Virtual Reality Market Size To Reach USD 51.5 Billion By 2030 Growing At 25.1% CAGR | Globaldata Plc

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Global VR Market Share By End User Category Type, 2020 – 2030 (%)

LONDON, UK, November 24, 2022 / / -- The global virtual reality (VR) market size reached USD 6.9 billion in 2021, according to a new report by GlobalData Plc. Increasing adoption of VR technology across verticals coupled with the domination of the gaming & entertainment segments are the key drivers which are expected to boost the growth of the market, forecasts GlobalData, a leading analytics company.

VR Market Outlook Report is available with GlobalData Now at:
An increasing number of start-ups in the VR market have started focusing on tailored solutions targeted toward a specific set of clients with similar requirements. The increase in VR smartphone applications, the rising demand for remote collaboration, and technological advancements in medical applications are a few factors driving augmented reality and mixed reality market growth.

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VR Market Report Highlights

•The global VR market is projected to witness a CAGR of 25.1% from 2021 to 2030, reaching a value of $51.5 billion. The increasing popularity of VR games amongst the young population coupled with the increasing adoption of VR technology across verticals is driving the growth of the market.
•In 2021, North American enterprise VR market accounted for 32.6% market share of the global market. It is expected to contribute five billion dollars to the market growth during the forecast period, 2021-2030.
•COVID-19 over the last two years, had a massive impact on VR demand. As consumers spent more time at home, their leisure activities changed driving the demand in the VR market.

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•Asia Pacific consumer VR market is expected to register the fastest growth during 2021-2030 at a CAGR of 23.9% while contributing $6.8 billion to the overall market.
•The key VR market players analyzed as part of this report include Meta Platforms, GoerTek, Samsung Electronics, and Microsoft Corp., among others.

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GlobalData Plc has segmented the VR market report by End User Type, Product Type and and region:

VR End User Type Outlook (Revenue, USD Million, 2020-2030)

VR Product Type Outlook (Revenue, USD Million, 2020-2030)

VR Regional Outlook (Revenue, USD Million, 2019-2026)
•North America

•Rest of Europe

•Asia Pacific
•Rest of Asia Pacific

•South & Central America
•Rest of South & Central America

•Middle East & Africa
•United Arab Emirates (UAE)
•Kingdom of Saudi Arabia (KSA)
•Rest of Middle East & Africa

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GlobalData is a leading provider of data, analytics, and insights on the world's largest industries. In an increasingly fast-moving, complex, and uncertain world, it has never been harder for organizations and decision-makers to predict and navigate the future. GlobalData's mission is to help our clients to decode the future and profit from faster, more informed decisions. As a leading information services company, thousands of clients rely on us for trusted, timely, and actionable intelligence. Our solutions are designed to provide a daily edge to professionals within corporations, financial institutions, professional services, and government agencies.

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