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Aug 10, 2020 (AmericaNewsHour) -- Naturally, the definition of Virtual Reality is 'Near-Reality' although technically we can say that Virtual Reality describes a three-dimensional world which is generated by a computer-generated environment. This environment is free to be explored and interacted by a person. The person blends into this world of virtual reality and is able to manipulate objects and perform various actions.
There are various range of systems which help us create this illusion of reality such as headsets, omni-directional treadmills, special gloves and lot more. To physically create the illusion of reality is more difficult to construct than it sounds. This is owing to the fact that our brain and senses are evolved to provide us a synchronized and mediated experience. Even if there is a minor glitch, we will be able to distinguish clearly. Thus, immersiveness and realism are the key factors in this technology. There are various commercial applications of this technology in high-performance computers, VR Games applications, consumer electronics, medical and many more.
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Market DynamicsThe market is driven by declining prices of VR hardware. Due to the increase in usage of this technology, the prices of various VR components like the VR Headsets and VR cardboards are set to decline . The rising demand of smartphones will complement to the growing sales of VR devices. Further, VR Headsets are stated to be the next big thing in personal entertainment. However, lack of awareness about VR technology, high initial investment, compatibility issues with virtual reality devices with VR consoles pose a great challenge to an otherwise budding industry.
Market SegmentationThe Market is segmented on the basis of platform, component and technology verticals. The platform vertical comprises of Mobile, PC and Console. Among these the major revenue-contributor is the mobile gaming segment. Upcoming trends like the integration of VR and augmented reality in mobile games are expected to give high revenue to this segment. By component it is divided into Hardware and Software. Hardware amounts for more than XX% of the total market revenue. With brand like Samsung, Oculus, and Sony stated to launch affordable VR Head Mounted Displays (HMDs) this segment is stated to continue its dominance.
Regional/Geographic AnalysisThe market was heavily dominated by the US this is owing to the extensive investment in the R&D and presence of several major players in this region. Lately, there has been a tremendous rise in the Asia Pacific region and is expected to grow faster as the technology has gained prominence owing to the launch of innovative VR headsets targeted for the booming VR gaming industry.
Key PlayersSome of the major players in the market include Barco,Google, Microsoft, Facebook, Samsung, Qualcomm Vuforia, METAIO's SDK, total immersion, Sony CyberGlove Systems LLC, -Oculus VR LLC, Alphabet, Inc., HTC Corporation and Leap Motion
Report ContentsRegional AnalysisReport HighlightsMarket segmentsMarket Drivers, Restraints and OpportunitiesMarket Size & Forecast 2016 to 2022Supply & Demand Value ChainMarket - Current TrendsCompetition & Major CompaniesTechnology and R&D StatusPorters Five Force AnalysisStrategic and Critical Success Factor Analysis of Key Players
North AmericaUS and Canada
Latin AmericaMexico, Brazil, Argentina and Rest of Latin America
Western EuropeEU5 (Germany, France, Italy, Spain, U.K.)Nordic Countries (Denmark, Finland, Norway, and Sweden)Benelux (Belgium, The Netherlands, and Luxembourg)Rest of Western Europe
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Eastern EuropeRussiaPolandRest of Eastern Europe
Asia PacificChinaIndiaJapanAustralia and New ZealandRest of Asia Pacific
Middle East and AfricaGCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)South AfricaNorth AfricaRest of Midd le East and Africa
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The post Virtual Reality Market 2020-2022 / By Industry Type, By Brand and major players appeared first on America News Hour.
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