With the growing data-connectivity and high speed internet is becoming one of the most vital entity, believed as essential for the consumers across commercial as well as industrial sector. Fifth generation or 5G technology is one such technology that provide a variety of innovative advanced features which makes it most reliable and in huge demand in the future for all end users. One such use of this technology is in the field of the virtual reality. Presently, virtual reality has gained the grip owing to innovations in the technology used in it. Generally, it is the emergence of computer technology that encourages the software to produce the accurate images, sounds, and various sensations that imitate the original environment. Vendors as well as governments are emphasizing on appropriation of the 5G network. For example, a few appliances, which are empowered with virtual technologies that call for real-time video transmission & high bandwidth, have been developed. With the use of 5G, virtual reality systems would be acquainted with the rich content and attract various number of industries.
As per study, “Global 5G Enabled Virtual Reality (VR) Market 2020-2030 by Offering (Hardware, Software, Service), End Use (Consumer, Commercial, Industrial), and Region: Trend Forecast and Growth Opportunity” the key companies operating in the global 5G enabled virtual reality market include Integrated Device Technology Inc, Atmel Corporation, Cypress Semiconductor Corp, HoloLens, Intel Corporation, BARCO, Google, Facebook, Microsoft Corporation, Leap Motion, Inc., Maxim Integrated, NGRAIN, LG Corporation, NKK Switches, Qualcomm Inc., Nokia, Orion Software, Oculus, Sixense Entertainment, Inc., Rohm Semiconductor, Semtech Corporation, VREAL, Samsung Electronics, Sixense STEM, Sixense MakeVR, Sensics, Inc., StreamVR, Vuzix Corporation, ZTE Corporation, VRWorks, Texas Instruments. Leading companies are indulged in developing virtual reality devices that are 5G enabled in order to serve the end-users with some better solutions.
By offering, 5G Enabled Virtual Reality (VR) market is segregated as software, hardware and services. Software is further categorized into commercial, consumer and industrial. Hardware is further categorized into hardware components and full feature devices. In addition, by end-use, market is segregated as commercial, consumer and industrial. Commercial includes e-learning & education, ecommerce & retail, real estate, healthcare and other commercial sectors. Consumer includes entertainment & media, gaming and other consumer sections. Additionally, industrial sector includes defense & aerospace, manufacturing, farming, pharmaceutical industry and other industrial sectors.
The 5G Enabled Virtual Reality (VR) market is driven by evolution of the 5G technology, followed by growth in technological advancements in the field of semiconductors & sensors and increased proliferation of connected devices & mobile across a number of industries. However, high cost of virtual reality devices and difficultly in maintenance may impact the market. Moreover, increase in investments by many giant organizations in the technology is a key opportunity for market.
By regional analysis, the North-American region dominates the global 5G Enabled Virtual Reality (VR) market owing to introduction of advanced technologies across the region. The Asia-Pacific and Europe regions are estimated to witness higher growth rate due to fast-growing 5G deployment and active users over the forecast period.
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North America 5G Enabled Virtual Reality (VR) Market 2020-2030 by Offering (Hardware, Software, Service), End Use (Consumer, Commercial, Industrial), and Country: Trend Forecast and Growth Opportunity
Ankur Gupta, Head Marketing & Communications