LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global location-based VR market since 2018 and the market is poised to grow by USD 1.48 billion during 2019-2023, progressing at a CAGR of nearly 36% during the forecast period. Request free sample pages
Read the 109-page report with TOC on “Location-Based VR Market Analysis Report by Application (VR arcades, VR cinemas, and VR theme parks), Geography (APAC, Europe, MEA, North America, and South America), and the Segment Forecasts, 2019-2023”.
The market is driven by the affordable pricing of VR devices. In addition, the growing popularity of 360-degree content is anticipated to boost the growth of the location-based VR market.
Location-based VR enables consumers to experience VR at affordable prices as they need not own the required hardware. Moreover, with increasing adoption of VR technology, the prices of VR hardware components such as VR headsets and joysticks are expected to reduce during the forecast period. Their growing demand coupled with the decreasing cost of displays is resulting in a decline in the average selling price (ASP) of VR headsets. These factors are expected to drive market growth during the forecast period.
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Major Five Location-Based VR Companies:
Exit Reality operates its business in the VR attractions segment. The company develops, deploys, and manages VR infrastructure and services for enterprise, location-based entertainment, and retail applications. Some of the products offered by the company include X Arc, X Hub, X Truck, and X Cube.
HTC Corp. operates its business in the smart mobile devices segment. In 2016, the company partnered with Syntrend to open the VIVELAND VR arcade in Taipei. The VR arcade provides various types of VR experiences such as multiplayer shooting, sports, Front Defense, car racing simulators, and 4D seated experiences.
IMAX Corp. operates its business in various segments including network business, theater business, new business, and others. The company has five VR centers in various movie theaters around the globe, each of which hosts a wide selection of games, social experiences, and short narrative pieces.
The Void LLC
The Void LLC operates its business in the hyper-reality segment. The company specializes in creating location-based VR centers that layer VR over interactive real-world environments.
VR Studios Inc.
VR Studios Inc. operates the business in segments such as premium VR systems and attraction management platform and customer VR attractions. The company offers VRcade attractions that are built specifically for location-based entertainment.
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Location-Based VR Application Outlook (Revenue, USD Billion, 2019 - 2023)
- VR arcades
- VR cinemas
- VR theme parks
Location-Based VR Regional Outlook (Revenue, USD Billion, 2019 - 2023)
- North America
- South America
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