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Rising demand for virtual reality devices in changing the traditional way of imparting safety trainings to employees are expected to drive innovation in virtual reality devices manufacturing, thus driving the market during the forecast period.

The global virtual reality devices market is expected to grow from $10.15 billion in 2022 to $10.87 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The global virtual reality devices market is expected to grow to $14.19 billion in 2027 at a CAGR of 6.9%.

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Global Virtual Reality Devices Market Segments Include:

• By Type: Hand Held Devices, Head Mounted Devices, Gesture Controlled Devices, Other Types
• By Application: Medical & Healthcare, Commercial, Education, Advertsiing & Marketing, Commerce, Energy & Utilities, Entertainment & Gaming, Designing & Engineering, Logistics, Other Applications
• By Technology: Semi & Fully Immersive, Non-immersive
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global virtual reality devices market in 2021.

Major Market Players in the virtual reality devices market include Google, Sony Corporation, Samsung Electronics Co. Ltd., Oculus VR LLC., Marxent Labs, Microsoft Corporation, Apple, HTC Corporation, Qualcomm.

Integration of 5K stereoscopic video in VR devices is one of the growing trends that is changing the landscape of virtual reality device market. 5k stereoscopic video is a 5k-resolution video technology which replaces the previous 360 video low resolution technology used in VR headsets. This 5K stereoscopic video would provide a complete and detailed VR immersion experience for the viewers. For instance, Oculus VR, an American technology company, developed Guided Meditation VR which is virtual reality relaxation app that runs 5K stereoscopic video content on the Oculus Go (mobile headsets) version of the app.

The Virtual Reality Devices Global Market Report 2023  provides a virtual reality devices market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The virtual reality devices market forecast analyzes virtual reality devices market size, virtual reality devices market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Virtual reality (VR) devices are defined as devices that use advanced computer technology called virtual reality to create a simulated environment. VR devices such as head-mounted displays (HMD), gesture tracking devices (GTD), projectors, and display walls (PDW) allow users to immerse themselves in real environments and interact with 3D worlds.

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