Virtual Reality Headset Market Size Worth $19.78 Billion By 2025
By: Gaurav Shah
Tags: Gaming, Germany, Mexico, Education, Virtual Reality

The global virtual reality headset market size is expected to reach USD 19.78 billion by 2025, registering a 21.5% CAGR from 2019 to 2025, according to a new study published by Grand View Research, Inc. Rising adoption of Virtual Reality (VR) electronic units in various sectors including entertainment, retail, healthcare, manufacturing, and telecommunications is anticipated to drive the growth.

Introduction of advanced headset models is expected to further drive the market for virtual reality headsets over the forecast period. Proliferation of the sales of smartphones and consumer electronics is anticipated to further fuel the growth. Smartphone-enabled headsets are expected to drive substantial demand as the manufacturers introduce mobile VR headsets using third-party mobile devices as the screen. This not only decreases the overall cost but also opens avenues for mobile application developers.

Furthermore, the costs associated with the technology has reduced significantly, thus the adoption of headsets in various application area has witnessed exponential growth across various industry verticals. The emergence of consumer VR coupled with falling Average Selling Price (ASP) of devices is expected to drive the market growth over the forecast period. However, lack of content and health-related issues such as motion sickness, hygiene, and comfort may restraint the growth of the VR headset market.

There has been a significant advancement in the evolution of VR peripherals which will be supported by the major game consoles and desktops. The market for wearable devices like the head-mounted displays, bodysuits, gloves, motion trackers, among others, is expected to witness a high demand from gaming enthusiasts.

Video game companies are rapidly adopting the VR technology to create games that are life-like and offer the most amazing experience. Virtual reality headsets have made a tremendous change in gaming industry and has given the participants a platform to be a part of the virtual domain with a real life-like feel. The wearable VR as VR headset gaming is expected to offer significant growth opportunities to the market players over the forecast period. Furthermore, the entertainment industry is anticipated to present immense growth opportunities for virtual reality devices and aligned solicitations. Entertainment segment has always presented itself as a novel adopter in implementing technologies to deliver enhanced user experience to its users.

The concept of applying virtual reality to entertainment-related plans is attracting the movie industry. The combination of VR/AR technology could create an immersive experience for the movie viewers in near future; 3D film characters could appear in front of, on the side, or behind the viewer, and as the story unfolds, the viewer could interact with the movie characters. For example, Magic Leap, an augmented reality company, offers a visualization technology to the user and allows interaction between the real world and fictional characters.

Click the link below:

https://www.grandviewresearch.com/industry-analysis/virtual-reality-vr-headset-market

Further key findings from the report suggest: