Virtual Reality (VR) is a computer technology used to create an artificial environment for users in such a form that seems as a real environment. Virtual reality means near-reality which generates realistic images, sounds and other sentiments that stimulate user presence in the virtual environment.
In simpler form, virtual reality is a 3D image that explores interactively at a computer and the image can be manipulated with the help of keys to give directions or zoom in or out. Augmented reality (AR) is also a form of VR which layers virtual information over live camera feed into headset or smartphone or tablet device. There is a difference between AR and VR. Augmented Reality is a method by which a real environment is supplemented by computer touch inputs, such as graphics, sound or video. Augmented reality improves real life with artificial images and adds graphics, while virtual reality replaces the real world with artificial ones. In AR, the user can interact with the real world, but in VR users cannot interact with the real world.
The VR platform is divided into two components including software and hardware. The software segment mainly contains content that is displayed through the HMD, which is a hardware component of the VR. Virtual reality has many applications in the real world. Today, virtual reality sets with 360-degree interactive environments are seen as the latest breakthrough in modern technology, while they can significantly affect how consumers work, entertain, make purchases and participate in social activities.
The growth of the market will mainly be driven by increasing VR users, rising disposable income, increasing investment, increasing GDP, rising smart phones users, use of VR for gaming. Key trends of this market include rising technological advancement, expanding applications, the launch of new products and increasing hardware investment. However, the growth of the market will also be hindered by inadequate content offering, limited use, expensive products and security issues.
The report “Global Virtual Reality Market: Industry Analysis & Outlook (2017-2021)” analyzes the development of this market. The major trends, growth drivers as well as issues being faced by the market are discussed in detail in this report. The four major players: Facebook, Google, Microsoft Corporation and HTC Corporation are being profiled along with their key financials and strategies for growth. The report contains a comprehensive analysis of the global VR market.