The global 5G in VR market is expected to garner a large revenue by growing at a CAGR of ~37% throughout the forecast period, i.e., 2022 – 2030, owing to the surge in demand for high-speed internet, growing adoption of 5G network, and rising developments in virtual reality technology. Furthermore, escalating hike in data demands and high adoption of mobile edge computing are also estimated to fuel the expansion of market in the coming years.
Research Nester published a report titled “5G in VR Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of theglobal5G in VR market in terms of market segmentation by offering, end user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The market is segmented by offering and end user. On the basis of end user, the consumer segment is anticipated to grab the largest share during the forecast period accounting to the growing adoption of VR technologies in training, gaming, entertainment and education sectors. Additionally, by offering, the software segment is projected to acquire the largest share in the coming years ascribing to the fact that synchronizing and combining real world and user motions with a digital require a number of graphical rendering processes
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Regionally, the global 5G in VR market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. Asia Pacific is projected to witness the highest market growth during the forecast period, which can be attributed to the growing advancements in the IT & telecom sector, and rising penetration of internet and smart devices in the region.
The research was global in nature and conducted in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa). In addition, areas like Market size, Y-O-Y growth & Opportunity Analysis, market players competitive study, investment opportunities, demand for future outlook etc. have been covered and displayed in the research report to ensure it dives deep to achieve strategic competitive intelligence in the segment.
Rising Demand for High-Speed Internet and Superior Data Connectivity Globally to Drive Market Growth
With rapidly growing population and continuously rising volumes of data across the world, the demand for high-speed internet is also on a surge. Furthermore, the need for exceptional data connectivity and large bandwidths is also gaining traction as a result of rising consumer requirements globally, which in turn is predicted to drive market growth in the near future.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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However, high cost of deployment of 5G in VR is expected to operate as key restraint to the growth of the global 5G in VR market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global 5G in VR market which includes company profiling of Google LLC, Integrated Device Technology Inc, Intel Corporation, Leap Motion, Inc., LG Corporation, Qualcomm Inc., Microsoft Corporation, Sensics, Inc., Sixense Entertainment, Inc., Vuzix Corporation, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global 5G in VR market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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