Asia Pacific Virtual Reality (VR) Market 2022-2032 by Offering (Hardware, Software, Services), Technology (Nonimmersive, Semi-Immersive, Fully Immersive), Device (HMD, Gesture-Tracking, Projector & Display), Platform (Mobile, Console, PC), Industry Vertical, End User (Consumer, Enterprise), and Country: Trend Forecast and Growth Opportunity
Asia Pacific virtual reality (VR) market will grow by 28.7% annually with a total addressable market cap of $593.3 billion over 2023-2032, driven by the growing R&D investment, fast evolving technologies, the rising smartphone customer base, and the increasing applications of virtual reality across various industries.
Highlighted with 34 tables and 64 figures, this 130-page report “Asia Pacific Virtual Reality (VR) Market 2022-2032 by Offering (Hardware, Software, Services), Technology (Nonimmersive, Semi-Immersive, Fully Immersive), Device (HMD, Gesture-Tracking, Projector & Display), Platform (Mobile, Console, PC), Industry Vertical, End User (Consumer, Enterprise), and Country: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire Asia Pacific virtual reality (VR) market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2020-2022 and provides forecast from 2023 till 2032 with 2022 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year, and the forecast covers at least 5 years over the base year.)
In-depth qualitative analyses include identification and investigation of the following aspects:
• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Fiver Forces
The trend and outlook of Asia Pacific market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19 and Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify Asia Pacific virtual reality (VR) market in every aspect of the classification from perspectives of Offering, Technology, Device, Platform, Industry Vertical, End User, and Country.
Based on Offering, the Asia Pacific market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
• Hardware
o Sensors
o Semiconductor Component
o Displays and Projectors
o Position Trackers
o Cameras
o Other Hardware
• Software
o Software Developer Kits
o Cloud-based Solutions
• Services
Based on Technology, the Asia Pacific market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
• Nonimmersive Technology
• Semi-Immersive Technology
• Fully Immersive Technology
By Device, the Asia Pacific market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
• Head-Mounted Display (HMD)
• Gesture-Tracking Device
• Projector & Display Wall
By Platform, the Asia Pacific market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
• Mobile VR
• Console VR
• PC VR
By Industry Vertical, the Asia Pacific market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
• Gaming
• Entertainment & Media
• Aerospace & Defense
• Healthcare
• Education
• Automotive
• Retail & Marketing
• Other Verticals
By End User, the Asia Pacific market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
• Consumer
• Enterprise
o Large Enterprises
o Small- & Medium-sized Enterprises (SMEs)
Geographically, the following national/local markets are fully investigated:
• Japan
• China
• South Korea
• Australia
• India
• Rest of APAC (further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)
For each key country, detailed analysis and data for annual revenue ($ mn) are available for 2022-2032. The breakdown of national markets by Technology, Device, and Industry Vertical over the forecast years are also included.
The report also covers the current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
Selected Key Players:
Apple Inc.
Atheer, Inc.
Cyberglove Systems Inc.
EON Reality, Inc.
Facebook Inc.
Google Inc.
Hewlett-Packard Development Company. L.P
Leap Motion, Inc.
Meta Inc.
Microsoft Corporation
Nintendo Co., Ltd.
Oculus VR, LLC
Qualcomm Technologies, Inc.
Samsung Electronics Co., Ltd.
Sixense Entertainment, Inc.
Sony Corporation
Total Immersion, Inc.
Virtuix
Zappar Ltd.
(Please note: The report will be updated before delivery so that the latest historical year is the base year, and the forecast covers at least 5 years over the base year.)
1 Introduction 7
1.1 Industry Definition and Research Scope 7
1.1.1 Industry Definition 7
1.1.2 Research Scope 8
1.2 Research Methodology 11
1.2.1 Overview of Market Research Methodology 11
1.2.2 Market Assumption 12
1.2.3 Secondary Data 12
1.2.4 Primary Data 12
1.2.5 Data Filtration and Model Design 13
1.2.6 Market Size/Share Estimation 14
1.2.7 Research Limitations 15
1.3 Executive Summary 16
2 Market Overview and Dynamics 19
2.1 Market Size and Forecast 19
2.1.1 Impact of COVID-19 on World Economy 20
2.1.2 Impact of COVID-19 on the Market 23
2.1.3 Impact of Russia-Ukraine Conflict: War Slows Economic Recovery 25
2.2 Major Growth Drivers 29
2.3 Market Restraints and Challenges 33
2.4 Emerging Opportunities and Market Trends 36
2.5 Porter’s Fiver Forces Analysis 40
3 Segmentation of Asia Pacific Market by Offering 44
3.1 Market Overview by Offering 44
3.2 Hardware 46
3.2.1 Sensors 48
3.2.2 Semiconductor Component 49
3.2.3 Displays and Projectors 50
3.2.4 Position Trackers 51
3.2.5 Cameras 52
3.2.6 Other Hardware 53
3.3 Software 54
3.3.1 Software Developer Kits 55
3.3.2 Cloud-based Solutions 56
3.4 Services 57
4 Segmentation of Asia Pacific Market by Technology 58
4.1 Market Overview by Technology 58
4.2 Nonimmersive Technology 60
4.3 Semi-Immersive Technology 61
4.4 Fully Immersive Technology 62
5 Segmentation of Asia Pacific Market by Device 63
5.1 Market Overview by Device 63
5.2 Head-Mounted Display (HMD) 65
5.3 Gesture-Tracking Device 66
5.4 Projector & Display Wall 67
6 Segmentation of Asia Pacific Market by Platform 68
6.1 Market Overview by Platform 68
6.2 Mobile VR 70
6.3 Console VR 71
6.4 PC VR 72
7 Segmentation of Asia Pacific Market by Industry Vertical 73
7.1 Market Overview by Industry Vertical 73
7.2 Gaming 75
7.3 Entertainment & Media 76
7.4 Aerospace & Defense 77
7.5 Healthcare 78
7.6 Education 79
7.7 Automotive 80
7.8 Retail & Marketing 81
7.9 Other Verticals 82
8 Segmentation of Asia Pacific Market by End User 83
8.1 Market Overview by End User 83
8.2 Consumer 85
8.3 Enterprise 86
8.3.1 Large Enterprises 87
8.3.2 Small- & Medium-sized Enterprises (SMEs) 88
9 Asia-Pacific Market 2022-2032 by Country 89
9.1 Overview of Asia-Pacific Market 89
9.2 Japan 92
9.3 China 95
9.4 Australia 98
9.5 India 100
9.6 South Korea 102
9.7 Rest of APAC Region 104
10 Competitive Landscape 106
10.1 Overview of Key Vendors 106
10.2 New Product Launch, Partnership, Investment, and M&A 109
10.3 Company Profiles 110
Apple Inc. 110
Atheer, Inc. 112
Cyberglove Systems Inc. 113
EON Reality, Inc. 114
Facebook Inc. 115
Google Inc. 116
Hewlett-Packard Development Company. L.P 117
Leap Motion, Inc. 118
Meta Inc. 119
Microsoft Corporation 120
Nintendo Co., Ltd. 121
Oculus VR, LLC 122
Qualcomm Technologies, Inc. 123
Samsung Electronics Co., Ltd. 124
Sixense Entertainment, Inc. 125
Sony Corporation 126
Total Immersion, Inc. 127
Virtuix 128
Zappar Ltd. 129
RELATED REPORTS 130
List of Tables:
Table 1. Snapshot of Asia Pacific Virtual Reality Market in Balanced Perspective, 2022-2032 17
Table 2. World Economic Outlook, 2021-2031 21
Table 3. World Economic Outlook, 2021-2023 22
Table 4. Scenarios for Economic Impact of Ukraine Crisis 26
Table 5. Main Product Trends and Market Opportunities in Asia Pacific Virtual Reality Market 36
Table 6. Asia Pacific Virtual Reality Market by Offering, 2022-2032, $ mn 44
Table 7. Asia Pacific Virtual Reality Market: Hardware by Type, 2022-2032, $ mn 47
Table 8. Asia Pacific Virtual Reality Market: Software by Type, 2022-2032, $ mn 54
Table 9. Asia Pacific Virtual Reality Market by Technology, 2022-2032, $ mn 58
Table 10. Asia Pacific Virtual Reality Market by Device, 2022-2032, $ mn 63
Table 11. Asia Pacific Virtual Reality Market by Platform, 2022-2032, $ mn 68
Table 12. Asia Pacific Virtual Reality Market by Industry Vertical, 2022-2032, $ mn 73
Table 13. Asia Pacific Virtual Reality Market by End User, 2022-2032, $ mn 83
Table 14. Asia Pacific Virtual Reality Market: Enterprise by Type, 2022-2032, $ mn 86
Table 15. APAC Virtual Reality Market by Country, 2022-2032, $ mn 90
Table 16. Japan Virtual Reality Market by Technology, 2022-2032, $ mn 94
Table 17. Japan Virtual Reality Market by Device, 2022-2032, $ mn 94
Table 18. Japan Virtual Reality Market by Industry Vertical, 2022-2032, $ mn 94
Table 19. China Virtual Reality Market by Technology, 2022-2032, $ mn 96
Table 20. China Virtual Reality Market by Device, 2022-2032, $ mn 96
Table 21. China Virtual Reality Market by Industry Vertical, 2022-2032, $ mn 96
Table 22. Australia Virtual Reality Market by Technology, 2022-2032, $ mn 99
Table 23. Australia Virtual Reality Market by Device, 2022-2032, $ mn 99
Table 24. Australia Virtual Reality Market by Industry Vertical, 2022-2032, $ mn 99
Table 25. India Virtual Reality Market by Technology, 2022-2032, $ mn 101
Table 26. India Virtual Reality Market by Device, 2022-2032, $ mn 101
Table 27. India Virtual Reality Market by Industry Vertical, 2022-2032, $ mn 101
Table 28. South Korea Virtual Reality Market by Technology, 2022-2032, $ mn 103
Table 29. South Korea Virtual Reality Market by Device, 2022-2032, $ mn 103
Table 30. South Korea Virtual Reality Market by Industry Vertical, 2022-2032, $ mn 103
Table 31. Virtual Reality Market in Rest of APAC by Country/Region, 2022-2032, $ mn 105
Table 32. Apple Inc.: Company Snapshot 110
Table 33. Apple Inc.: Business Segmentation 111
Table 34. Apple Inc.: Product Portfolio 111
List of Figures:
Figure 1. Research Method Flow Chart 11
Figure 2. Bottom-up Approach and Top-down Approach for Market Estimation 14
Figure 3. Asia Pacific Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2022-2032 16
Figure 4. Asia Pacific Virtual Reality Market, 2022-2032, $ mn 19
Figure 5. Impact of COVID-19 on Business 23
Figure 6. Primary Drivers and Impact Factors of Asia Pacific Virtual Reality Market 29
Figure 7. Forecast of Middle-class Population by Region, 2015-2030, million 32
Figure 8. World Digital Gaming Market, 2022-2032, $ bn 32
Figure 9. Primary Restraints and Impact Factors of Asia Pacific Virtual Reality Market 33
Figure 10. Investment Opportunity Analysis 37
Figure 11. Porter’s Fiver Forces Analysis of Asia Pacific Virtual Reality Market 40
Figure 12. Breakdown of Asia Pacific Virtual Reality Market by Offering, 2022-2032, % of Revenue 45
Figure 13. Asia Pacific Addressable Market Cap in 2023-2032 by Offering, Value ($ mn) and Share (%) 45
Figure 14. Asia Pacific Virtual Reality Market by Offering: Hardware, 2022-2032, $ mn 46
Figure 15. Asia Pacific Virtual Reality Market by Hardware: Sensors, 2022-2032, $ mn 48
Figure 16. Asia Pacific Virtual Reality Market by Hardware: Semiconductor Component, 2022-2032, $ mn 49
Figure 17. Asia Pacific Virtual Reality Market by Hardware: Displays and Projectors, 2022-2032, $ mn 50
Figure 18. Asia Pacific Virtual Reality Market by Hardware: Position Trackers, 2022-2032, $ mn 51
Figure 19. Asia Pacific Virtual Reality Market by Hardware: Cameras, 2022-2032, $ mn 52
Figure 20. Asia Pacific Virtual Reality Market by Hardware: Other Hardware, 2022-2032, $ mn 53
Figure 21. Asia Pacific Virtual Reality Market by Offering: Software, 2022-2032, $ mn 54
Figure 22. Asia Pacific Virtual Reality Market by Software: Software Developer Kits, 2022-2032, $ mn 55
Figure 23. Asia Pacific Virtual Reality Market by Software: Cloud-based Solutions, 2022-2032, $ mn 56
Figure 24. Asia Pacific Virtual Reality Market by Offering: Services, 2022-2032, $ mn 57
Figure 25. Breakdown of Asia Pacific Virtual Reality Market by Technology, 2022-2032, % of Sales Revenue 59
Figure 26. Asia Pacific Addressable Market Cap in 2023-2032 by Technology, Value ($ mn) and Share (%) 59
Figure 27. Asia Pacific Virtual Reality Market by Technology: Nonimmersive Technology, 2022-2032, $ mn 60
Figure 28. Asia Pacific Virtual Reality Market by Technology: Semi-Immersive Technology, 2022-2032, $ mn 61
Figure 29. Asia Pacific Virtual Reality Market by Technology: Fully Immersive Technology, 2022-2032, $ mn 62
Figure 30. Breakdown of Asia Pacific Virtual Reality Market by Device, 2022-2032, % of Sales Revenue 64
Figure 31. Asia Pacific Addressable Market Cap in 2023-2032 by Device, Value ($ mn) and Share (%) 64
Figure 32. Asia Pacific Virtual Reality Market by Device: Head-Mounted Display (HMD), 2022-2032, $ mn 65
Figure 33. Asia Pacific Virtual Reality Market by Device: Gesture-Tracking Device, 2022-2032, $ mn 66
Figure 34. Asia Pacific Virtual Reality Market by Device: Projector & Display Wall, 2022-2032, $ mn 67
Figure 35. Breakdown of Asia Pacific Virtual Reality Market by Platform, 2022-2032, % of Revenue 69
Figure 36. Asia Pacific Addressable Market Cap in 2023-2032 by Platform, Value ($ mn) and Share (%) 69
Figure 37. Asia Pacific Virtual Reality Market by Platform: Mobile VR, 2022-2032, $ mn 70
Figure 38. Asia Pacific Virtual Reality Market by Platform: Console VR, 2022-2032, $ mn 71
Figure 39. Asia Pacific Virtual Reality Market by Platform: PC VR, 2022-2032, $ mn 72
Figure 40. Breakdown of Asia Pacific Virtual Reality Market by Industry Vertical, 2022-2032, % of Revenue 74
Figure 41. Asia Pacific Addressable Market Cap in 2023-2032 by Industry Vertical, Value ($ mn) and Share (%) 74
Figure 42. Asia Pacific Virtual Reality Market by Industry Vertical: Gaming, 2022-2032, $ mn 75
Figure 43. Asia Pacific Virtual Reality Market by Industry Vertical: Entertainment & Media, 2022-2032, $ mn 76
Figure 44. Asia Pacific Virtual Reality Market by Industry Vertical: Aerospace & Defense, 2022-2032, $ mn 77
Figure 45. Asia Pacific Virtual Reality Market by Industry Vertical: Healthcare, 2022-2032, $ mn 78
Figure 46. Asia Pacific Virtual Reality Market by Industry Vertical: Education, 2022-2032, $ mn 79
Figure 47. Asia Pacific Virtual Reality Market by Industry Vertical: Automotive, 2022-2032, $ mn 80
Figure 48. Asia Pacific Virtual Reality Market by Industry Vertical: Retail & Marketing, 2022-2032, $ mn 81
Figure 49. Asia Pacific Virtual Reality Market by Industry Vertical: Other Verticals, 2022-2032, $ mn 82
Figure 50. Breakdown of Asia Pacific Virtual Reality Market by End User, 2022-2032, % of Revenue 83
Figure 51. Asia Pacific Addressable Market Cap in 2023-2032 by End User, Value ($ mn) and Share (%) 84
Figure 52. Asia Pacific Virtual Reality Market by End User: Consumer, 2022-2032, $ mn 85
Figure 53. Asia Pacific Virtual Reality Market by End User: Enterprise, 2022-2032, $ mn 86
Figure 54. Asia Pacific Virtual Reality Market by Enterprise: Large Enterprises, 2022-2032, $ mn 87
Figure 55. Asia Pacific Virtual Reality Market by Enterprise: Small- & Medium-sized Enterprises (SMEs), 2022-2032, $ mn 88
Figure 56. Breakdown of APAC Virtual Reality Market by Country, 2022 and 2032, % of Revenue 90
Figure 57. Contribution to APAC 2023-2032 Cumulative Market by Country, Value ($ mn) and Share (%) 91
Figure 58. Virtual Reality Market in Japan, 2022-2032, $ mn 93
Figure 59. Virtual Reality Market in China, 2022-2032, $ mn 95
Figure 60. Virtual Reality Market in Australia, 2022-2032, $ mn 98
Figure 61. Virtual Reality Market in India, 2022-2032, $ mn 100
Figure 62. Virtual Reality Market in South Korea, 2022-2032, $ mn 102
Figure 63. Virtual Reality Market in Rest of APAC, 2022-2032, $ mn 104
Figure 64. Growth Stage of Asia Pacific Virtual Reality Industry over the Forecast Period 106
Methodology/Research Approach
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.Research Programs/Design
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Market Size Estimation
Top-down and bottom-up approaches are used to validate the global Voluntary Carbon Offset market size market and estimate the market size for Company, regions segments, product segments and Application (end users).
The market estimations in this report are based on the marketed sale price of Voluntary Carbon Offset (excluding any discounts provided by the player, distributor, wholesaler or traders). The percentage splits, market share, and breakdowns of the product segments are derived on the basis of weights assigned to each of the segments on the basis of their utilization rate and average sale price. The regional splits of the overall Voluntary Carbon Offset market and its sub-segments are based on the percentage adoption or utilization of the given product in the respective region or country.
Major Company in the market is identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top Company; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and marketing executives. The percentage splits, market share, Growth Rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or other factors are not accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Market Intellix and presented in this report
The following figure shows an illustrative representation of the overall market size estimation process used for this study.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.
Data Source
Secondary Sources
Secondary sources include such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, etc. This research study involves the usage of widespread secondary sources, directories, databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), and TRADING ECONOMICS, and News Network, statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS; company house documents; CAS(American Chemical Society); investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and Hospitals study of the Voluntary Carbon Offset market. It was also used to obtain important information about the top companies, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives.
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Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product Company (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end use (product buyers), and related key executives from various key companies and organizations operating in the global market.
Primary research was conducted to identify segmentation Type, product price range, product Application, key Company, raw materials supply and the downstream demand, industry status and outlook, and key market dynamics such as risks, influence factors, opportunities, market barriers, industry trends, and key player strategies.
Key Executives Interviewed
Key Data Information from Primary Sources
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