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Global Virtual Reality market will be worth US$ 55 Billion by 2024

According to Renub Research Global Virtual Reality market will be worth US$ 55 Billion by 2024, and expected to grow with a staggering CAGR of 44.05% in future.

Roswell(18 Sep 2018)


Technological novelty will impact digital marketing, and one of the most interesting tools to enter the background in the past few years is Virtual Reality (VR). Virtual reality (VR) creates a 3D computer generated multi-sensory immersive surroundings, in which a person can explore, interact and became a part of the non-reality world. On the basis of component, virtual reality market is segmented into hardware and software. VR hardware comprises of sensors in the headset which tracks the user’s movements and change the user’s view accordingly. This gives users the feeling of being physically present in that environment. According to Renub Research Global Virtual Reality market will be worth US$ 55 Billion by 2024, and expected to grow with a staggering CAGR of 44.05% in future. 

Virtual reality is becoming attractive across many sectors like Live Events, Videogames, Video Entertainment, Retail, Education, Healthcare, Engineering, Military and Real Estate. Virtual Reality has transformed various industries for good such as it is helping architects to assess the designs and structure virtually, training to doctors is being done by VR at many places. Education sector is expected to have a paradigm shift as Virtual Reality has proven to be more effective in knowledge retention. Video game sector is becoming more interactive and drawing lot of audience. Virtual Reality (VR) is proving to be a boon for Retail and E-Commerce companies as it is helping them to assist their customers with the purchase decision by giving customers with the ability to visualize and personalize the products more realistically. Furniture and Home Décor stores are early movers in this category. 

Renub Research report titled Virtual Reality Market Global Analysis by Software (Videogames, Live Events, Real Estate, Retail, Engineering, Healthcare, Military, Video Entertainment and Education) Hardware (Consumer, Enterprise) Regions (North America, Europe, Asia, Latin America & Rest of the World) Companies (Sony, Facebook (Oculus), HTC, Samsung) provides a detailed and comprehensive insight of the Global Virtual Reality Market.