How Mobile Application Development Will Drive the VR Market?

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Until recently, Virtual Reality was considered as a concept of Sci-Fi and largely associated with Virtual Reality Game development.

Futuristic apps developed by many Virtual Reality App Development Company are taking up the world of Mobile Apps by storm and are revolutionising the way customers experience products and services.The Virtual Reality advantageJust having Mobile Apps for your business, is not adequate to catch the attention of customers who are now becoming increasingly tech savvy.

Get the advantage of Virtual Reality to capture their interest and to convert them into loyal customers by giving them a futuristic experience.Continue Reading

Virtual Reality (VR) MarketThe global virtual reality software market is anticipated to garner a CAGR of 11% during the forecast period (2017-2023).

Virtual reality can be referred to as an artificial environment, created with software and presented to the users in such a way so that they accept it as a real environment.Market Potential and PitfallsThe virtual reality software market has witnessed a tectonic surge over the past few years, mainly due to technological advancements and rapid digitization.

The surging demand for head mount displays in entertainment and gaming industries has elevated the scope for virtual reality software market across the globe.

The accelerating demand for VR from sectors like sport, entertainment, architecture, and medicine is creating growth opportunities for the market across the globe.Virtual reality and augmented reality holds high importance in the entertainment and media industry.

This has triggered the demand from the virtual reality software market.On the contrary, with advancing technologies and surging demand for VR and AR from the film sector, the media & entertainment is facing shortage of skilled technicians.

Moreover, high capital investment for developing AR and VR devices are some of the major concerns vitiating its growth across the globe.Industry SegmentsThe virtual reality market is divided by deployment into on-premise, cloud.

Both VR and AR have the ability to change healthcare sector for the better in the succeeding years. While VR technology is helpful not only for the doctors but for patients as well, it provides huge convenience to the patients by facilitating them to see doctors virtually. However, the AR technology is created as a visual world but does not aid in any communication with this world. 

The worldwide market for healthcare AR VR is projected to capture a market estimation of more than US$ 600 Million by the end of the year 2018 that might touch a market estimate of more than US$ 15,100 Million towards the end of the year 2026. The global market is projected to expand at a remarkably high 49.3% CAGR all through the assessment period of 2026.

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The worldwide market based on the technology type is segmented into (VR) virtual reality and (AR) augmented reality. The VT is in advance of AR owing to the superior offerings of VR technology. The VR technology is widely utilized by the healthcare industry, thus directing towards a remarkable expansion of the VR segment that is projected to account for a market estimation of more than US$ 9,920 Million towards the end of the year 2026. However, the AR technology is likely to touch an estimate of about 2,000 Million towards the end of 2026. On the basis of growth rate as well, VR is like to see a higher CAGR of more than 51% over the calculated period 2018-2026.

On the basis of the component, the market is bifurcated into services, software and hardware. With the abilities of transformation in healthcare sector, the AR VR is majorly applicable into medical training, patient care management, rehabilitation, surgery planning and others. On the other hand, in terms of the end user the overall market includes diagnostic centers, medical research organizations, hospitals & clinics and others. Both the technologies are largely in demand in hospitals and clinics for research processes, medical trainings along with diagnostic centers. 

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In terms of the region, the emerging regions, for example, MEA, APAC and Africa will be witnessing increased revenue contribution to the GDP. However, North America will be capturing maximum revenue share of above US$ 5,000 Million by 2026 end in the global market. Moreover, SEA along with other APAC regions is as well likely to remain largely lucrative regions for market players seeking for developing opportunities in the market.

The major market players operating in the global market include Samsung Electronics Co. Ltd, Microsoft Corporation, DAQRI LLC, Google Inc., Magic Leap, Inc., Medical Realities Ltd, Oculus VR, LLC, FIRSTHAND TECHNOLOGY INC., ImmersiveTouch, Inc., SURGICAL THEATER, LLC., HTC Corporation, EchoPixel, Inc., Psious, AppliedVR, Inc., Osso VR and others.

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Education is a never-ending and crucial industry that is gaining importance over a few years.

Right from the emergence of civilizations, grabbing knowledge has been the top priority by people all over the globe.

They are always looking for an effective strategy to transfer or gain knowledge from one another easily.

Thanks to the current market which has made this possible.

Virtual Reality is here to disrupt the educational sector.

In this blog, we have discussed the role of VR in enhancing the Educational industry.Learn more at Virtual Reality in Education.#FutureOfVirtualReality #VirtualReality #VirtualRealityInEducation #VRInEducationSector

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