Norway VR Headset Market Size, Share, Opportunities, And Trends By End-Device (Low-End Device, Medium-Range Device, High-End Device), By End-User (Media And Entertainment, Hospitality, Education, Others), And By Geography - Forecasts From 2024 To 2029

  • Published : Feb 2024
  • Report Code : KSI061611477
  • Pages : 114

Norway VR Headset Market was valued at US$34.717 million in 2022 and is projected to expand at a CAGR of 29.89% over the forecast period to reach US$216.54 million by 2029.

VR (Virtual Reality) headsets are devices worn over the eyes, similar to goggles, that provide immersive experiences in virtual surroundings. These headsets often include a head-mounted display (HMD), which has lenses that divide the screen into two pictures, one for each eye, resulting in a stereoscopic 3D experience.

Some of the key components of the force gauge are head-mounted display (HMD), positional tracking, controllers, input devices, and audio systems. The fundamental component of a VR headset is the Head-mounted Display (HMD), which houses high-resolution LCD or OLED panels that provide crisp pictures. Some headsets additionally include changeable lenses, allowing for comfortable seeing at various interpupillary distances.

Advanced VR headsets employ positional tracking technology to detect user motions in real time, allowing for interaction with the virtual world. Accuracy and reactivity are critical for a smooth and realistic VR experience.

VR headsets are frequently combined with portable controllers to allow users to interact with and navigate virtual environments. These controllers can employ buttons, triggers, thumb sticks, touchpads, or hand tracking to provide more natural interactions in the absence of physical controllers.

VR headsets frequently have integrated audio systems, such as built-in headphones or earbuds, enabling immersive 3D audio experiences, which use spatial audio technology to imitate sound sources in 3D space.

VR headsets enable immersive, interactive experiences for gaming, entertainment, education, and training, thanks to technological improvements. They're now more accessible, comfy, and capable of providing immersive experiences.Top of Form

Market Drivers

  • Advancements  in the gaming and entertainment industry are fueling the growth of the VR headset market-

Virtual concerts and immersive storytelling are broadening the attraction of VR technology beyond gaming, since it is increasingly being used in other entertainment areas, such as gaming, to improve the immersive gaming experience and overall gameplay.

Among various VR headsets available in the market Samsung Gear VR is one of them. Samsung Electronics collaborated with Oculus VR to produce the Samsung Gear VR, a virtual reality headset. The gadget has a focus wheel, trackpad, home and back buttons, volume rockers, and a USB-C connection. The Samsung Electronics VR headset allows users to change focus, volume, and home and return buttons while giving a comfortable and immersive experience.

Another force gauge is the Apple Vision Pro is Apple's first 3D camera, capable of transforming any area into a personal theatre. It shoots spectacular spatial images and videos in 3D, relives beloved memories with immersive Spatial Audio, and scales films, programs, and games to the ideal size.

Demand for VR headsets is increasing as gaming and entertainment become more popular, driving immersive content production, extending VR ecosystems, and encouraging gaming technology innovation. As VR gaming advances, it alters entertainment and media experiences

  • Increasing demand for remote work and virtual meetings are contributing to the growth of the VR headset market

The COVID-19 epidemic has spurred remote work adoption, resulting in increased interest in virtual reality (VR) solutions for virtual meetings, offices, and events, since VR headsets provide immersive, engaging alternatives to standard video conferencing. 

Sony's PlayStation VR has twin lenses, 3D depth sensors, and a PlayStation Camera that monitors the headset, PlayStation Move controller, and DUALSHOCK 4 wireless controller from all angles. Nine LEDs on the headgear allow accurate location inside the game environment.

The growing need for remote work and virtual meetings is pushing the adoption of VR headsets by businesses, professionals, and organizations seeking immersive solutions for distant collaboration, communication, training, and productivity improvement. As VR technology advances, it is projected to dramatically impact the future of remote work and virtual collaboration.

Market Restraints:

  • Technical limitations and performance issues hamper the growth of the market

VR technology has technological constraints and performance difficulties that might impact the user experience. Motion sickness, screen-door effect, latency, and tracking problems can all reduce the immersive quality of VR experiences, causing users to feel uncomfortable or frustrated. Addressing these technological problems and optimizing performance is critical to guaranteeing widespread adoption and acceptance of VR headsets.

Norway's VR headset market is segmented based on its various device types-

Norway's VR headset market is segmented based on its different device types. Tethered VR headsets, such as the Oculus Rift, HTC Vive, and PlayStation VR, provide sophisticated features such as high-resolution screens, positional tracking, and room-scale VR capabilities, but need a cable connection to a powerful computer or game console.

Standalone VR headsets, like the Oculus Quest and Oculus Quest 2, are self-contained devices that combine all essential components into a single unit, making them portable and convenient in a variety of scenarios.

Console VR headsets are built for game consoles such as the PlayStation 4 or 5, and use their processing capacity to provide immersive experiences. These headsets, such as PlayStation VR, provide exclusive games and content designed just for the platform.

Key Developments:

  • September 2023- Meta revealed the Quest 3, the world's first mass-market mixed reality headset, powered by the Snapdragon XR2 Gen 2 platform, which has twice the visual processing capability of the Quest 2. The headgear provides lightning-fast load speeds and stunning detail in immersive games, letting users solve problems in space or interact with pals across the world.  
  • January 2023 – Holoride, a pioneer in extended reality in-vehicle entertainment, introduced the Holoride retrofit, a small device that adapts the company's unique platform to automobiles of any make, model, or year. The gadget, about the size of a smart speaker, represents a new chapter for the Munich-based firm.

Company Products:

  • VIVE Pro 2 – HTC's VIVE Pro 2 VR headset has the maximum resolution per eye at 2448 x 2448 and a refresh rate of up to 120Hz. It has the finest visual quality in comparative tests, with high-fidelity titles like Half-Life: Alyx and Asgard's Wrath playing admirably. The Vive Pro 2 also has vibrant colors and optimal brightness, making it a fantastic choice for VR gaming.

Market Segmentation:

  • By End-Device
    • Low-end device
    • Medium-range device
    • High-end Device
  • By End-User
    • Media and Entertainment
    • Hospitality
    • Education
    • Others

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

1.8. Key benefits to the stakeholder

2. RESEARCH METHODOLOGY

2.1. Research Design

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

4.5. Russia-Ukraine War Impact Analysis

5. NORWAY VR HEADSET MARKET BY END-DEVICE

5.1. Introduction

5.2. Low-end device

5.2.1. Market opportunities and trends

5.2.2. Growth prospects

5.3. Medium-range device

5.3.1. Market opportunities and trends

5.3.2. Growth prospects

5.4. High-end device

5.4.1. Market opportunities and trends

5.4.2. Growth prospects

6. NORWAY VR HEADSET MARKET BY END-USER INDUSTRY

6.1. Introduction

6.2. Media and Entertainment

6.2.1. Market opportunities and trends

6.2.2. Growth prospects

6.2.3. Geographic lucrativeness 

6.3. Hospitality

6.3.1. Market opportunities and trends

6.3.2. Growth prospects

6.3.3. Geographic lucrativeness 

6.4. Education

6.4.1. Market opportunities and trends

6.4.2. Growth prospects

6.4.3. Geographic lucrativeness 

6.5. Others

6.5.1. Market opportunities and trends

6.5.2. Growth prospects

6.5.3. Geographic lucrativeness 

7. COMPETITIVE ENVIRONMENT AND ANALYSIS

7.1. Major Players and Strategy Analysis

7.2. Market Share Analysis

7.3. Mergers, Acquisition, Agreements, and Collaborations

7.4. Competitive Dashboard

8. COMPANY PROFILES

8.1. LumenVox Oculus VR, LLC

8.2. HTC Corporation

8.3. AUKEY

8.4. Sony Corporation

8.5. SAMSUNG


Oculus VR, LLC

HTC Corporation

AUKEY

Sony Corporation

SAMSUNG