New York/Houston (Texas) The global VR market is growing immensely at an annual rate of around 40 %. Numerous market research institutes such as Research N Reports, Zion Market Research or Research Nester come to this analytical conclusion.
But which market segments within the VR market are actually driving growth? – The US market researcher Research Nester provides a partial response to this in its recently updated analysis “Head Mounted Devices Market: Global Demand Analysis & Opportunity Outlook 2021”. In the forecast period 2014 to 2020, the market researcher assumes an average annual growth rate of 56.8%. For example, the market value is expected to increase from approximately 887.5 million US dollars at the end of 2014 to 13,168 million US dollars at the end of 2020. The main reason for this is the ever-improving technology, which is leading to increased use in the gaming segment, at universities and in company training.
According to Research Nester, the North American market recorded as much as 36% of the global market volume for head-mounted displays in 2014. Europe came in second, mainly because of its huge automotive industry. Although the technology is likely to continue to spread everywhere, the Asiatisch-Pacific region is likely to experience the strongest growth.
Image: ©Tierney – stock.adobe.com
