Immersive Virtual Reality Market Worth $1.88Bn by 2020: Grand View Research, Inc.
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Immersive Virtual Reality Market Worth $1.88Bn by 2020: Grand View Research, Inc.

SAN FRANCISCO, CA -- (Marketwired) -- Jan 11, 2016 -- The global immersive virtual reality market is expected to reach USD 1.88 billion by 2020, according to a new study by Grand View Research, Inc. The industry is expected to witness profound growth over the next five years, as more consumer devices hit the market. Immersive VR headsets came into prominence during 2013 with the arrival of the Oculus Rift Developer Kit. The device is widely credited with giving the consumer VR space a kick start and creating anticipation & hype among consumers. Over the past two years, the industry has witnessed arrival of several consumer version VR headsets such as the VRTX One, Durovis Dive, Homido, and the low-cost Google Cardboard, thereby popularizing the technology.

Presently, immersive VR headsets are only partly commercialized and several consumer versions are anticipated to be launched in 2015-2016, including the Oculus Rift, HTC Vive, Sony PlayStation VR, and FOVE. GTDs and other motion tracking peripherals have also gained significant acceptance as an accessory to the HMD. Virtual reality PDWs have evolved in technology and resolution. Development and provision of CAVE systems and VR rooms for consumers are expected to boost demand for PDWs.

Browse full research report with TOC on "Immersive Virtual Reality Market Analysis By Technology (Semi-Immersive, Fully Immersive), By Device (Head-mounted Display (HMD), Gesture Tracking Devices (GTD), Projectors & Display Walls (PDW)), By Application (Aerospace & Defense, Consumer Electronics, Medical, Retail) And Segment Forecasts To 2020" at: http://www.grandviewresearch.com/industry-analysis/immersive-virtual-reality-market

Technological development triggers a plethora of VR solutions with varied capabilities that allow users to experience utmost immersion. Making the VR experience more real serves as a key driver towards market penetration and adoption. Most of the available solutions are limited to head tracking leaving tremendous opportunities for the development of new technologies that increase the user's sense of immersion and presence.

VR devices may pose inconvenience to certain users owing to their ergonomics and weight. Bulky devices offer render users with a sense of fatigue and discomfort after prolonged use. Simulation sickness is one of the greatest hurdles to be overcome, while designing VR experiences. Key stakeholders have been focusing on the issue aggressively and tackling it with extreme precision, keeping sensitivity and user comfort at priority.

Further key findings from the report suggest:

Grand View Research has segmented the immersive virtual reality market on the basis of technology, device, application, and region:

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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