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Virtual Reality Service Global Market Report 2023 – By Testing Type (Hardware, Software), By Application (Healthcare, Education, Real Estate, Advertising, Travel, Gaming, Entertainment, Other Applications), By Basis of Service (Consulting, Training, Implementation, Integration, Operation, Maintenance) – Market Size, Trends, And Global Forecast 2023-2032

Starting Price : $4000.00 | Pages : 175 | Published : January 2023 | SKU CODE : r832 | Delivery Time: 2-3 business days | Format :


Virtual reality (VR) is an artificial environment created with software that is presented to the user in such a way that the user stops believing and accepting it as a real environment.

The main types of virtual reality services are hardware and software. The various basis of services includes consulting, training, implementation, integration, operation, and maintenance that are used for healthcare, education, real estate, advertising, travel, gaming, entertainment, and other applications. Consulting is defined as the practise of providing expertise on a subject to a third party for a fee. Advisory or implementation services are also provided as part of the service.

The virtual reality services market research report is one of a series of new reports from The Business Research Company that provides virtual reality services market statistics, including virtual reality services industry global market size, regional shares, competitors with a virtual reality services market share, detailed virtual reality services market segments, market trends and opportunities, and any further data you may need to thrive in the virtual reality services industry. This virtual reality services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The global virtual reality services market size will grow from $9.32 billion in 2022 to $10.88 billion in 2023 at a compound annual growth rate (CAGR) of 16.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global virtual reality services market size is expected to grow to $18.75 billion in 2027 at a CAGR of 14.6%.

The virtual reality services in telehealth is a key factor driving the growth of the virtual reality services market. To support COVID-19 patients, thousands of doctors and nurses will require advanced skills, which will be supported by VR-powered tools to cope in a simulated world with an anticipated influx of COVID-19 patients. Training services by virtual reality designed particularly for coronavirus pathology scenarios are highly beneficial and realistic in today's situation and also enable medical students, doctors, and nurses to quickly apply studied principles and procedures to the real world. For instance, the XRHealth application allows the hospitals to treat incoming coronavirus victims who are in hospital quarantine and it allows the physicians to monitor them when they return home. Therefore, the increasing necessity of virtual reality services in telehealth is expected to drive the significant growth of the virtual reality services market.

The high cost associated with virtual reality services hampers the growth of the virtual reality services market. The best VR experience will cost a lot of money. The investment required for the VR experience is high. For instance, one needs to spend at least a few hundred dollars (on the low end) only for the graphics card itself, excluding other internals of the computer. The high-end virtual reality computer would cost $1,000 easily, and the high-end VR headset such as Vive or Oculus Rift from HTC would cost $599 and $799, respectively. Therefore, the high cost for a VR experience is expected to hinder the growth of the virtual reality services market.

Remote shopping with virtual reality is a key trend in the virtual reality services market. Many people are not doing offline shopping due to isolation and quarantine with the global COVID-19 outbreak and that does not mean e-commerce companies must also stop communicating with their customers and clients. Virtual reality alternatives opened great chances where businesses can offer potential customers new buying experiences without preventing their outreach. E-commerce companies could now reframe the experience for the customers and redesign their shopping journeys by using VR services. For instance, USA-based brand GAP developed a virtual Dressing Room app that allows the user to digitally try out clothes before making a purchasing decision. It will help customers to choose the right outfit and also contributes to the reduction of product returns and the reduction of expensive financial burdens for retailers.

Major players in the virtual reality services market are Skywell Software, LittlStar, Creative Solutions, Gramercy Tech, HQSoftware, Program Ace, Groove Jones, Xicom Technologies, Zco Corporation, The Intellify, Quy Technology, Fluper, JPLoft Solution, Credencys Solutions, HorizonCore Infosoft, Quytech, Hedgehog Lab, IndiaNIC Infotech Limited, Chetu, Vakoms, Delta Reality, Dyfuzja, Cortex, Chocolate Milk & Donuts, NARSUN, and Setapp.

Asia-Pacific was the largest region in the virtual reality services market in 2022. North America was the second largest region in the global virtual reality services market. The regions covered in the global virtual reality services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the virtual reality services market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The virtual reality services market includes revenues earned by entities by providing virtual reality services that are used in different sectors such as aerospace, defense, gaming, entertainment, tourism, diagnostics and surgeries. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The global virtual reality services market is segmented -

1) By Type: Hardware, Software

2) By Basis of Service: Consulting, Training, Implementation, Integration, Operation, Maintenance

3) By Application: Healthcare, Education, Real Estate, Advertising, Travel, Gaming, Entertainment, Other Applications

    Table Of Contents

    1. Executive Summary

    2. Virtual Reality Services Market Characteristics

    3. Virtual Reality Services Market Trends And Strategies

    4. Virtual Reality Services Market – Macro Economic Scenario

    4.1 COVI4. Virtual Reality Services Market – Macro Economic Scenario

    4.1 COVID-19 Impact On Virtual Reality Services Market

    4.2 Ukraine-Russia War Impact On Virtual Reality Services Market

    4.3 Impact Of High Inflation On Virtual Reality Services Market

    5. Virtual Reality Services Market Size And Growth

    5.1. Global Virtual Reality Services Historic Market, 2017-2022, $ Billion

    5.1.1. Drivers Of The Market

    5.1.2. Restraints On The Market

    5.2. Global Virtual Reality Services Forecast Market, 2022-2027F, 2032F, $ Billion

    5.2.1. Drivers Of The Market

    5.2.2. Restraints On the Market

    6. Virtual Reality Services Market Segmentation

    6.1. Global Virtual Reality Services Market, Segmentation Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    Hardware

    Software

    6.2. Global Virtual Reality Services Market, Segmentation By Basis of Service, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    Consulting

    Training

    Implementation

    Integration

    Operation

    Maintenance

    6.3. Global Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    Healthcare

    Education

    Real Estate

    Advertising

    Travel

    Gaming

    Entertainment

    Other Applications

    7. Virtual Reality Services Market Regional And Country Analysis

    7.1. Global Virtual Reality Services Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    7.2. Global Virtual Reality Services Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    8. Asia-Pacific Virtual Reality Services Market

    8.1. Asia-Pacific Virtual Reality Services Market Overview

    Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

    8.2. Asia-Pacific Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    9. China Virtual Reality Services Market

    9.1. China Virtual Reality Services Market Overview

    9.2. China Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion

    10. India Virtual Reality Services Market

    10.1. India Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    11. Japan Virtual Reality Services Market

    11.1. Japan Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    12. Australia Virtual Reality Services Market

    12.1. Australia Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    13. Indonesia Virtual Reality Services Market

    13.1. Indonesia Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    14. South Korea Virtual Reality Services Market

    14.1. South Korea Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    15. Western Europe Virtual Reality Services Market

    15.1. Western Europe Virtual Reality Services Market Overview

    15.2. Western Europe Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    16. UK Virtual Reality Services Market

    16.1. UK Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    17. Germany Virtual Reality Services Market

    17.1. Germany Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    18. France Virtual Reality Services Market

    18.3. France Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    19. Eastern Europe Virtual Reality Services Market

    19.1. Eastern Europe Virtual Reality Services Market Overview

    19.2. Eastern Europe Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    20. Russia Virtual Reality Services Market

    20.1. Russia Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    21. North America Virtual Reality Services Market

    21.1. North America Virtual Reality Services Market Overview

    21.2. North America Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    22. USA Virtual Reality Services Market

    22.1. USA Virtual Reality Services Market Overview

    22.2. USA Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    23. South America Virtual Reality Services Market

    23.1. South America Virtual Reality Services Market Overview

    23.2. South America Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    24. Brazil Virtual Reality Services Market

    24.1. Brazil Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    25. Middle East Virtual Reality Services Market

    25.1. Middle East Virtual Reality Services Market Overview

    25.2. Middle East Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    26. Africa Virtual Reality Services Market

    26.1. Africa Virtual Reality Services Market Overview

    26.2. Africa Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    27. Virtual Reality Services Market Competitive Landscape And Company Profiles

    27.1. Virtual Reality Services Market Competitive Landscape

    27.2. Virtual Reality Services Market Company Profiles

    27.2.1. VR Vision

    27.2.1.1. Overview

    27.2.1.2. Products and Services

    27.2.1.3. Strategy

    27.2.1.4. Financial Performance

    27.2.2. Skywell Software

    27.2.2.1. Overview

    27.2.2.2. Products and Services

    27.2.2.3. Strategy

    27.2.2.4. Financial Performance

    27.2.3. LittlStar

    27.2.3.1. Overview

    27.2.3.2. Products and Services

    27.2.3.3. Strategy

    27.2.3.4. Financial Performance

    27.2.4. Creative Solutions

    27.2.4.1. Overview

    27.2.4.2. Products and Services

    27.2.4.3. Strategy

    27.2.4.4. Financial Performance

    27.2.5. Gramercy Tech

    27.2.5.1. Overview

    27.2.5.2. Products and Services

    27.2.5.3. Strategy

    27.2.5.4. Financial Performance

    28. Key Mergers And Acquisitions In The Virtual Reality Services Market

    29. Virtual Reality Services Market Future Outlook and Potential Analysis

    30. Appendix

    30.1. Abbreviations

    30.2. Currencies

    30.3. Historic And Forecast Inflation Rates

    30.4. Research Inquiries

    30.5. The Business Research Company

    30.6. Copyright And Disclaimer

List Of Tables

    Table 1: Global Historic Market Growth, 2017-2022, $ Billion
  • Table 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
  • Table 3: Global Virtual Reality Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 4: Global Virtual Reality Services Market, Segmentation By Basis of Service, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 5: Global Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 6: Global Virtual Reality Services Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 7: Global Virtual Reality Services Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 8: Asia-Pacific, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 9: China, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 10: India, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 11: Japan, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 12: Australia, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 13: Indonesia, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 14: South Korea, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 15: Western Europe, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 16: UK, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 17: Germany, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 18: France, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 19: Eastern Europe, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 20: Russia, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 21: North America, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 22: USA, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 23: South America, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 24: Brazil, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 25: Middle East, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 26: Africa, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 27: VR Vision Financial Performance
  • Table 28: Skywell Software Financial Performance
  • Table 29: LittlStar Financial Performance
  • Table 30: Creative Solutions Financial Performance
  • Table 31: Gramercy Tech Financial Performance

List Of Figures

    Figure 1: Global Historic Market Growth, 2017-2022, $ Billion
  • Figure 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
  • Figure 3: Global Virtual Reality Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 4: Global Virtual Reality Services Market, Segmentation By Basis of Service, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 5: Global Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 6: Global Virtual Reality Services Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 7: Global Virtual Reality Services Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 8: Asia-Pacific, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 9: China, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 10: India, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 11: Japan, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 12: Australia, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 13: Indonesia, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 14: South Korea, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 15: Western Europe, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 16: UK, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 17: Germany, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 18: France, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 19: Eastern Europe, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 20: Russia, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 21: North America, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 22: USA, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 23: South America, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 24: Brazil, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 25: Middle East, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 26: Africa, Virtual Reality Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 27: VR Vision Financial Performance
  • Figure 28: Skywell Software Financial Performance
  • Figure 29: LittlStar Financial Performance
  • Figure 30: Creative Solutions Financial Performance
  • Figure 31: Gramercy Tech Financial Performance
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