc-enabled VR headsets is expected to surge over the upcoming years owing to their benefits like application-based pricing and ease of usage.
The segment of gaming dominated the global market on account of their feature of providing enhanced user experience provided by the VR headsets coupled with surging infiltration of gaming consoles across the globe. While the retail application segment is projected to account for substantial growth in the upcoming years owing to their rising popularity among retailers for amplifying the shopping experience.
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In 2018, Asia Pacific held the largest share across the global market owing to the increasing usage of VR-technology based devices prevailing among the millennial population. Europe and North America are showing more adoption of VR based products and devices owing to their popularity across many organizations.
The VR headset market includes key players such as Google Inc., Microsoft Corporation; Sony Corporation; Facebook Inc.; and HTC Corporation. They are investing hugely in product development and innovation to gain a competitive advantage and to widen their geographical reach.
Further key findings from the report suggest:
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Million Insights has segmented the global virtual reality headsets market on the basis of product type, end device, application type and region:
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