Virtual reality

Virtual Reality (VR) Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026) – Yahoo Finance

Summary

The number of global virtual reality device shipments was 13. 48 million units in 2020, and it is expected to reach a volume of 112. 62 million units by 2026, registering a CAGR of 33. 85% over the forecast period (2021–2026).

New York, Nov. 18, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Virtual Reality (VR) Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” – https://www.reportlinker.com/p06184936/?utm_source=GNW The COVID-19 cr…….

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The number of global virtual reality device shipments was 13. 48 million units in 2020, and it is expected to reach a volume of 112. 62 million units by 2026, registering a CAGR of 33. 85% over the forecast period (2021–2026).

New York, Nov. 18, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Virtual Reality (VR) Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” – https://www.reportlinker.com/p06184936/?utm_source=GNW
The COVID-19 crisis impacted several VR tech companies. VR gaming centers were closed due to stay-at-home orders during the initial months of the pandemic. For instance, Sandbox was operating 10 VR centers in North America and Asia, which allowed groups of customers to step into virtual worlds. Apart from Sandbox, several operators of VR centers and arcades, including The Void, Zero Latency, Dreamscape, and Spaces, were forced to shut down their retail locations amid the pandemic and are facing major financial and logistical challenges post the brunt of the pandemic.

On the contrary, the consumer VR Virtual Reality Market witnessed a significant increase in adoption. Most people are investing in VR gaming as they aim to explore new frontiers in gaming technology during the lockdown. Many VR gaming providers, such as HTC Viveport, offer many features to make people stay at home and play instead of going out. For instance, Viveport Infinity’s annual subscription is at a 75% discount, decreasing from USD 107.88 per year to USD 27.

Key Highlights
Virtual Reality is the usage of computer technology, primarily to create a simulated environment. Unlike the traditional user interface, VR places the user inside an experience, which means instead of viewing a monitor screen in front of them, users are immersed and are able to interact with the 3D world. With the simulation of as many senses as possible, such as vision, touch, hearing, even smell, technology has transformed across the world.
Moreover, across various educational fields, teachers have been increasingly turning to virtual reality technology to help provide a better standard of education. For example, on a basic level, the introduction of VR in the education sector enabled the students to be immersed in a VR tech world. The technology also gives students a more visual and absorbing lesson, which can be provided at lower costs.
Virtual reality technology carved its space within the gaming industry in the past few years. VR has given shape to a new generation of gaming that is giving the players immersive, first-person perspective experiences. In the past few years, developers, such as Oculus and HTC, worked toward making virtual reality more accessible and more affordable. Previously, Oculus launched its Oculus Quest, which is a standalone wireless virtual reality headset.
Moreover, the growing pervasiveness of AI technology across VR applications is also enhancing the intelligence of virtual characters, thereby delivering a rich, immersive environment. Google’s machine learning tools add 6DoF controller-tracking capabilities to any standalone headset, while Facebook’s DeepFocus framework makes use of AI to create focus effects in VR, …….

Source: https://finance.yahoo.com/news/virtual-reality-vr-market-growth-121600692.html