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Market Highlights

Virtual Reality is an artificial environment, based on computer data, which accurately represents the physical aspects and the dynamic behaviour of a model of the real world. Users and engineers are enabled to interact with the objects of the virtual environment using various virtual reality tools. The data helmet, the boom and stereo shutter glass are some well-known VR tools which are in to full or partial immersion into VR world. The gaming and entertainment industry is demanding for VR headsets (head-mounted displays), these VR headsets are widely used in computer games. Therefore professional gamers are the major driving forces of virtual reality market.

Regional Analysis

The competitive landscape of the Global VR software market is formed by major players of the market and some of the new entrants. The virtual reality has driven many areas like Aerospace & Defence, Gaming & Entertainment, Diagnostics & surgeries and many more. North America leads the market for Global Virtual Reality. Many of the technical giants from North America like Facebook, Qualcomm, Google, and Microsoft have already entered virtual reality market. Qualcomm Inc. an American telecommunications equipment company developed a new virtual reality (VR) software development kit (SDK). The new Snapdragon VR SDK is designed to abstract the complexity of immersive virtual reality and provide developers with access to optimized, advanced VR features, to simplify development and to help them attain improved VR performance and power efficiency with the Snapdragon 820 for Android smartphones and upcoming VR headsets. Europe has the potential to become a leading region in the VR market. In February 2017, LucidWeb, a Belgian VR and WebVR consulting and development agency partnered with Silicon Valley-based venture firm named The Venture Reality Fund and started working together to capture the European market. Chinese tech companies have already carved out their own niche in the VR space, creating their own eco-systems, demand, content, platforms and more – to cater to their domestic market. One such company is Superb Medical Skills. The company has developed China's first VR “live” surgery application, supported by more than 3,700 practitioners from all over the country to deliver clinical training to both doctors and trainees through VR headsets.

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The growth in VR market is being supported by various factors that include the high demand of virtual reality for training purposes in defence sector, demand for VR headsets in medical sector to train students for surgery, and other operations. Though virtual reality is becoming a boom in the market, but factors such as technical complexity, compatibility issues and high cost are limiting the overall growth of the market.

For the purpose of this study the market for virtual reality market is divided in to type (3D Modelling Software, 360 Degree Custom VR Software, Real time simulation), by Deployment (On-Premise, Cloud), by application (Aerospace & Defence, Gaming & Entertainment, Diagnostics & Surgeries, Tourism, Others) and by region.

List Of Key Companies:

Global Virtual Reality software market holds some of the key players like Google Inc. (U.S.), Microsoft Corporation (U.S.), Blippar Inc. (U.K), Pixologic Inc. (U.S.), Metaio Gmbh (Germany), Qualcomm Incorporated (U.S.), Oculus VR, LLC (U.S.), WorldViz. (U.S.), Starbreeze Studios (Sweden), Razer Inc. (Singapore), HTC Corporation (Taiwan), and BAE Systems AB (Sweden).

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