Asia Pacific Virtual Reality market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F.
Asia Pacific Virtual Reality market is largely driven by rising demand for Virtual Reality from all major industry sectors for an immersive experience and improved quality of visualization. Though the market is highly competitive with over 500+ participants, few global players control the dominant share and regional players also hold a significant share.
The spread of the internet is also expected to drive a surge in VR technology adoption. According to GSMA’s Mobile Economy Asia Pacific 2022 Report, there are expected to be more than 400 million 5G connections by 2025. Environment, saving costs and reducing potential medical risks. Growth of multilayer printed circuit boards.
Especially in countries like Japan, Singapore, and South Korea, 5G connections are expected to account for nearly 55% of the country’s connections by 2025.
However, issues relating to display latency persists to be a roadblock in the growth trajectory of the VR market. A scientific study, done on the latency impact on Quality of Experience in a Virtual Reality simulator for remote control of machines, showed that latency in the display update had a severe impact and should be avoided or kept limited to 30-35 milliseconds (ms).
Since Covid-19 Pandemic, the use of VR for Learning, Training, and Treatment has significantly increased since it encouraged students, teachers, and professors to learn and educate using VR labs.
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Asia Pacific Virtual Reality MARKET By Component
The Asia Pacific Virtual Reality market is segmented by Component into Hardware, Software, Content and Services. Hardware Component holds the largest share of the Asia Pacific Virtual Reality market. The Services component is expected to grow the fastest.
Using 360-degree video, a fully immersive VR experience may be delivered. Multiple research works carried out on the topic show that user interactions with 360-degree films are rapidly increasing, and as a result, it is expected that the adoption of such movies will increase. The cost of VR headsets is being reduced by major players in the sector, like HTC and Meta, boosting adoption. Between Q2 2017 and Q1 2022, the number of VR headset shipments from China increased from 80,000 to 257,000.
Asia Pacific Virtual Reality MARKET by Device Type
The Asia Pacific Virtual Reality market is segmented by Device Type into Head, Mounted Displays, Gesture Tracking Devices, Projectors and Display Walls and Others. Gesture Tracking Devices are expected to grow the fastest, owing to the increased efforts by industries to make advanced devices for the user and offer a fully virtual environment where it would be possible to perform various gestures like clapping, high fives, etc.
The entertainment business is experiencing healthy patent activity linked to gesture tracking devices. Between 2016 and the first quarter of 2021, CB Insights discovered more than 500 patent filings relating to gesture recognition or hand gestures.
Key Topics Covered in the Report
- Snapshot of Asia Pacific Virtual Reality Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of Asia Pacific Virtual Reality Market
- Historic Growth of Overall Asia Pacific Virtual Reality Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of Asia Pacific Virtual Reality Industry
- Overview, Product Offerings, and SWOT Analysis of Key Competitors
- Covid 19 Impact on the Overall Asia Pacific Virtual Reality Market
- Future Market Forecast and Growth Rates of the Total Asia Pacific Virtual Reality Market and by Segments
- Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
- Analysis of Virtual Reality Market in Major Asia Pacific Countries
- Major Production / Consumption Hubs in the Major Asia Pacific Countries
- Major Production/Supply and Consumption/Demand Hubs in Each Major Country
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Country
Major Companies Covered in the Report
- Meta Platforms Inc.,
- Microsoft,
- Samsung,
- Sony,
- Google (Alphabet Inc.),
- Qualcomm,
- NVIDIA,
- AMD,
- Intel,
- HTC Corporation,
- Eon Reality,
- Autodesk
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Notable Emerging Companies Mentioned in the Report
- NOLO
- Realis
- UtoVR
- Holoeyes
- Nurve
- Cluster
- VA Corporation
- TEELABS
- Nunaps
- Foyr
- QuaQua
- Parallax Labs
- VRcollab
- Mind Palace
- ALO
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Virtual Reality Solutions Development Companies
- Virtual Reality Equipment and Solutions Distributors
- Potential Investors in Virtual Reality Companies
- Virtual Reality Association
- Utilities Sector Organizations
- Automotive Display Systems Development Companies
- Transportation Equipment Manufacturers
- Urban Mobility Systems Companies
- Industrial Power Generation Equipment Companies
- Commercial Power Generation Equipment Companies
- Research & Development Institutes
- Government Ministries and Departments of Information Technology
- Investors and financial community professionals
- PE and VC Firms focused on Information Technology Sector
Time Period Captured in the Report
- Historical Period: 2019-2021
- Forecast Period: 2022E-2030F
For more insights on the market intelligence, refer to the link below:
Asia Pacific Virtual Reality Market
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