Virtual Reality Segmentation
Component (Hardware, Software, Content)
The hardware segment is projected to account for 63.1% of the global virtual reality (VR) market share through 2037. The growing adoption of advanced VR systems across consumer and enterprise use cases is directly contributing to the hardware segment's growth. The ongoing innovations in haptic gloves and motion-sensing suits are fueling the demand for virtual reality systems and subsequently their hardware components. The increasing demand for advanced semiconductors and specialized chipsets is leading to the production of high-performance virtual reality technologies.
Device Type (Head-Mounted Display (HMD), Gesture-Tracking Devices, Projector & Display Walls)
The head-mounted display (HMD) segment is foreseen to hold 64.9% of the global revenue VR market share throughout the forecast period. The widespread adoption in both consumer gaming and professional training environments is set to propel the sales of head-mounted display VR solutions. The ongoing advancements in wearable devices are expected to fuel the adoption of head-mounted display technologies in the coming years. For instance, in 2023, U.S. military partnerships with defense suppliers under the Defense Innovation Unit (DIU) for immersive training HMDs resulted in a 22.3% year-over-year growth in government HMD procurement. Healthcare and defense are emerging as the most profitable markets for head-mounted VR display manufacturers.
Our in-depth analysis of the global virtual reality market includes the following segments:
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