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$3.16 Billion Global Virtual Reality Devices Market Size, Growth, Segmentation And Forecast Report


The Business Research Company’s Virtual Reality Devices Market covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market.
The Virtual Reality Devices market consists of sales of virtual reality devices and related services. The VR devices use advanced computer technology called virtual reality to create a simulated environment. The VR devices such as head mounted display (HMD) devices , Gesture Tracking devices(GTD) , Projectors and  display walls (PDW)  enable the users to get immersed in a real environment and interact with 3D worlds.  Some of the virtual relaity devices include Oculus Rift - VR headset, HTC Vive – VR,Sony - PSVR, Samsung Gear VR – mobile VR headset with controller, and Google Cardboard – mobile VR headset by Google.
Major players in the market are Google, Sony Corporation, Samsung Electronics Co., Ltd, Oculus VR LLC, Marxent Labs
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Rising demand for virtual reality devices in changing the traditional way of imparting safety trainings to employees is expected to drive the virtual reality devices market. Virtual Reality provides an effective and safe training environment for the employees in an organization. Traditional training method fail to recreate real time crisis scenarios while VR trainings create the real time crisis scenarios which helps a person to respond in a similar way to that of real time situations, thus providing effective and safe training to staff. It has resulted in fewer mistakes and better information recall than traditional trainings. For example, Ford uses virtual reality which simulates real-life situations to train its staff in a more receptive and effective way than training theoretically.
Health concerns over prolonged usage of virtual reality headsets is expected to limit the growth of companies in the virtual reality devices market. Prolonged immersion into a fully imagined environment can affect both physical and emotional well being. Simulated motions affect a person's perception of time and space. Violent content can cause long term brain damage and generate severe psychological effects in children. For example, the studies shows that extensive usage of virtual reality devices can lead to nausea, eye strain including myopia or nearsightedness, anxiety and radiation exposure.

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General Data Protection Regulation (GDPR) in UK and Federal Trade Commission in USA are regulatory bodies monitoring and regulating the virtual reality devices Market. GDPR regulates and oversees data privacy by eliminating misuse of personal data. The Federal Trade Commission oversees content patentability and content moderation issues prevailing in the UK market. 

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