Global Virtual Reality (VR) Market 2018-2023: Revenue is Expected to Grow at 54.84% CAGR

Overall global VR revenue is expected to grow at 54.84% CAGR from 2018 to 2023.

Previously encumbered by a combination of technology gaps and consumer readiness issues, Virtual Reality is poised for considerable global growth, providing abundant opportunities for service providers, content developers, and ecosystem component providers.

Anticipated VR growth is driven by a few important factors including an anticipated precipitative price decline for consumer headsets, which will spur VR device adoption and facilitate VR application and content development to reach an inflection point.

It is important to note that Virtual Reality and other immersive technologies will also be important to many industry verticals that leverage VR and mixed reality for a variety of enterprise purpose including internal operations, managing supply chains, and supporting customers. Important industry verticals include commercial real estate management, automotive, public safety, education and training. The leading sector is anticipated to be Education and Training, which is expected to grow to $2.2B USD in revenue by 2023.

Thanks to low-cost VR device options such as Google Cardboard, consumers are becoming increasingly aware of Virtual Reality and immersive technologies in general. Untethered, high bandwidth VR is another important market driver. The publisher expects to see mass adoption of full-featured, mobile supported, and fully immersive VR technologies coincident with commercial deployment of 5G. The advent of Mobile Edge Computing (MEC) is also anticipated to have a substantial impact on VR as MEC will provide much-needed computational optimization, especially for LTE only coverage areas and while roaming.

This research provides an in-depth assessment of the VR market including the following:

Forecasts in Report

Shipment forecasts in the report include:

Revenue forecasts in the report include:

The above listed forecasts are merely a sampling as there are many more. In addition, purchase of this report includes time with an expert analyst who will help you link key findings in the report to the business issues you're addressing. This needs to be used within three months of purchasing the report.

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For more information about this report visit https://www.researchandmarkets.com/research/whsf88/virtual_reality

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