Location Based Virtual Reality Market: Emerging Opportunities, Trends and Forecast Analysis (2021-2027) by Type and Application and Region.

Location Based Virtual Reality market was valued at US$ 5.6 Bn. in 2020 and expected to grow at a CAGR of 18.2% during the forecast period (2021-2027). Thanks to the growing trend of ammonia segment use has boosted demand for Global Location Based Virtual Reality Market.

Location Based Virtual Reality Market Overview:

An environment can be created by the use of technology, which appears to be real and can touch objects but cannot be able to feel it. Three primary categories of virtual reality are non-immersive, semi-immersive, and fully-immersive simulations. The equipment used to create virtual reality is head-mounted displays (HDMs), immersive rooms, datagloves, and wands. They help in improving knowledge retention, improve attentiveness and reduce training time, increase reaction time and decision-making skills, and develop soft skills. These are the features creating the huge demand for location-based virtual reality market. As a result, the global location-based virtual reality market is expected to reach US$ 26.65 Bn during the forecast period. Location Based Virtual Reality Market To know about the Research Methodology :- Request Free Sample Report The report has covered the market trends from 2015 to forecast the market through 2027. 2019 is considered a base year however 2020’s numbers are on real output of the companies in the market. Special attention is given to 2020 and effect of lockdown on the demand and supply, and also the impact of lockdown for next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.

Location Based Virtual Reality Market Dynamics:

Increasing demand for virtual reality hardware, raising gaming and entertainment industry, and advancement in 3-D and cutting edge technology is creating a huge demand for the location-based virtual reality market. Commercialization through gaming and demand for e-learning are adding an advantage to the growth of the market. Raising competition for VR cinema, increasing e-commerce and sports sectors are driving the market growth. In 2019 world largest theater chain firm AMC launched a streaming service and the world’s largest mall called “New south china mall” introduced the location-based virtual reality. These recent developments created a huge demand for the virtual reality market. Recent technological development like duel-OLED displays by HTC Vivo pro, 4K OLED displays with M1 chipset developed by apple, and in December 2021, “ARPARA” a leading VR brand had launched 5K dual micro-OLED VR headset to increase the visual experience are creating the growth of virtual reality market. An innovative head “Carzso” agreed with the View360degrees to offer VR-based technology in the automobile industry to improve the user experience is adding an advantage to the market growth. Virtual reality deteriorates the human connection for example-education is dependent on human communication and interpersonal connection, the presence of complex technology, high cost, and creating obsession among the people which is leading to violence and illegal activities. These are some factors slowing the growth of the global location-based virtual reality market.

Location Based Virtual Reality Market Segmentation:

Based on Type Segment, The Location-Based Virtual Reality market is sub-segmented into software and hardware. The software segment dominates the global market and it held a share of 58 % in 2020. This VR technology helps consumers in virtually testing a product, expanding e-learning, and creating a 3D model so that users can interact with any objects at any angle. On the other hand, location-based VR technology is boosting the gaming industry and architectures and engineers are benefitting from this VR-based 3D technology in their building designs. As a result of this feature, the software segment is expected to dominate the market during the forecast period. Location Based Virtual Reality MarketBased on Application Segment, the Location-Based Virtual Reality market is sub-segmented into VR arcades, VR theme parks, and VR cinemas. The VR arcade segment dominates the global market and was valued at US$ 4.1 Bn in 2020. VR arcades are helping in burning calories because most of the games played in VR arcade are depends on body movement. And it creates a new experience for the users in a safe environment and enhances the expressiveness of the children. Because of these features, the VR arcade segment is dominating the market.

Location Based Virtual Reality Market regional insights:

Asia-Pacific is the dominating region in the Location-Based Virtual Reality market. The existence of large and emerging economies, as well as the growing acceptance of virtual reality devices in the region and increasing investments in the technology and gaming industries, are driving the market growth in this region. Deployment of a 5G network system is likely to accelerate VR development and create demand in fields such as education and training. In 2021, Daimler India Commercial Vehicles (DICV) worked on virtual reality-based 3D goggles and navigational joysticks at its Chennai office. In November 2021, china people are eagerly subscribed to an online metaverse program based on VR technology, which is generated a revenue of US$ 251283. These recent developments add an advantage to the market growth. North America is the second dominating region in the Location-Based Virtual Reality market. Increasing investment in healthcare and Defence technology, use of technology in education, and attraction of youths towards VR gaming, etc are the factors attracting the growth of the market in this region. In December 2021, facebook’s parent company Meta launched “Horizon Worlds”, it is a virtual reality platform, which helps to interact face-to-face with people and builds their world. These developments attract more investments in this region, as a result, boosting the market. The objective of the report is to present a comprehensive analysis of the global Location Based Virtual Reality market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Location Based Virtual Reality market dynamics, structure by analyzing the market segments and projecting the Location Based Virtual Reality market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Location Based Virtual Reality make the report investor’s guide.

Location Based Virtual Reality Market Scope: Inquiry Before Buying

Location Based Virtual Reality Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: US $  18.2 Bn.
Forecast Period 2021 to 2027 CAGR: 5.6 % Market Size in 2027: US $ 26.65 Bn.
Segments Covered: by Type • Software • Hardware
by Application •  VR arcades • VR theme parks • VR cinemas

Location Based Virtual Reality Market, by Region

• North America • Europe • Asia Pacific • Middle East and Africa • South America

Location Based Virtual Reality Market Key Players

• BidOn Games Studio • Exit Realty Corporation • Tyffon Inc. • Cortex • Space VR • NEXT NOW, INC. • Huawei Technologies Co., Ltd. • Google, LLC • Science Soft USA Corporation. • The Void, LLC • Survios, Inc. • Neurogaming • HQ Software • Hologate • HTC Corporation • MOFABLES • Intel Corporation • Craftars • Oculus VR • Zero Latency PTY LTD • Appentus Technologies Frequently Asked Questions: 1. Which region has the largest share in Location Based Virtual Reality Market? Ans: Asia-Pacific held the largest share in 2020. 2. What is the growth rate of the Location Based Virtual Reality Market? Ans: The Location Based Virtual Reality Market is growing at a CAGR of 5.6 % during the forecasting period 2021-2027. 3. What segments are covered in Location Based Virtual Reality Market? Ans: Location Based Virtual Reality Market is segmented into type and application. 4. Who are the key players in Location Based Virtual Reality Market? Ans: BidOn Games Studio, Exit Realty Corporation, Tyffon Inc., Cortex, SpaceVR, NEXT NOW, INC., Huawei Technologies Co., Ltd., Google, LLC, ScienceSoft USA Corporation, The Void, LLC, Survios, Inc, Neurogaming, HQSoftwar, Hologate, HTC Corporation, MOFABLES, Intel Corporation, Craftars, Oculus VR, Zero Latency PTY LTD, Appentus Technologies 5. What is the study period of this market? Ans: The Location Based Virtual Reality Market is studied from 2020 to 2027.
1. Global Location Based Virtual Reality Market: Research Methodology 2. Global Location Based Virtual Reality Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Location Based Virtual Reality Market 2.2. Summary 2.1.1. Key Findings 2.1.2. Recommendations for Investors 2.1.3. Recommendations for Market Leaders 2.1.4. Recommendations for New Market Entry 3. Global Location Based Virtual Reality Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12 COVID-19 Impact 4. Global Location Based Virtual Reality Market Segmentation 4.1 Global Location Based Virtual Reality Market, by type (2020-2027) • Software • Hardware 4.2 Global Location Based Virtual Reality Market, by Application (2020-2027) • VR arcades • VR theme parks • VR cinemas 5. North America Location Based Virtual Reality Market (2020-2027) 5.1 Global Location Based Virtual Reality Market, by type (2020-2027) • Software • Hardware 5.2 Global Location Based Virtual Reality Market, by Application (2020-2027) • VR arcades • VR theme parks • VR cinemas 5.4 North America Location Based Virtual Reality Market, by Country (2020-2027) • United States • Canada • Mexico 6. Asia Pacific Location Based Virtual Reality Market (2020-2027) 6.1. Asia Pacific Location Based Virtual Reality Market, by type (2020-2027) 6.2. Asia Pacific Location Based Virtual Reality Market, by Application (2020-2027) 6.3. Asia Pacific Location Based Virtual Reality Market, by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 7. Middle East and Africa Location Based Virtual Reality Market (2020-2027) 7.1 Middle East and Africa Location Based Virtual Reality Market, by type (2020-2027) 7.2. Middle East and Africa Location Based Virtual Reality Market, by Application (2020-2027) 7.3. Middle East and Africa Location Based Virtual Reality Market, by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 8. Latin America Location Based Virtual Reality Market (2020-2027) 8.1. Latin America Location Based Virtual Reality Market, by type (2020-2027) 8.2. Latin America Location Based Virtual Reality Market, by Application (2020-2027) 8.3. Latin America Location Based Virtual Reality Market, by Country (2020-2027) • Brazil • Argentina • Rest Of Latin America 9. European Location Based Virtual Reality Market (2020-2027) 9.1. European Location Based Virtual Reality Market, by type (2020-2027) 9.2. European Location Based Virtual Reality Market, by Application (2020-2027) 9.3. European Location Based Virtual Reality Market, by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 10. Company Profile: Key players 10.1. Johnson Control 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Exit Realty Corporation 10.3 Tyffon Inc. 10.4 Cortex 10.5 SpaceVR 10.6 NEXT NOW, INC. 10.7 Huawei Technologies Co., Ltd. 10.8 Google, LLC 10.9 ScienceSoft USA Corporation. 10.10 The Void, LLC 10.11 Survios, Inc. 10.12 Neurogaming 10.13 HQSoftware 10.14 Hologate 10.15 HTC Corporation 10.16 MOFABLES 10.17 Intel Corporation 10.18 Craftars 10.19 Oculus VR 10.20 Zero Latency PTY LTD 10.21 Appentus Technologies

About This Report

Report ID 42067
Category Electronics
Published Date Dec 2019
Updated Date Dec 2021
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