Global Location-based Virtual Reality Market Overview:
Virtual reality is used for computer-generated 3D environments which allows the user to interact with alternate reality. Location-based VR also called site activation takes place outside the home such as in movies, malls, parks, and others. The users wear a head-mounted display and the location is designed to enhance the experience. Location-based VR provides the opportunity to interact with other individuals. Moreover, the technology adds value to advertisers with foot traffic and word of mouth from visitors.
As per latest study released by AMA Research, the Global Location-based Virtual Reality market is expected to see growth rate of 28.2%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Technological Advancements in VR Such as the Introduction of 360 Degree Content Due to the Development of 3D, 4D, and 5D Technology
Market Growth Drivers:
Increasing use of LBVR in industries for training purposes. Sectors such as healthcare, aviation, and military training rely on immersive simulations provided by LBVR to train employees effectively
Challenges:
Maintaining complex VR hardware, software, and ensuring a seamless user experience can be challenging for the Market
Restraints:
High cost of developing VR content is acting as a market restraint for location-based virtual reality (VR)
Opportunities:
Rising Disposable Income in Developing Economies Provides Opportunity to the Market
Competitive Landscape:
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are VOID (United States), EXIT Realty (United States), SpaceVR (United States), Survios (United States), Hologate (United States), Zero Latency PTY (Australia), Oculus VR (United States), HTC Vive Tech (Taiwan), Tyffon (United States) and IMAX Corp. (Canada). Additionally, following companies can also be profiled that are part of our coverage like LAI games (United States). Analyst at AMA Research see United States Players to retain maximum share of Global Location-based Virtual Reality market by 2030. Considering Market by Components, the sub-segment i.e. Hardware will boost the Location-based Virtual Reality market. Considering Market by Equipment, the sub-segment i.e. Camera Array will boost the Location-based Virtual Reality market. Considering Market by Techniques, the sub-segment i.e. Pre render will boost the Location-based Virtual Reality market.
Latest Market Insights:
On January 04, 2019 - HTC DeepQ collaborates with Taipei Municipal Wan Fang Hospital to build the first VR patient education room using VIVE Focus with the VR human patient education application.
In October 2023, Amazon introduced a new line of Echo devices with advanced location-based features.
Organizations such as the Consumer Product Safety Commission (CPSC) in the United States or similar agencies in other countries might regulate aspects related to the safety of VR equipment used in LBVR experiences.
What Can be Explored with the Location-based Virtual Reality Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Location-based Virtual Reality Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Location-based Virtual Reality
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Location-based Virtual Reality market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Location-based Virtual Reality market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Device Manufacturers, Raw material suppliers, Government associations, Research organizations, software vendors and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.