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Virtual Reality Services Global Market Report 2021 - COVID-19 Growth And Change
The Business Research Company's Virtual Reality Services Market Global Market Report 2021 - COVID-19 Growth And Change
LONDON, GREATER LONDON, UK, September 15, 2021 /EINPresswire.com / -- According to the new market research report 'Virtual Reality Services Global Market Report 2021: COVID-19 Growth And Change' published by The Business Research Company, the virtual reality services market is expected grow from $0.93 billion in 2020 to $1.41 billion in 2021 at a compound annual growth rate (CAGR) of 51.6%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $6.5 billion in 2025 at a CAGR of 47%. The virtual reality services in telehealth is a key factor driving the growth of the virtual reality services market.
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The virtual reality services market consists of sales of virtual reality services and related products such as joysticks, force balls/tracking balls, controller wands, data gloves, trackpads, on-device control buttons, motion trackers, bodysuits, treadmills and motion platforms. These services are used in various sectors such as healthcare, education, real estate and entertainment. The use of computer technology to create a digital world is virtual reality (VR). Instead of seeing on a computer before them, users are immersed in 3D environments and can communicate with them.
Trends In The Global Virtual Reality Services Market
Remote shopping with virtual reality is a key trend in the virtual reality services market. Many people are not doing offline shopping due to isolation and quarantine with the global Covid-19 outbreak and that does not mean e-commerce companies must also stop communicating with their customers and clients. Virtual reality alternatives opened great chances where businesses can offer potential customers new buying experiences without preventing their outreach. E-commerce companies could now reframe the experience for the customers and redesign their shopping journeys by using VR services. For instance, USA-based brand GAP developed a virtual Dressing Room app that allows the user to digitally try out clothes before making a purchasing decision. It will help customers to choose the right outfit and also contributes to the reduction of product returns and the reduction of expensive financial burdens for retailers.
Global Virtual Reality Services Market Segments:
The global virtual reality services market is further segmented based on application, basis of service and geography.
By Application: Healthcare, Education, Real Estate, Advertising, Travel, Gaming, Entertainment, Others
By Basis of Service: Consulting, Training, Implementation, Integration, Operation, Maintenance
By Geography: The global VR services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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Virtual Reality Services Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides virtual reality services global market overviews, analyzes and forecasts market size and growth for the global virtual reality services market, virtual reality services market share, virtual reality services market players, virtual reality services market segments and geographies, virtual reality services market's leading competitors' revenues, profiles and market shares. The virtual reality services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors' approaches.
Read Virtual Reality Services Global Market Report 2021 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Virtual Reality Services Market Organizations Covered: Skywell Software, LittlStar, Creative Solutions, Gramercy Tech, HQSoftware, Program Ace, Groove Jones, Xicom Technologies, Zco Corporation, The Intellify, Quy Technology, Fluper, JPLoft Solution, Credencys Solutions, HorizonCore Infosoft, Quytech, Hedgehog lab, IndiaNIC Infotech Limited, Chetu, Vakoms, Delta Reality, Dyfuzja, Cortex, Chocolate Milk & Donuts, NARSUN, Setapp.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets.
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