Global Virtual Reality Market Report 2020: Using VR Technology to See into Patient's Lungs in the Fight Against the Coronavirus
DUBLIN, Sept. 22, 2020 /PRNewswire/ -- The "Virtual Reality Market Size, Share & Trends Analysis Report by Device (HMD, GTD), by Technology (Semi & Fully Immersive, Non-immersive), by Component, by Application, by Region, and Segment Forecasts, 2020 - 2027" report has been added to ResearchAndMarkets.com's offering.
The global virtual reality market size is expected to reach USD 62.1 billion by 2027. The market is anticipated to expand at a CAGR of 21.6% from 2020 to 2027.
Virtual Reality Market Report Highlights
Driven by artificial intelligence and automation, virtual reality is redefining the strategies taken by organizations in their course of operations. It is delimited as the application of computer technology to build a simulated environment that brings a digital world to the users. Smartphone, coupled with headsets, has been the most prevalent use of delivering digitally immersed experiences for years now. However, VR has shown some compelling industrial use cases, such as real-estate and tourism applications.
Furthermore, the necessitated adoption of the WFH (Work-From-Home) policy due to nationwide lockdown in several countries, virtual conferencing has become the preferred mode of communication among employees. Therefore, from accelerated lung diagnosis to virtual meet-ups in organizations, VR is at the forefront in the fight against this pandemic.
One of the significant challenges for the current VR technology is the requirement of encumbering display units and headsets, where the processing hardware for graphics generation is typically contained within the headset. However, the trend of untethered hardware devices is addressing the challenge.
For instance, Apple Inc. is planning to launch a new VR and AR capable headset that will not be tethered to a smartphone or computer. Moreover, Facebook renewed its Oculus headset as the self-contained Oculus Quest version, which doesn't need to be connected to a PC or smartphone.
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SOURCE Research and Markets