The global virtual reality market was valued at USD 15.9 billion in 2024 and is projected to reach USD 38.0 billion by 2029; it is expected to register a CAGR of 19.1% during the forecast period. The growing penetration of the Metaverse and Rapid adoption of digital technologies in healthcare and gaming & entertainment sectors are attributed to the ever-increasing demand for virtual reality system.
Meta (US), Sony (Japan), Samsung Electronics Co.,
Ltd. (South Korea), Microsoft (US), Unity Technologies (US), Barco (Belgium),
Penumbra, Inc. (US), HTC Corporation (Taiwan), PICO Immersive Pte.ltd
(US), and DPVR (China), Quytech (India), FOVE, Inc (Japan), Innowise (Poland),
Ultraleap (England), WorldViz, Inc. (US), Vection Technologies (Australia),
MindMaze (Switzerland), Virtuix (US), Firsthand Technology (US), Merge Labs,
Inc. (US), HQSoftware (Estonia), XRHealth IL Ltd. (US), Space VR (US),
CyberGlove Systems Inc. (US), Vighnesh Inc. (India), are some of the key
players in the Virtual reality market.
Major Virtual
Reality Companies include:
- Meta
(US)
- Sony
(Japan)
- Samsung
Electronics Co., Ltd. (South Korea)
- Microsoft
(US)
- Unity
Technologies (US)
Meta formerly known as Facebook is a social
metaverse company that builds technology to help people connect, find
communities, and grow businesses. Meta Platforms owns and operates a variety of
social media, social networking, and messaging services, including Facebook,
Instagram, WhatsApp, and Messenger. The company also owns the virtual reality
(VR) company Oculus VR. One of its most notable products is the Oculus series,
which includes Oculus Rift, Oculus Quest, and Oculus Go. These VR headsets have
garnered widespread acclaim for their immersive experiences, high-quality
visuals, and broad content library. In education, Meta's initiatives have
introduced interactive and engaging learning tools, enabling students to
explore historical sites, conduct virtual experiments, and receive personalized
tutoring.
The company operates through two segments, namely,
Family of Apps (FoA) and Reality Labs (RL). The FoA segment includes Facebook,
Instagram, Messenger, WhatsApp, and other services. The RL segment includes
augmented and virtual reality-related consumer hardware, software, and content.
Sony
Sony includes a diverse portfolio, including
businesses like Game and Network Services, Music, Image Sensing Solutions,
Pictures, Electronic Products and Solutions, Financial Services, and a wide
range of other businesses. The company is renowned for its PlayStation brand,
which includes gaming consoles (PlayStation 5, PlayStation 4), game development
studios, and an online gaming service called PlayStation Network (PSN).
The Game and Network Services majorly includes the
PlayStation platform. PlayStation is not only confined to games but provides a
wholesome music and movie entertainment experience. The Music business is
associated with the production and publishing of music; the electronic products
and solutions include TVs, cameras, smartphones, and audio equipment. Image
sensing technologies create solutions to enhance image quality for various
industries, and Financial Services are responsible for insurance and nursing care.
Sony offers AR smart-glasses and projectors, and VR
PlayStations. The smart-glass incorporates a holographic waveguide technology
that provides lenses offering AR with higher transparency and brightness. Sony
also developed a stacked event-based vision sensor that detects luminance
change in every pixel. It provides a pixel size of 4.86µm and HDR performance
of 124dB with a resolution of 1280x720. A key product in the VR space for Sony
is the PlayStation. It is the biggest community of interest for Sony. The
recent launch of PS5 and upgrades in the VR space have enriched the gaming
experience of users manifold. For high responsive applications like electronic
viewfinders (EVF).
Samsung Electronics Co., Ltd.
Samsung Electronics Co., Ltd. is a leading
manufacturer of smartphones and semiconductors, and also produces a wide range
of other electronic products including TVs, home appliances, and memory chips.
The company operates through four business segments: Device eXperience (DX),
Device Solutions (DS), SDC, and Harman. Samsung Electronics Co., Ltd. has been
a significant player in the virtual reality (VR) market. One of its most
notable ventures in VR is the Samsung Gear VR, a virtual reality headset
developed in collaboration with Oculus VR. The Gear VR was designed to work
with Samsung Galaxy smartphones, providing users with an immersive VR
experience using their mobile devices.
In the VR market, the company’s main products are
headsets that are compatible with the majority of the company’s smartphones.
along with the traditional headsets. The Gear VR gained popularity for its
affordability and ease of use, leveraging Samsung's widespread presence in the
smartphone market.
Microsoft
Microsoft is a global company that develops and
markets software, services, and hardware devices. It is known for creating
technology that enables people and businesses to realize their full potential
by creating new opportunities, greater convenience, and enhanced value to
people's lives.
Microsoft's VR business is primarily focused on its
Windows Mixed Reality (WMR) platform, which offers a range of VR headsets, such
as the HP Reverb G2, that provide industry-leading visual quality, spatial
audio, motion tracking, and ergonomics These headsets are designed to work with
compatible PC hardware and support hundreds of popular games and VR experiences
from the SteamVR library and Microsoft Store. Developers can use official
documentation to create WMR applications, while the SteamVR app porting guide
assists in optimizing and testing experiences for WMR headsets.
Unity Technologies
Unity Technologies is a prominent player in the
virtual reality (VR) space, offering developers a robust platform to create
immersive VR experiences. Unity, a cross-platform game engine widely used for
VR and augmented reality (AR) development, enables developers to build 3D
environments and add interactive elements like audio, video, and animations.
Unity's VR Project Template serves as a starting point for VR development,
configuring project settings and pre-installing necessary packages for VR
development. Additionally, Unity offers a range of features and packages like
the XR Core Utilities, Unity Input System, and XR Hands package to enhance VR
development.
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PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=458
Unity builds VR experiences that work on various VR
headsets like Oculus Rift, HTC Vive, PlayStation VR, and more [Unity, Build VR
experiences with Unity]. This saves developers time and resources by not
needing to rebuild each platform.
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