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Virtual Reality (VR) Headset Market to Grow by USD 25.2 Billion (2024-2028), Gaming Industry Expansion Fuels Demand, Report on How AI Drives Transformation – Technavio

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NEW YORK, Nov. 15, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global virtual reality vr headset market size is estimated to grow by USD 25.2 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 45.95% during the forecast period. Rising interest and growth in gaming industry is driving market growth, with a trend towards growing ar/vr integration introduced by vendors. However, rising health concerns and problems related to user comfort poses a challenge.Key market players include Alphabet Inc., Apple Inc., ASUSTeK Computer Inc., ByteDance Ltd., FOVE Inc., Goertek Inc., HP Inc., HTC Corp., LG Electronics Inc., Meta Platforms Inc., Microsoft Corp., NOLO Co. Ltd., Pimax Inc., Samsung Electronics Co. Ltd., Seiko Epson Corp., Sony Group Corp., Valve Corp., Varjo Technologies Oy, WorldViz Inc., and Xiaomi Communications Co. Ltd..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Virtual Reality VR Headset Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 45.95%

Market growth 2024-2028

USD 25199.01 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

41.74

Regional analysis

North America, APAC, Europe, Middle East and Africa, and South America

Performing market contribution

North America at 34%

Key countries

US, China, Japan, Germany, and UK

Key companies profiled

Alphabet Inc., Apple Inc., ASUSTeK Computer Inc., ByteDance Ltd., FOVE Inc., Goertek Inc., HP Inc., HTC Corp., LG Electronics Inc., Meta Platforms Inc., Microsoft Corp., NOLO Co. Ltd., Pimax Inc., Samsung Electronics Co. Ltd., Seiko Epson Corp., Sony Group Corp., Valve Corp., Varjo Technologies Oy, WorldViz Inc., and Xiaomi Communications Co. Ltd.

Market Driver

The Virtual Reality market is experiencing significant growth with various companies leading the way. Google Cardboard and Move Motion Controller offer affordable, non-immersive VR experiences. PlayStation Headset, Quest, Microsoft HoloLens, and others provide semi- to fully immersive experiences. Virtual training and designing applications are trending in commercial industries, healthcare, and military sectors. Virtual Reality headsets, also known as Head-Mounted Displays (HMD), include devices from Oculus Rift, PlayStation VR, HTC Vive, and new entrants like Pico and Meta. Health concerns such as dizziness, lethargy, and eyesight/hearing issues are being addressed through advancements in software, hardware, and content. VR simulators and glasses are transforming industries like healthcare, with applications in medical training, patient care systems, and planned surgeries using companies like VirtaMed. The Virtual Reality market also caters to entertainment, with live events like Foo Fighters’ Meta virtual stage, and devices like Oculus Rift and PlayStation VR. The market is driven by large technology companies and start-ups, offering a range of devices from compact, high-resolution HMDs to head-up displays and VR projectors. The adoption of VR is expanding beyond gaming into retail sectors, military training, and even commercial real estate. With advancements in sensors, processors, and AR devices, the future of Virtual Reality is promising. 

The Virtual Reality (VR) and Augmented Reality (AR) markets are experiencing significant growth due to the integration of these technologies. AR overlays digital content onto the physical world, enhancing user experiences. In the gaming industry, major players like Microsoft with HoloLens 2, are combining AR and VR for holographic games. Outside of gaming, businesses use AR/VR for training, simulations, and collaboration. Companies such as Oculus and HTC produce VR headsets with AR capabilities for enterprise applications. This technology revolution is transforming industries by providing interactive and engaging solutions. 

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Market Challenges

The Virtual Reality (VR) headset market is experiencing significant growth with major players like Google Cardboard, Move Motion Controller, PlayStation Headset, Oculus Quest, Microsoft HoloLens, and others leading the way. Virtual training and designing are key industries adopting VR technology for assistance and simulation events. Commercial industries, healthcare, and military are also exploring VR for patient care systems, medical training with companies like VirtaMed, and planned surgeries. Challenges include health concerns such as dizziness, lethargy, and eyesight or hearing issues. Hardware and software development, content creation, and VR simulators are crucial for VR headsets like Pico, Meta, and VR glasses (Head Mounted Displays). The VR market includes devices like Oculus Rift, PlayStation VR, and HTC Vive, as well as non-immersive and semi-immersive devices. Large technology companies and start-ups are investing in VR devices, head-up displays, VR projectors, and compact devices with high-resolution displays. VR adoption is expanding in sectors like retail, gaming, computer hardware, and live virtual entertainment, with events featuring artists like Foo Fighters on Meta’s virtual stage. However, challenges remain in addressing VR sickness, neck pain, and low resolution.Virtual Reality (VR) headsets offer an experience, but their long-term use comes with health risks. One such risk is motion sickness or virtual reality sickness, which occurs when there’s a discrepancy between the user’s perceived motion and actual motion. This can lead to symptoms like nausea, vertigo, and pain, making VR technology less accessible. Additionally, prolonged usage can cause visual fatigue and eye strain due to the intense focus required in virtual environments. Manufacturers are working to address these issues by creating more comfortable headsets and reducing motion sickness symptoms to expand the user base.

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Segment Overview

This virtual reality vr headset market report extensively covers market segmentation by

Application1.1 Commercial1.2 IndividualType2.1 Mid-range device2.2 Low-end device2.3 High-end deviceGeography3.1 North America3.2 APAC3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Commercial- The commercial segment holds a substantial share in the global virtual reality (VR) headset market. Businesses utilize VR technology in various ways to enhance training, experiences, and productivity. Applications span across industries, including education, entertainment, and enterprise solutions. VR headsets are increasingly adopted for corporate training and simulation, enabling staff to practice skills in a risk-free virtual environment, thereby reducing training costs. Architectural and design firms also leverage VR for three-dimensional concept visualization and collaboration, fostering creativity and teamwork. Leading VR market players, like HTC Vive, Pico Interactive, and Meta-owned Oculus, cater to commercial needs with customized solutions. The demand for corporate VR headsets is projected to expand significantly, transforming collaboration and training methods in numerous industries. In addition, VR has revolutionized entertainment, with applications extending from gaming to virtual tourism to live events. Gaming experiences have fueled commercial VR adoption, attracting a dedicated user base. VR extends the reach of live events by providing spectators a front-row seat from home, such as concerts and sports. These factors contribute to the growth of the global VR headset market in the forecast period.

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Research Analysis

Virtual Reality (VR) headsets have revolutionized the way we experience technology. These devices transport users into a 3D world, providing an unparalleled level of engagement. Notable VR headsets include Google Cardboard, PlayStation Headset, Quest, HoloLens, Pico, and Meta Quest. The VR market is expanding rapidly, with healthcare, military, and consumer sectors leading the adoption. In healthcare, VR is used for surgeon training, while the military employs it for simulation-based training. Retail sectors also leverage VR for virtual try-ons. Sensors and processors are crucial components, enhancing the user experience. Virtual reality technology continues to evolve, with companies investing heavily to push the boundaries of this exciting technology. The Apple Vision Pro and Meta Quest Pro are upcoming releases that promise to further advance the VR experience.

Market Research Overview

The Virtual Reality (VR) market is experiencing rapid growth with various types of VR headsets available, including Google Cardboard, Move Motion Controller, and standalone devices like Quest. VR technology is revolutionizing industries, from healthcare to commercial sectors, with applications in virtual training, designing, assistance, simulation events, and more. In healthcare, VR is used for planning surgeries, healthcare provisions, patient care systems, and medical training through companies like VirtaMed. The VR market also caters to live virtual entertainment, with events featuring artists like Foo Fighters and Meta virtual stages. VR headsets, also known as Head Mounted Displays (HMDs), come in various forms, from non-immersive to fully immersive, and include devices from Oculus Rift, PlayStation VR, HTC Vive, and Pico. The market also includes compact devices, high-resolution displays, and sensors, processors, and software for VR simulators and glasses. However, health concerns such as dizziness, lethargy, eyesight issues, and hearing issues are potential challenges. The VR market is not limited to large technology companies but also includes start-ups and innovations in AR devices, head-up displays, and VR projectors. The consumer market, retail sectors, military, and gaming industries are also adopting VR technology.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationCommercialIndividualTypeMid-range DeviceLow-end DeviceHigh-end DeviceGeographyNorth AmericaAPACEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Technology

Yeastar Unveils PBX-inbuilt Hotel Management Module to Transform Hotel Operations

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50 minutes ago

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January 15, 2025

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XIAMEN, China, Jan. 15, 2025 /PRNewswire/ — Yeastar, a global leader in Unified Communications (UC) solutions, has launched a groundbreaking Hotel Management module integrated into its P-Series Phone System. Tailored for small and medium-sized hotels, this new feature combines hospitality communications with lightweight property management to streamline hotel daily operations and enhance guest satisfaction.

The Hotel Management Module provides a comprehensive suite of hospitality-centric features with dedicated service panels. With it, hotel staff can efficiently manage room assignments, guest check-ins/outs, housekeeping updates, wake-up calls, room moves, service billing, and more day-to-day operations with just a few clicks in one unified interface.  Back-office features such as custom room status, class of service, guest stay history, call accounting, and branded invoice are also included to further optimize workflows.

For small-scale hotels, the PBX-inbuilt hotel management provides a cost-efficient way to simplify day-to-day hotel operations without incurring the high costs of traditional property management systems. Hotel staff can effortlessly handle guest services, room management, and hotel communications in one unified system, eliminating the complexity of juggling multiple platforms. This ease of use reduces training time and improves operational efficiency, ultimately enhancing the guest experience.

“The addition of the Hotel Management module to our P-Series Phone System underscores Yeastar’s commitment to delivering value-added hotel communications solution,” said Arya Zhou, Head of Global Sales at Yeastar. “As hotels seek to enhance their operational efficiency and guest experience, our all-in-one solution offers the tools they need to succeed in a competitive market.”

Key Advantages of Yeastar P-Series Phone System for Hospitality

Unify all future-proof UC capabilities for scalable business growth, including PBX, call center, live chat, SMS, omnichannel messaging, Linkus UC Clients, and more.PBX-inbuilt Hotel Management module for lightweight hotel managementSupport a wide range of PMS integrations including Oracle Hospitality OperaSupport auto-provisioning 400+ popular hotel phone models in the marketEffortless deployment & excellent compatibility in different hotel setups

About Yeastar

Yeastar makes digital value easily accessible from ownership and adoption to daily usage and management by transforming how businesses connect and communicate. Yeastar has established itself as a leading provider of UC solutions with a strong ecosystem, a global network of channel partners, and over 450,000 customers worldwide. For more information about Yeastar or to become a Yeastar partner, please visit https://www.yeastar.com/.

Media Contact:
Nicole Liu
+86-592-5503309
marketing@yeastar.com 

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Technology

29,999,999,950 LTSC Transferred to Bluegrace Energy Bolivia Administrative Escrow Digital Wallet on Jan 10, 2025, at 05:46:24 AM UTC

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50 minutes ago

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January 15, 2025

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WILMINGTON, Del., Jan. 15, 2025 /PRNewswire/ — The underlying contract for billions of metric tonnes of voluntary market carbon offset was executed on Jan 1, 2025, and the transaction completed on Jan 10, 2025, marks a significant step forward in establishing LTSC as the foremost stablecoin digital currency facilitating seamless exchange between carbon offset providers and sellers.

Mr. Jean Bilala, Executive Chairman of Letscoin, stated that he is ready to proceed to the final step of the conversion of LTSC vs USDT. The contractual obligation and settlement of this placement will be done in parallel with the confirmation of the global carbon credit offset buyers.

When asked about the exit buyers’ confirmation and the market demand for this carbon credit offset, Dr. Thana Balan, the co-founder of LTSC, answered that the business is comprised of users that require carbon offsets. Given the global implementation of utilizing carbon credits to offset carbon footprints, this assists global businesses in achieving net zero emissions by 2050.

This process is ongoing, and it is a mandatory requirement that every industry producing a sizeable carbon footprint balances its carbon output with offsets. Industries such as airline operators, mining, oil & gas refining, and processing companies are all fully engaged. Any business that has a carbon footprint will need carbon credit offsets to operate in the very near future.

Regulations are already in place globally, which are implemented and followed. Letscoin is not alone in becoming the digital currency facilitator for this transaction. Associate, Kyoto Transformation Xchange (KTX), is developing a carbon credit tokenization system. This will include creating the system to identify measures and justify the value of the carbon footprint of all industries, land, agro facilities, reserve Amazon mapping, and more.

During their recent R&D technology meetings in Jakarta, Indonesia, and Kuala Lumpur, Malaysia, KTX introduced rocket science and AI drone facility owners to collaborate and execute their mission of being the associated partner of LTSC.

The achievement of LTSC being the digital exchange medium connecting the trade of carbon credit offsets between providers and the end buyer is an important move to the stability and sustainability of LTSC in the digital stablecoin race globally.

LTSC has structured the “payment gateway” algorithm, generated automatically, which will become a user-friendly online application that can be adopted by any level of basic digital competency. Dr. Thana’s team has the mission to implement plans to facilitate local exchange trading for goods and services that is easily accessible by using the complementary currency programs.

With the adoption of agriculture and forestry lands in Indonesia, Africa, and South America under the agro and carbon footprint mapping, significant milestones have been achieved.

When asked about the execution schedules, Dr. Thana said the execution will be divided into various sectors:

Preservation of carbon footprintTrading of carbon offsetDigitalization of carbon footprint and data management

“Our main focus will be completing the exit sales of the current contract with Bluegrace/LTSC/USDT for the 3 billion metric tonnes of carbon credit offsets. End buyers’ confirmation has been obtained for the tabletop meeting with Bluegrace, which has been requested for Jan 20, 2025, in Europe.”

LTSC believes this meeting will be a great achievement and herald the completion of all the contract commitments signed on Jan 1, 2025, to the executors and the global carbon exchange market.

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SOURCE Letscoin (LTSC)

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Empowering Businesses of All Sizes: MyGuava Business Offers a New Standard in Financial Solutions

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January 15, 2025

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LONDON, Jan. 15, 2025 /PRNewswire/ — In today’s fast-growing world, businesses need more than traditional banking services – they require innovative financial tools tailored to their specific needs. MyGuava Business is focused on meeting these demands, offering a ground-breaking platform that caters to businesses of all sizes.

Tailored Solutions for Every Business Size

One of the defining features of MyGuava Business is its bespoke quality. The platform is designed to support businesses of every size and industry, offering flexibility that ensures no one is left behind. Start-ups and small businesses benefit from straightforward, easy-to-use tools that promote growth without unnecessary complexity.

Transparent and Competitive Pricing

At a time when hidden fees and unclear pricing structures are all too common, MyGuava Business stands apart with its transparent and competitive rates. Businesses can plan their budgets confidently, knowing there won’t be any unexpected costs. For small businesses, this affordability is an essential requirement.

Seamless Onboarding and User Experience

The platform’s user-friendly interface makes navigation intuitive, ensuring that even those without extensive technical expertise can get started quickly. Clear dashboards, always accessible customer support and step-by-step guidance make MyGuava Business a platform that any business can adopt with ease.

Comprehensive Product Offerings: Covering Every Aspect of the Financial Sector

MyGuava Business goes beyond traditional financial management by offering a diverse range of services that cover all payment needs, whether the business transacts in person or online. From business accounts simplifying cross-border payments to payment terminals, e-commerce solutions, cards, payment links and invoice creation, the platform provides businesses with versatile tools to seamlessly manage transactions.

Built In-House with Customer Needs in Mind

What truly sets MyGuava Business apart is that it is a comprehensive end-to-end payments solution provider – a direct result of its in-house development. Unlike many platforms that rely on third-party tools, every feature of MyGuava Business is purpose-built to meet the unique needs of its users.

A Vision for the Future of Business Finance

MyGuava Business is more than just a financial platform – it’s a partner in growth. By combining affordability, adaptability, and a customer-centric design, it offers businesses the tools they need to succeed in a rapidly changing world.

In a world where adaptability and efficiency are crucial, MyGuava Business is the financial partner every business deserves. Discover more at myguava.com/business.

Contact:
Nikki Suleymanova
Nigar.suleymanova@guavapay.com
07443322377

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