The virtual reality (VR) headsets market is expected to reach grow at a CAGR of 23.37% between the forecast period of 2018 to 2024. A VR headset is a device mounted at the head that provides virtual reality experience in games, videos, movies to the wearer. It comprises of a stereoscopic head-mounted display and head motion tracking sensors to provide an extraordinary experience to the users. Increasing adoption of VR in advanced gaming consoles is expected to propel the market growth during the forecast period. There are huge investments being done in R&D to bring out the state-of-art technology by the manufacturers to gain a competitive advantage over the other market players shows the growth of this market over the next five years. For instance, the innovation of eye sensors in the headsets which track the eye movements of the users to improve the VR experience. Furthermore, the growing adoption of VR in the advertisement industry, military sector is expected to drive the demand. However, increasing penetration of smartphones coupled with the development of VR and 3D applications is another factor which is expected to augment the market demand for VR headsets. However, high costs of these headsets and health concerns related with the use of VR headsets for a longer period are expected to be the restraining factor for the growth of this market over the next five years.
Increasing adoption of VR across various end-users.
Improvement in technology.
High costs of VR headsets.
Growing health concerns regarding prolonged usage of these headsets.
In late 2017, Apple acquired VR headset startup Vrvana for US$30 million.
In March 2018, HTC Vive and a global gaming leader IGT entered into an agreement to deliver world-class VR Casino Entertainment. In this HTC Vive Studio is marked the first foray into the casino entertainment and completion of IGT’s first VR solution.
The major players profiled in the virtual reality (VR) headsets market include Facebook, Technologies, LLC., Google, HTC, Fove, Inc., Samsung Electronics Co., Microsoft, Avegent Corp., Sony Corporation, and LG Electronics among others.
The virtual reality (VR) headsets market has been analyzed through the following segments:
Middle East and Africa