New report, titled “Global Virtual Reality Market: Trends & Opportunities (2015-2020),” to its vast database. The comprehensive research report has been written with the help of primary and secondary research methods. With the help of a SWOT analysis, the research report has identified the strengths, weaknesses, opportunities, and threats in this market. Additionally, it has also used Porter’s five forces analysis to list out the threat of new entrants, threat of substitute products or services, bargaining power of customers (buyers), bargaining power of suppliers, and intensity of competitive rivalry. The research report has also studied the global virtual reality market in the political context to understand the implications of the changing policies and the political scenario on its revenue.
Ever since the development of virtual reality in the nineteenth century, the market for virtual reality has progressed exponentially. The developments in the field of virtual reality has given users the ability to not only experience alternative environments, but also offer solutions and reach out to many in times of crisis. This experience is a computer-generated reality, which can be truly engaging or a non-engaging one depending on its purpose. The advent of virtual reality, has also given birth to augmented reality. The stark difference between the two is that augmented reality blends in real life to create images for the users, while virtual reality replaces the actual world with an artificial one.
The virtual reality market has two important components: software and hardware. Software is used for displaying content through HMDs, which form the hardware component of virtual reality market. This market is segmented on the basis of applications and technology. The application of virtual reality is seen in the areas of healthcare, entertainment, e-commerce, and training simulation. The technology segment is further sub-segmented into display, peripherals, and data processing.
In the recent past, the global virtual reality market has witness a stupendous rise due to the rising number of smartphone users, huge pool of gamers, increasing GNI per capita, financial support for several virtual reality companies, and affordable devices that enable virtual reality. In the near future, as the sale of smartphones multiplies, it is expected to propel the virtual reality market too by making the facility available to several consumers at their fingertips. However, this market faces some challenges such as VR sickness, lack of knowledge regarding virtual reality, and limited premium content.
Some of the important players profiled in the global virtual reality market are Facebook, Google, and HTC. The chapter on company profiles includes an assessment of the financial status of the companies, evaluation of their research and development activities, examination of business and marketing strategies, and studies the investment outlook of these companies for the near future. Furthermore, the research also explains the competitive landscape in the global virtual reality market to the readers in a bid to help them take well-informed business decisions.