A virtual reality headset also referred as VR headset is a hardware device that is used to deliver virtual reality experience for three-dimensional simulations, pc games, and other applications like movies, play stations, and others. VR headset comprises an organic light-emitting diode or liquid crystal display screen, and a head motion monitoring sensor to deliver 3D picture which appears to be real. The sensor fitted in the VR headset follows the head motion and delivers 3D images with up to 360-degree view following head movement. VR headsets are increasingly being used in the training methods, engineering design process, corporate environments, and for engagement of audiences such as VR gaming, sports, movies, and others. Furthermore, VR headsets are commonly used in the medical industry to train medical scholars for surgical procedures and other operations. In addition, with advancements in technology, VR headsets with eye and motion tracking are under development to enhance the user’s virtual reality experience in the upcoming years.
COVID-19 Scenario Analysis:
- The virtual reality headset market has witnessed a significant downfall during the COVID-19 period. The reason for the downfall was the shutdown of the game stations and virtual reality movie hubs because of the imposed lockdown by the government to stop the spread of infection. The revenue that was supposed to be generated by the gaming stations and movie hub contributed to the market decline during the pandemic period.
- The demand for personal headsets increased during the pandemic situation as tech-savvy people wanted to experience fun and enjoyment while they were in a lock-down situation. The demand for personal headsets propelled the market growth. The key market players with the help of the government are putting efforts to resume the game stations and movies hub to promote the market and generate revenues and drive the growth opportunities for the market during the post-pandemic situation.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
The growing demand for high-quality and effective pictures, increasing smartphone acceptance, and growing technological understanding amongst people are the factors driving the growth of the virtual reality headsets market. In addition, the rise in popularity amongst the younger generation in both developed and developing countries that has fueled the growth of the market. However, high cost of the headsets and variations in the quality of visual effects are the factors hampering the market growth. Furthermore, an increase in the implementation scope in the armed services sector and the automobile sector is likely to provide lucrative opportunities for the growth of the virtual reality headset market during the forecasted period.
The Market Trends For Virtual Reality Headset Market:
Adoption of Virtual Reality Headset by the Retail Sector:
VR technology has impacted the retail segment due to the changing shopping choices of consumers. The technology enables consumers to make purchases from any location while at the same time providing them with an in-store virtual experience. The capability of VR and augmented reality to enable shoppers to try new stuff virtually has given the VR headset business new growth potential. The VR technology provides essential information to the buyers, including product details and accessibility, along with facilities and amenities that provide an excellent digital shopping experience.
High-End Device Segment to Lead the Market:
The enhanced features of high-end devices, including high-quality visual effects, self-tracking, and improved performance are likely to drive the segment growth. High-end devices are mainly used in large companies to deliver better-quality services to its customers and employees. Such devices are mostly attached with the latest & advanced technologies that provide increased engagement and high resolution to the audience. Substantial and ongoing investments in high-end devices by major players are expected to drive the market growth.
Key Benefits of the Report:
- This study presents an analytical depiction of the virtual reality headset market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the market share.
- The current market is quantitatively analyzed to highlight the virtual reality headset market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the virtual reality headset market.
- The report provides a detailed market analysis based on the present and future competitive intensity of the market.
Questions Answered in the Virtual Reality Headset Market Research Report:
- Who are the leading market players active in the virtual reality headset market?
- What would be the detailed impact of COVID-19 on the virtual reality headset market?
- What current trends would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the virtual reality headset market?
- What are the projections for the future that would help in taking further strategic steps?
Virtual Reality Headset Market Report Highlights
Key Market Players
LG Electronics Inc.,, Samsung Electronics Co. Ltd.,, Facebook Inc.,, HTC Corporation,, Alphabet Inc.,, Avegant Corporation,, Microsoft Corporation,, Sony Corporation, Magic Leap Inc., FOVE Inc.,