5G or fifth generation technology is all about a high-speed data transmission & hyper-connected technology that offers great connectivity and also creates new value for both the individuals and the enterprises. With 5G, technologies like network slicing, cloud computing, edge computing, virtualization, artificial intelligence, and automation drive the new business models. These technologies contribute to the high-capacity, high-performance, high-reliability and low-latency associated with the 5G, all delivered at low total cost of ownership (TCO). The combination of high performance and low TCO is necessary, both in addressing the exponential growth in data-traffic and in handling the rising number of IoT devices. In addition to these technologies, 5G also impacts the virtual reality (VR) market and increase the growth of the virtual reality sector as well. VR blocks the outside-environment and transports the user to a fully-simulated world. It has practical applications in manufacturing, telemedicine, education and gaming. It opens new ways of working in many areas for instance media, automotive, manufacturing, gaming and healthcare, allowing for enhanced productivity. VR applications also open-up new business models & opportunities for service providers. Virtual reality is a combination of 5G access networks, edge-computing, high performance distributed 5G core capabilities and new device form factors that are bringing these new use-cases to life.
In the present time, when everything is moving toward the digitalization, demand for high data increases. To fulfill this demand and to give virtual reality users a great experience, 5G technology is the best solution that can provide billions of connections, which is a require for VR technology.
As per analysis, 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 the key companies operating in the North-America 5G enabled virtual reality market include Facebook, Integrated Device Technology Inc, Atmel Corporation, Huawei Technologies, Cypress Semiconductor Corp, Leap Motion, Inc., BARCO, HoloLens, Google, LG Corporation, Intel Corporation, Maxim Integrated, Leap Motion, Inc., NKK Switches, Microsoft Corporation, Orion Software, Nokia, Sixense Entertainment, Inc., Oculus, Qualcomm Inc., Sensics, Inc., Sixense STEM, Samsung Electronics, Rohm Semiconductor, Sixense STEM, VREAL, Texas Instruments, ZTE Corporation, Vuzix Corporation, VRWorks and among others.
5G enabled virtual reality market is segmented as component, application, and region. By component, market can be divided as software, services and hardware. The hardware segment is further sub-segmented into full feature devices (haptic & eyewear devices) and hardware components (haptic sensors & semiconductor). Services segment can be sub-segmented as professional services and managed services. Professional services can be further sub-segmented as training & support professional services, consulting and system integration. In addition, by application, market can be segmented as enterprise level, consumer level, and industrial level. Enterprise level segment includes health care, retail, and education. Consumer level comprises live events, gaming, and video entertainment. Additionally, the industrial level segment comprises engineering, civil aviation, military, agriculture, and government & public.
It is expected that future of the North-America 5G enabled virtual reality market will be optimistic as a result of introduction of advanced technologies during the forecast period.
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Ankur Gupta, Head Marketing & Communications