The virtual reality services global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Virtual Reality Services Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The virtual reality services market size has grown rapidly in recent years. It will grow from $10.02 billion in 2023 to $11.22 billion in 2024 at a compound annual growth rate (CAGR) of 12.0%. The growth in the historic period can be attributed to increasing demand in gaming and entertainment, corporate adoption and training, reduced costs and accessibility, content creation and industry investment, cinematic and media experiences.
The virtual reality services market size is expected to see rapid growth in the next few years. It will grow to $18.54 billion in 2028 at a compound annual growth rate (CAGR) of 13.4%. The growth in the forecast period can be attributed to 5g technology integration, enterprise and industrial applications, healthcare and therapeutic use, immersive social experiences, augmented reality integration. Major trends in the forecast period include vr in e-commerce and retail, location-based entertainment, travel and tourism experiences, cross-industry collaboration, virtual social spaces.
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Scope Of Virtual Reality Services Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Virtual Reality Services Market Overview
Market Drivers –
The virtual reality services in telehealth is a key factor driving the growth of the virtual reality services market. To support COVID-19 patients, thousands of doctors and nurses will require advanced skills, which will be supported by VR-powered tools to cope in a simulated world with an anticipated influx of COVID-19 patients. Training services by virtual reality designed particularly for coronavirus pathology scenarios are highly beneficial and realistic in today’s situation and enable medical students, doctors, and nurses to quickly apply studied principles and procedures to the real world. For instance, the XRHealth application allows the hospitals to treat incoming coronavirus victims who are in hospital quarantine and it allows the physicians to monitor them when they return home. Therefore, the increasing necessity of virtual reality services in telehealth is expected to drive the significant virtual reality services market growth.
The virtual reality services market covered in this report is segmented –
1) By Type: Hardware, Software
2) By Basis of Service: Consulting, Training, Implementation, Integration, Operation, Maintenance
3) By Application: Healthcare, Education, Real Estate, Advertising, Travel, Gaming, Entertainment, Other Applications
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Regional Insights –
Asia-Pacific was the largest region in the virtual reality services market in 2023. North America was the second largest region in the virtual reality services market. The regions covered in the virtual reality services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the virtual reality services market include Skywell Software LLC, LittlStar’s, Creative Solutions, Gramercy Tech LLC, HQSoftware LLC, Program-Ace LLC, Groove Jones LLC, Xicom Technologies Ltd., Zco Corporation, The Intellify, Quy Technology Pvt. Ltd., Fluper Ltd., JPLoft Solution, Credencys Solutions Inc., HorizonCore Infosoft Pvt. Ltd., Quytech Company, Hedgehog lab Ltd., IndiaNIC Infotech Limited, Chetu Inc., Vakoms LLC, Delta Reality, Dyfuzja Software Development Co., Cortex Inc., Chocolate Milk & Donuts LLC, NARSUN Studios, Setapp Inc., Oodles Technologies Pvt. Ltd., Infotrum LLC, Sumeru Inc., NewGenApps, HTC Corporation, Sony Group Corporation, Oculus VR LLC, Google LLC, Samsung Electronics Co. Ltd., Lenovo Group Ltd., Meta Platforms Inc., NVIDIA Corporation, Apple Inc., Amazon Inc., Unity Technologies Inc., Unreal Engine 3D, Autodesk Inc., Eon Reality Inc., 3D Systems Corporation, Dassault Systèmes SE, Pico Interactive Inc., StarVR Corporation, FOVE Inc.
Table of Contents
1. Executive Summary
2. Virtual Reality Services Market Characteristics
3. Virtual Reality Services Market Trends And Strategies
4. Virtual Reality Services Market – Macro Economic Scenario
5. Global Virtual Reality Services Market Size and Growth
…
31. Global Virtual Reality Services Market Competitive Benchmarking
32. Global Virtual Reality Services Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Virtual Reality Services Market
34. Virtual Reality Services Market Future Outlook and Potential Analysis
35. Appendix
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