VR Headsets Market to hit USD 46.3 billion by 2032, says Global Market Insights Inc.

VR Headsets industry is projected to witness a CAGR of 22.5% during the period 2024-2032. This growth can be attributed to the expanding 5G network expansion.

Selbyville, Delaware, Oct. 16, 2024 (GLOBE NEWSWIRE) —

VR Headsets Market size was valued at USD 8.2 billion in 2023. Projections indicate a robust progression trajectory, with an anticipated CAGR of 22.5% from 2024 to 2032, fueled by advancements in immersive technology and rising demand across diverse industries.

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The industry is currently witnessing several significant trends shaping its trajectory. A key trend is the heightened integration of VR with other cutting-edge technologies, notably AI and machine learning, aiming to craft more advanced and responsive virtual environments. Furthermore, there is an increasing emphasis on standalone VR headsets, which operate independently of PCs or consoles for enhancing portability and user-friendliness. The burgeoning metaverse is also amplifying interest in VR as a medium for social engagement and virtual economies.

The overall VR headsets market is segmented into type, component, operating system, connectivity technology, application, distribution channel, and region.

The market is categorized by type into tethered, standalone, and smartphone-enabled headsets. Standalone VR headsets led the market in 2023, raking in revenues surpassing USD 3.1 billion, with projections to hit USD 10.2 billion by 2032. Their surge in popularity can be attributed to their convenience, affordability, and user-friendly nature. Unlike tethered counterparts reliant on powerful PCs or consoles, standalone headsets boast integrated processing power, sensors, and displays.

Operating system-wise, the VR headsets market is divided into Windows, iOS, and Android. Windows took the lead in 2023, amassing revenues over USD 3.6 billion, with forecasts suggesting a climb to USD 19.2 billion by 2032. Windows’ dominance stems from its robust ecosystem, ensuring hardware compatibility, software support, and active developer engagement. Notably, leading VR headsets like Oculus Rift and HTC Vive are tailored for seamless integration with Windows, solidifying its status as a premier platform for gaming, entertainment, and professional use.

North America VR headsets market stood out as the leading region, generating a notable USD 3.1 billion in revenue, with expectations to soar to USD 17.7 billion by 2032. This expansion is underpinned by the region’s advanced technological infrastructure, affluent consumer base, and the significant presence of industry giants. Moreover, North America’s substantial investments in research and development, combined with swift technological adoption rates, bolster VR’s expansion across sectors like gaming, education, and healthcare.

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Major players in VR headsets market include Google LLC, HP Inc., HTC Corporation, Lenovo Group Limited, Magic Leap, Inc., Meta Platforms, Inc., Microsoft Corporation, Pico Interactive, Inc., Pimax Technology (Shanghai) Co., Ltd., Razer Inc., Samsung Electronics Co., Ltd., Shenzhen Baofeng Mojing Technology Co., Ltd., Sony Group Corporation, Valve Corporation, and Xiaomi Corporation among others.

Partial Table of Contents (ToC) of the report:

Chapter 1   Methodology & Scope

1.1    Market scope & definition

1.2    Base estimates & calculations

1.3    Forecast parameters

1.4    Data sources

1.4.1    Primary

1.4.2    Secondary

1.4.2.1    Paid sources

1.4.2.2    Public sources

Chapter 2   Executive Summary

2.1    Industry 360⁰ synopsis, 2018 – 2032

Chapter 3   Industry Insights

3.1    Industry ecosystem analysis

3.1.1    Factors affecting the value chain

3.1.2    Profit margin analysis

3.1.3    Disruptions

3.1.4    Future outlook

3.1.5    Manufacturers

3.1.6    Distributors

3.1.7    Retailers

3.2    Impact forces

3.2.1    Growth drivers

3.2.1.1    Advancements in immersive technology

3.2.1.2    Growing Adoption in Diverse Sectors

3.2.1.3    Expanding 5G network expansion

3.2.1.4    Increasing disposable income

3.2.2    Industry pitfalls & challenges

3.2.2.1    High initial investment

3.2.2.2    Health and Safety Concerns

3.3    Technology & innovation landscape

3.4    Consumer buying behavior analysis

3.4.1    Demographic trends

3.4.2    Factors affecting buying decision

3.4.3    Consumer product adoption

3.4.4    Preferred distribution channel

3.5    Growth potential analysis

3.6    Regulatory landscape

3.7    Pricing analysis

3.8    Porter’s analysis

3.9    PESTEL analysis

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About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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