Global Virtual Reality Headset Market 2024-2030

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    VIRTUAL REALITY HEADSET MARKET

     

    KEY FINDINGS

    • Sony is hinting at how PlayStation VR will evolve for the PS5. The console maker has revealed the first details of a brand new PSVR headset for its latest console, and the focus will be as much on streamlining the overall experience as it will be visual quality.
    • Apple’s latest exec shuffle is further evidence of its VR headset. The initial mixed reality headset could be a high-end model aimed at developers and other professionals. If accurate, it could offer an extremely high 8K resolution per eye with spatial audio and iPhone 12 Pro-style LiDAR sensors to help position virtual objects in augmented reality.
    • Apple’s mixed reality headset could cost $3,000 and include 8K displays. It sounds like the details behind Apple’s AR/VR hardware are starting to solidify.
    • Tetris Effect is an ideal game to both soothe and stimulate players, and now the multiplayer Connected edition works in virtual reality too. Tetris Effect Connected isn’t available on the PlayStation VR headset yet, but PC VR users can join the action via SteamVR or Oculus VR. The 1.1.0 patch is available now with official support for the Vive and Oculus Rift headsets.
    • Former HTC CEO Peter Chou reveals his next project: a social 5G VR headset. The XRSpace Mova focuses on intuitiveness, social and wellness.
    • Korg Gadget-VR takes music producing from the studio to the headset. Electronic music production will be possible in VR with an upcoming app from Korg.
    • Researchers in Korea have analysed the symptoms of motion sickness that users may experience in VR content and developed a technology to reduce VR sickness using artificial intelligence associated with VR headsets. The technology is expected to be of great help to VR content developers in creating application services while giving full rein to their creativity.
    • ‘Microsoft Flight Simulator’ will support one VR headset this fall. First, it’ll hit the HP Reverb G2, but other headsets aren’t out of the question. The VR version will be free for anyone who owns the game and it’ll come to additional headsets in the future,
    • Facebook’s $299 Oculus Quest 2 VR headset is now available from late 2020. ‘The most flexible VR headset on the market’ is finally available as the Oculus Quest 2 goes on sale.
    • Oculus Go standalone VR headset is now available for $199. The Oculus Go promises to make VR far more accessible.
    • 3M is teaming up with Pegatron to develop a new Virtual Reality reference design headset with a folded optics lens. The new curved lens includes 3M’s proprietary reflective polarizer for high resolution, high transmission and a wide field of view enabling a thinner, lighter-weight design.

     

    INTRODUCTION TO VIRTUAL REALITY HEADSET MARKET

    Virtual Reality (VR) headsets are advanced headgears connected to mobile phones, PCs, or gaming consoles to give a life-like virtual experience to consumers.

     

    VR technology uses near-to-eye display and easily amalgamate with technical gadgets. Apart from gaming sectors, which is a significant application, VR headsets are also used in the medical and automotive industry to create enhanced user experience.

     

    Emerging trends, which have a direct impact on the dynamics of the virtual reality headset industry, include the introduction of attractive, sleek, and convenient VR headsets and the development of artificial intelligence incorporated VR headsets which are finding new applications across different fields.

     

    VR headset are now increasingly used in the development of training methods, engineering design process, business environments, and audience engagement such as VR gaming, sports, and events.

     

    Furthermore, VR headsets are widely used in medical sector to train students for surgery, and other operations. In addition, with improving technology, VR headset with eye tracking, and motion tracking are in development to increase the user virtual reality experience.

     

    Oculus VR, LLC introduced a VR headset named “Oculus Touch” to track hand motions. Likewise, Fove, Inc. has introduced eye tracking feature in its new model named “Fove Dlodlo VR”.

     

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    Some of the major factors driving the growth of the VR Headsets market size is increasing VR headset adoption in advertising, gaming, automotive industry, growing smartphone market, and increasing technical expertise among vendors and consumers.

     

    Military and other research projects are using the Virtual Reality Headsets to enhance mental and well-being training programs.

     

    VIRTUAL REALITY HEADSET MARKET DYNAMICS

    Sale of headsets are predicted to account for the majority of revenue generated for the VR gaming industry in 2020, and consequently companies are pouring money and development resource into improving display tech.

     

    Some of these advances in headset technology will further give more shape to the Virtual Reality Headset Market in the year ahead. 

     

    Standalone headsets: VR headsets have been one of two things: connected to one’s PC for a powerful and expensive experience, or integrated with the mobile phone for a cheaper but much lower quality experience.

     

    Standalone headsets are somewhere in between. With their built-in screens, batteries, and improved specs, they offer the untethered experience of mobile VR headsets with a much-needed boost in power.

     

    But that said, they’re currently still nowhere near as powerful as a PC VR headset like the Oculus Rift or HTC Vive.

     

    Of the new headsets, the Oculus Quest is being seen as a game-changer for the VR market. The device, which launched in May, is a stand-alone VR headset that does not need to be tethered to a computer, making it a more versatile and compelling buy for consumers.

     

    Those who want to run applications or games that are only accessible through a PC can connect the Quest via the Oculus Link software. This two-in-one approach just increases the device’s value for consumers.

     

    Eye-tracking: Eye-tracking is one of the most exciting areas being explored as VR develops. It relates to the ability to quickly and precisely measure the direction a person is looking while using a VR headset.

     

    While it has a range of potential applications in VR headsets, from varifocal displays to improved social VR avatars, the most-discussed context for eye-tracking is foveated rendering.

     

    VR developer Pixmax is expected to release an eye-tracking module imminently for their ultra-wide FOV, 8K and 5K headsets. Improvements in specific eye-tracking components are expected to be announced as the year progresses.

     

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    Beyond foveated rendering applications, one developer to watch is Visual Camp, who offer the power to navigate and make menu selections with the eyes, alongside foveated rendering for better performance.

     

    Bigger field of view and higher resolutions:  Improvements in eye-tracking – and in particular in foveated rendering is expected to open the door to another holy-grail of VR: higher-resolutions.

     

    That’s because foveated rendering will be key to making the resolution jump affordable. System architects will be able to use lower-cost graphics cards to draw the greatest detail only where it is noticeable: in front of one’s eyes.

     

    Clawing back some of the cost of putting a higher resolution display inside a VR headset by using less expensive graphics cards, may be absolutely critical for manufacturers to consider this move.

     

    8K Pixmax headset comes with a dual-resolution of 3840×2160, and its 5K Plus with dual-resolution of 2560×1440.

     

    Bearing in mind the new HTC Vive Pro has dual 1440×1600 resolution which in itself is a not-to-be-sniffed-at 78% increase over the resolution of the existing Vive with other players really working on the frontlines of what’s currently possible with this technology.

     

    The Pixmax headsets boast an impressive 200-degree FOV, a full 90 degrees wider than the Vive Pro’s 110-degrees.

     

    For VR to go mainstream and capture the mass consumer market, there are number of technological tentacles that need converge. Everything from the quality of the capture and display tech, to understanding how stories can be told effectively in VR.

     

    Virtual reality headsets that enable more immersive gaming experiences, larger FOVs, better frame rates and better resolution will play a huge part in the growth of gaming VR, which in turn will tip the scales a little further towards the mass adoption of virtual reality headsets.

     

    VIRTUAL REALITY HEADSET MARKET TRENDS

    Increasing smartphone penetration coupled with the compatibility of virtual reality with smartphones is expected to increase the VR Headset market size.

     

    Virtual reality has tremendous potential to be integrated into a wide range of applications, including healthcare, education, and industrial prototyping. This widespread adoption is expected to increase the VR Headset market size.

     

    The increasing R&D activities are expected to fuel the growth of the VR Headset market size. Augmented reality, Virtual reality, and wearable devices are rapidly converging, with changing technology application trends, allowing users to have immersive and interactive content.

     

    Furthermore, technological developments and advances in networking and connectivity are expected to fuel VR headset demand in the coming years.

     

    The growing developments in 3D technology are expected to provide opportunities for VR headset market. In military sector, the U.K. government incorporated VR headset in its training of trauma medics for battle.

     

    Similarly, in healthcare, psychiatrists at University of Louisville are using VR headsets in cognitive behaviour therapy to treat patients. National Aeronautics and Space Administration (NASA) uses VR headsets to improve the mental health of astronauts for longer term missions. NASA using VR technology is providing virtual space station for interactive behavioural health training and treatment programs.

     

    Furthermore, rising utilization of digital entertainment and digital media is also projected to drive the demand for VR headsets. For instance, movie makers, professional sports leagues and associations, music industry, adult entertainment industry, etc. are also increasingly adopting virtual reality technology to drive their customer base.

     

    Apart from this, various manufacturers are incorporating additional features like buttons, NFC chips and Bluetooth connectivity in the assembled virtual reality headset kits. The adoption of VR headsets in the retail industry is expected to increase the VR Headset market size during the forecast period.

     

    VR technology can change the consumer shopping experience in the areas of retail accessibility, consumer engagement, and better sharing of product information. Continuous research is being conducted to develop low cost, wearable VR solutions for the mass market.

     

    VIRTUAL REALITY HEADSET MARKET RECENT ACQUISITION

     

    Chinese virtual reality headset manufacturer Pico is being bought by TikTok’s parent firm ByteDance. After being rumoured and confirmed by the Chinese publication Nweon, CNBC released the information.

     

    The company said it was “optimistic about the future of VR and its alignment with our mission” and that its “comprehensive suite of software and hardware technologies, as well as the talent and deep expertise of the team, will support both our entry into the VR space and long-term investment in this emerging field.”

     

    The most recent model of Pico’s Neo line of standalone virtual reality headsets is the Pico Neo 3. According to a June IDC research, Pico is the third-largest manufacturer of VR headsets, behind Facebook subsidiary Oculus and Chinese firm DPVR. It serves both consumer and business customers.

     

    The business-ready Neo 3 Pro and Neo 3 Pro Eye are scheduled for a release in North America and Europe, while the consumer-focused Neo 3 released only in Asia.

     

    Thanks to the global powerhouse TikTok and China-based Douyin, ByteDance is generally recognised as a social software developer.

     

    However, it also purchased the significant mobile games company Moonton, as CNBC points out. It has previous experience with hardware releases, having introduced the Jianguo Pro 3—a phone available only in China.

     

    VIRTUAL REALITY HEADSET MARKET SIZE AND FORECAST

     

    North America has dominated the market because of growing investment in technologies. There has been a growing demand from films, education system and military sector.

     

    In addition to this, the field of education would also set to gain from this technology as more online than offline classes are set to be taken. Same is the case with the tourism and medical sectors.

     

    The global virtual reality market size was valued at USD xx billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of xx% from 2024 to 2030.

     

    The virtual reality headset market is anticipated to grow in the forecast period owing to driving factors such as developments in the field of virtual reality technology combined with demands for high quality pictures.

     

    Moreover, popularity in the gaming console segment is another factor propelling the market growth.

     

    However, these headsets may be expensive as well as time consuming to develop. This factor may restrain the growth of the virtual reality headset market as a mass consumed product during the forecast period.

     

    On the other hand, increasing application scope in military and automotive sector is likely to offer lucrative opportunities for the market in the coming years.

     

    NEW TECHNOLOGY IN VIRTUAL REALITY HEADSET MARKET

     

    StarVR’s One headset flaunts eye-tracking and a double-wide field of view. While Oculus and Vive used to dominate the VR headset industry, many other companies have emerged as the technology has advanced, and some of them are eager to challenge the market leaders at their own game.

     

    The latest StarVR headgear adds eye-tracking and a significantly increased field of vision to the game, and the latter is especially enjoyable to use. At SIGGRAPH in Vancouver, where the new gear was unveiled by the business, I had the opportunity to try out the headset firsthand.  But before you get too enthusiastic, remember that this kit is designed for business uses, such as auto showrooms and flight simulators.

     

    This indicates that it will cost more and provide a less refined user experience than those that are consumer-focused. The enhancements made by the StarVR One are substantial and immediately apparent. The enlarged FOV—210 degrees horizontal and 130 degrees vertical—is likely the most significant factor.

     

    That is about twice as broad as the most common headsets’ 110 degrees wide, and trust me, it makes a difference. Although it has a similarly wide FOV, but haven’t tried the Pimax 8K.On Vive and Oculus sets, it always felt as though one was peering through a hole into the virtual reality world. It was a sizable hole, to be sure, but the fact that the area in the distance was essentially blank made it feel a little confining.

     

    The virtual environment feels like it is literally all around us on the StarVR headset, not just in front of us. the considerably greater eye movement as opposed to rotating my head, with no concern for unintentionally staring at the display’s fuzzy edge.

     

    A refresh rate of 90 Hz indicated that everything was fluid.The unique AMOLED panel is anticipated to have a 5K resolution. However, when I questioned the company, they refused to provide the precise resolution. However, confidently declare 16 million sub-pixels and complete RGB pixels.

     

    The other significant addition is an eye-tracking technology from Tobii. Eye-tracking in virtual reality was on the horizon; it was exhibited at CES, and the Fove Kickstarter showed it was at least technically feasible to integrate into a headset.

     

    The automatic determination of interpupillary distance, or IPD, which varies from person to person and can be crucial to correctly producing the image, is one modest but pleasant advance that eye-tracking also makes possible. For the commercial providers who have the option, the StarVR One is compatible with SteamVR tracking. Purchase the XT version and build your own optical tracking system.

     

    VIRTUAL REALITY HEADSET MARKET SEGMENTATION

     

    Virtual Reality Headset Market By Application

    • Gaming & Entertainment
    • Real Estate
    • Healthcare
    • Retail
    • Military
    • Education

     

    Virtual Reality Headset Market By Headset Type

    • Smartphone-enabled
    • Standalone
    • PC-connected

     

    Virtual Reality Headset Market By Technology

    • Non-immersive
    • Semi-immersive
    • Fully-immersive

     

    Virtual Reality Headset Market By Region

    • North America
    • Europe
    • Asia Pacific
    • The Rest of the World 

     

     

    COVID IMPACT ON VIRTUAL REALITY HEADSET MARKET

     

    COVID-19 has affected all market spaces in one way or another. While the market was negatively affected in some ways, the pandemic had also accelerated the growth of VR headset. The Coronavirus outbreak has caused manufacturing delays, and for a brief period, the overall demand for VR headsets/glasses has reduced.

     

    However, in the coming days when most of the countries have slowly and steadily eased the lockdown measures, telepresence and content demand are expected to grow on both the enterprise and consumer sides. This, in turn, will lead to an increase in the shipment of AR and VR head-mounted displays.

     

    Due to the pandemic, some of the AR/VR device manufacturers especially from China, Taiwan, and South Korea have witnessed temporary delays in AR/VR device production, increased costs, and revenue losses. 

     

    MAD Gaze, a Hong Kong-based consumer AR smart glasses provider, announced delay in shipments, and change in its display panel supplier from a Chinese factory to Korean and Japanese factories due to production delays in Chinese factories.

     

    It is not only the small and mid-sized companies that had to delay their production, but also global players like Oculus, HTC, and Vive that were struggling to manage their production during the lockdown and self-quarantine phase.

     

    In the long run, however, late 2020, when the lockdown and quarantine measures eased down a little, bigger firms operating in the market are expected to fill the gap in the production in AR/VR headsets, however smaller companies that will be launching their products for the first time in the market will be at a higher risk.

     

    Also, in the long run, the demand for AR/VR headsets is expected to significantly pick up, particularly due to the benefit that these devices will offer during the post-lockdown/quarantine.

     

    AR/VR headsets are proving to be useful devices/solutions that will supplement online education courses. Also, these devices have helped in remote training of professionals in various fields, thereby reducing unnecessary travel.

     

    These devices have also provided a seamless virtual shopping experience to the consumers. Due to the various use cases of the AR/VR technology, it is expected that there will be an increase in the demand for these VR headsets driven primarily from gaming market.

     

    Companies operating in the VR technology market might need to prepare themselves to advance to effectively cater to the surge in demand during the coming months.

     

    VIRTUAL REALITY HEADSET MARKET COMPETITVE LANDSCAPE

     

    The growing demand for VR products has led and attracted many manufacturers to introduce new product innovations in the market. Developers from a wide variety of industries see VR’s promise and are keen to integrate the technology into their businesses. Gaming companies are seeking to use VR for more immersion, while healthcare and engineering companies are seeking to use VR for training and modelling.

     

    Oculus is focusing its efforts on a standalone VR headset, the Quest 2, but providing the option to use it as tethered to a PC with a cable. HTC has the tethered Steam-friendly Vive Cosmos and the developer-focused Vive Pro. Sony has the PS4-compatible PlayStation VR, and Microsoft is supporting its Windows Mixed Reality platform with a scant few third-party headsets. There’s also Valve, with its expensive Valve Index headset.

     

    Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events.

     

    Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from virtual reality headset market are anticipated to lucrative growth opportunities in the future with the rising demand for virtual reality headset in the global market.

     

    As the growth of VR continues, some product manufacturers take firm dominant positions in the market, while consumers embrace the technology evermore. Users of these headsets are pretty evenly split among different age groups and income. This demonstrates a broad appeal among all types of consumers.

     

    • Oculus Quest 2: The best standalone VR.

    Known for: Self-contained and wireless; great touch controllers; comfortable design for gaming; doubles as PC VR headset. It’s faster, smaller, cheaper and more comfortable to wear.

    • Valve Index: Best PC VR to explore the future of VR controllers

    Known for: good futuristic controllers; high-quality headset; works with Vive hardware. However, it is expensive; requires room setup and tethering cable.

    • Sony PlayStation VR: worth it for the games

    Known for: Plenty of games; lower price; works with many PS4 controllers like the Dual Shock and Move. However, Resolution isn’t cutting-edge; Sony hasn’t yet made great VR controllers that match the competition.

    • HP Reverb G2: The highest-resolution PC VR headset

    Known for: Really sharp high-res display, great audio, comfortable design. However, Mediocre controllers.

    • HTC Vive Cosmos: Could be a flexible, modular system

    Known for: Modular faceplates for extra features; built-in tracking; flip-up visor, works with Steam VR. However, seen to be expensive for the market.

     

    INNOVATIONS IN VIRTUAL REALITY HEADSET MARKET

    Google’s VR future includes a headset that tracks your eyes.Google is moving forward with its ideas for a new headgear.A high-end standalone headset that doesn’t require a computer or smartphone has been actively assigned work by Google.

     

    Since then, Engadget has been informed by sources with knowledge of the situation that Google’s device would incorporate eye tracking and make use of sensors and algorithms to map out the user’s actual environment.

     

    Google will be able to enhance reality in front of the headset with these two technologies, presenting digital items alongside real-world locations and objects.

     

    Sources have stated that Movidius, an AI startup now being bought by Intel, will provide processors to help with motion tracking and positioning awareness. Sources previously stated that the headgear, which would be distinct from the company’s Daydream VR platform, will not be powered by a computer or phone.

     

    The Drum revealed a prospective “wireless virtual reality” gadget that was approved by the FCC. Although the extensively redacted documents show nothing other than certain wireless capabilities, Mike Jazayeri, head of product management for Google’s VR department, is mentioned as a contact.

     

    We couldn’t confirm whether the FCC-approved gadget, which appears to be for internal and partner testing, is linked to the standalone headset ambitions. While it is unknown what shape the final headgear will take, two businesses are aiming for comparable results: Microsoft (with their HoloLens headset) and Magic Leap.

     

    The latter really has Google on its list of investors, with the search engine leading one round of fundraising and participating in another. Magic Leap’s technology is referred to as “mixed reality.” It varies from HoloLens in that it generates a digital light-field signal, which appears to produce a greater illusion of depth than HoloLens.

     

    Despite the fact that all three devices have similar ambitions, one source described the new standalone headgear as blurring the boundary between virtual and augmented reality – bringing the world into VR rather than VR into the world.

     

    VIRTUAL REALITY HEADSET MARKET COMPANIES PROFILED

    • The Oculus
    • Facebook
    • Google
    • Microsoft
    • Valve
    • HTC
    • FOVE, Inc.
    • LG Electronics Inc.
    • Magic Leap, Inc.
    • Microsoft Corporation
    • Oculus (Facebook Technologies, LLC.)
    • Samsung Electronics Co Ltd.
    • Sony Corporation
    • Vive (HTC Corporation)
    • ZEISS International
    • Oculus Rift

     

    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in the Industry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2024-2030
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2024-2030
    19 Market Segmentation, Dynamics and Forecast by Application, 2024-2030
    20 Market Segmentation, Dynamics and Forecast by End use, 2024-2030
    21 Product installation rate by OEM, 2023
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2023
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix
     
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