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Pulished Date April, 2021
ID: 8701
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Location Based Virtual Reality (VR) Market Research Report - Segmentation By Type (Hardware, Software), Application (VR Arcades, VR Theme Parks, VR Cinemas) and Region - Global Forecast to 2026

Pulished: April, 2021
ID: 8701
Pages: 175

Location Based Virtual Reality (VR) Market Size & Growth (2021-2026)

The Location-Based VR market is estimated at USD 10.9 billion in 2020 and is expected to grow at a CAGR rate of 34% to reach USD 51.6 billion in 2026.

Advances in VR material developed using 3D, 4D, and 5D techniques, resulted in 360-degree VR videos being introduced. In accordance with the popularity and acceptance of location-based VR, the growing popularity of videos at 360° is one of the most important developments in the world market for gaming material. 360° videos will be created with advanced camera systems that simultaneously record the whole 360° perspective of a scene. VR makes significant headway in the entertainment field with the assistance of these techniques, finding its way to different digital arenas and mainstream gaming platforms. As the demand is increasing, the world market for VR gaming is probable to expand.

Virtual Reality based on location is a place where VR devices are deployed so that users can experience VR by interacting physically with the environment in a way that they cannot in their household. Among the experiences LBVR allows are wandering through a haunted house or a warehouse with foam walls that sound like a variety of bricks.

While some LBVR experiences give visitors a VR headset, a VR backpack PC and a custom room, other LBVR experiences offer users a portable, non-tethered VR headset combined with roller coasters, wind tunnels, and other actions.

The Location-Based VR market is still in its beginnings. Realizing the VR experience is a key engine for business acceptance and penetration. Another main driver of the development of the Location-Based VR market is the increased deployment of VR technology, rising investment in VR and the increasing popularity of 360-degree material. In this sector, high-quality content is a key factor, and the market is anticipated to increase as high-quality, more convincing content attracts a broad demographic base.

Research Methodology

Market research involves studying market trends, growth patterns, and understanding the influence of variables like macro and microeconomic conditions, geopolitical, and demographic conditions on the market value and market dynamics.

The research methodology used to calculate and forecast the Location-Based VR market began by collecting information on the market key player's sales using multiple sources via secondary research. In order to identify market segmentation, supplier offers have been considered.

Market value and expected growth

The location-based virtual Reality is a set of elements in software and hardware which allow end-users to visualize and experiment with virtual surroundings in real-time. Virtual Reality involves software and hardware necessary to provide a true or imaginary virtual environment and to communicate with it further. The demand for location-based online truth is anticipated to increase worldwide, primarily because of increased apps in end-use industries like health, education, gaming, media, and leisure.

The virtual reality market is rapidly growing, and the location-based VR market is rapidly proceeding. The emergence of fresh techniques such as 3D, 4D, 5D, and sophisticated VR content introduces VR with 360-degree displays and is now one of the major developments on the world's gaming content industry. The entire 360 ° perspective of a picture is recorded at the same time by these camera technologies.

With the aid of these sophisticated techniques, the entertainment sector has seen significant progress. Different digital arenas and mainstream gaming platforms are on the verge of increasing demand for immersive environments. The quality material generated by sophisticated camera technologies is anticipated to increase the popularity and adoption of location-based VR and demonstrate the huge VR business possibilities over the forecast period.

Statistics from YouTube published in early 2019 indicated that around 3.1 million individuals have a subscription to the official YouTube VR channel, which features best 360-degree VR films.

The location-based VR market is anticipated to grow significantly from 2019 to 2024, due to the growing applications in multiple end-use industries such as retail, aerospace, gaming, etc. In addition, the industry is anticipated to grow to the latter part of the forecast period (2022-2024), as parts such as hardware headsets and glasses have been widely used, and software and facilities among end-users have been increased. Value production in the business industry is anticipated in 2019 for the place centered VR industry.

Market Drivers Limitations

The Location-Based VR market size is exponentially expanding owing to the following:

  1. Increased VR technology application with VR headsets and other VR equipment, including Gaming Motion Controllers.
  2. Expanding Location-Based VR implementation base and fast technological progress.
  3. Technology development and increasing digitalization and accessible VR equipment accessibility have beneficial business impacts.

Restraints of Location-Based VR market can be:

  1. High initial setup cost.
  2. Poor generated content is one of the main problems facing the VR sector (absence of high-quality VR content).
  3. Opportunities
  4. Emerging markets growth possibilities.

Market Segmentation

Location Based Virtual Reality (VR) Market - By Type

  • Hardware
  • Software

Location Based Virtual Reality (VR) Market - By Application

  • VR Arcades
  • VR Theme Parks
  • VR Cinemas

As the amount of 4D movies, amusement parks and thematic sights in these areas increases as the youthful population in these areas grows, there is an ever-growing demand to locate VR in Europe and the Asia Pacific. In Europe, businesses deploy sophisticated client assistance approaches for ongoing communication and review, such as chatbots and social media platforms. The development of Asian Pacific manufacturing sectors is also boosting the use of VR in the car industry in the region.

Location Based Virtual Reality (VR) Market - By Region

  1. North America
  2. Asia Pacific
  3. Latin America
  4. Middle East & Africa
  5. Europe

Key players in the market:

Some of the main competitors present in the current industry include:

  1. The Void LLC
  2. Exit Realty Corporation
  3. SpaceVR
  4. Survios Inc.
  5. Hologate
  6. Zero Latency PTY LTD
  7. Oculus VR Inc.
  8. HTC Vive Tech Corporation
  9. Tyffon inc
  10. Neurogaming

Key highlights of the research report

  • This report provides a detailed quantitative analysis of the current market and estimates for the years 2019-2024, which help identify the prevailing market opportunities.
  • Important changes in market dynamics.
  • Report and evaluation of recent developments in the industry.
  • Competitive intelligence helps to understand the competitive scenario in geographical regions.
  • The key players in the market are described in detail in this report, and their strategies are analyzed in-depth to understand the competitive advantage of the market better.

Recent Developments

  • May 2019–Since its initial launch in 2017, Hologate has announced that it has reached 2 million VR milestone.
  • March 2019— The Void has announced its growth in China, Maltese Malaysia, Singapore, Hong Kong, and the Asia Pacific with a focus on investing more.
  • Oculus announced in January 2018, in cooperation with Xiaomi and Qualcomm, its latest independent VR headset. This headset is primarily aimed at the Chinese industry and has lower prices than Rift.

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Study Deliverables                  

                1.3 Base Currency, Base Year and Forecast Periods

                1.4 General Study Assumptions                

2. Research Methodology                                           

                2.1 Introduction                               

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Econometric Modelling      

                                2.2.4 Expert Validation  

                2.3 Analysis Design                         

                2.4 Study Timeline                          

3. Overview                                       

                3.1 Executive Summary                

                3.2 Key Inferences                         

                3.3 Epidemology                              

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)

                4.1 Market Drivers                          

                4.2 Market Restraints                    

                4.3 Key Challenges                         

                4.4 Current Opportunities in the Market                              

5. Market Segmentation                                              

                5.1 Type                              

                                5.1.1 Introduction           

                                5.1.2 Hardware

                                5.1.3 Software  

                                5.1.4  Y-o-Y Growth Analysis, By Type    

                                5.1.5  Market Attractiveness Analysis, By Type  

                                5.1.6  Market Share Analysis, By Type    

                5.2 Application                 

                                5.3.1 Introduction           

                                5.3.2 VR Arcades             

                                5.3.3 VR Theme Parks   

                                5.3.4 VR Cinemas            

                                5.3.5 Y-o-Y Growth Analysis, By Application        

                                5.3.6  Market Attractiveness Analysis, By Application

                                5.3.7  Market Share Analysis, By Application       

6. Geographical Analysis                                              

                6.1 Introduction                               

                                6.1.1 Regional Trends    

                                6.1.2 Impact Analysis     

                                6.1.3 Y-o-Y Growth Analysis        

                                                6.1.3.1 By Geographical Area

                                                6.1.3.2 By Type

                                                6.1.3.3 By Application

                                6.1.4  Market Attractiveness Analysis     

                                                6.1.4.1 By Geographical Area

                                                6.1.4.2 By Type

                                                6.1.4.3 By Application

                                6.1.5  Market Share Analysis      

                                                6.1.5.1 By Geographical Area

                                                6.1.5.2 By Type

                                                6.1.5.3 By Application

                6.2 North America                          

                                6.1.1 Introduction           

                                6.1.2 United States         

                                6.1.3 Canada     

                6.3 Europe                         

                                6.2.1 Introduction           

                                6.2.2 U.K             

                                6.2.3 Spain         

                                6.2.4 Germany 

                                6.2.5 Italy            

                                6.2.6 France       

                6.4 Asia-Pacific                 

                                6.3.1 Introduction           

                                6.3.2 China         

                                6.3.3 India          

                                6.3.4 Japan         

                                6.3.5 Australia   

                                6.3.6 South Korea           

                6.5 Latin America                             

                                6.4.1 Introduction           

                                6.4.2 Brazil          

                                6.4.3 Argentina

                                6.4.4 Mexico     

                                6.4.5 Rest of Latin America          

                6.6 Middle East & Africa               

                                6.5.1 Introduction           

                                6.5.2 Middle-East            

                                6.5.3 Africa         

7. Strategic Analysis                                       

                7.1 PESTLE analysis                         

                                7.1.1 Political     

                                7.1.2 Economic 

                                7.1.3 Social         

                                7.1.4 Technological         

                                7.1.5 Legal          

                                7.1.6 Environmental       

                7.2 Porter’s Five analysis                              

                                7.2.1 Bargaining Power of Suppliers        

                                7.2.2 Bargaining Power of Consumers    

                                7.2.3 Threat of New Entrants     

                                7.2.4 Threat of Substitute Products and Services

                                7.2.5 Competitive Rivalry within the Industry     

8. Market Leaders' Analysis                                        

                8.1 The Void                      

                                8.1.1 Overview 

                                8.1.2 Product Analysis   

                                8.1.3 Financial analysis  

                                8.1.4 Recent Developments       

                                8.1.5 SWOT analysis       

                                8.1.6 Analyst View          

                8.2 Tyffon inc.

                8.3 Exit Realty Corporation                          

                8.4 SpaceVR                      

                8.5 Survios                         

                8.6 Hologate                      

                8.7 Zero Latency PVT LTD                          

                8.8 Oculus VR                    

                8.9 HTC Vive Tech Corporation                  

                8.10 Neurogaming                          

9. Competitive Landscape                                           

                9.1 Market share analysis                            

                9.2 Merger and Acquisition Analysis                       

                9.3 Agreements, collaborations and Joint Ventures                         

                9.4 New Product Launches                         

10. Market Outlook and Investment Opportunities

Appendix                                           

                a) List of Tables                

                b) List of Figures                              

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of By Type, By Application and along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Locaton-Based VR Market By Region, From 2021-2026 ( USD Billion )
  2. Global Locaton-Based VR Market By Type, From 2021-2026 ( USD Billion )
  3. Global Hardware Market By Region, From 2021-2026 ( USD Billion )
  4. Global Software Market By Region, From 2021-2026 ( USD Billion )
  5. Global Locaton-Based VR Market By Application, From 2021-2026 ( USD Billion )
  6. Global  VR Arcades Market By Region, From 2021-2026 ( USD Billion )
  7. Global  VR Theme Parks Market By Region, From 2021-2026 ( USD Billion )
  8. Global VR Cinemas Market By Region, From 2021-2026 ( USD Billion )

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