This could be good news for the Vision Pro: the global virtual reality (VR) market size is estimated to grow by US$133.17 billion from 2025-2029, according to Technavio.
The research group says the market is estimated to grow at a compound annual growth rate (CAGR) of 38% during the forecast period. Recent developments in virtual reality technologies is driving market growth, with a trend towards integration of AI and ML with virtual reality technology, according to Technavio. Here are the market challenges, per the report:
° The Virtual Reality (VR) market is experiencing significant growth in various sectors, including architecture and planning, where VR technology is used for designing and visualizing projects. However, the market faces challenges in the segment due to the high cost of VR hardware like headsets, glasses, gloves, and bodysuits.
° In the commercial segment, software development is a key challenge, as creating engaging and realistic VR experiences requires advanced programming skills. The hardware segment, including VR headsets and glasses, is a major investment for organizations. In the healthcare sector, VR technology is used for instructional training, mental health issues treatment, and simulation training for pilots, defense personnel, and technicians. Policies and strategies for implementing VR technology in organizations are also crucial.
° The VR market is not limited to gaming and entertainment but also includes virtual platforms for meetings, events, and virtual theme parks. The coronavirus outbreak and pandemic crisis have accelerated the adoption of live virtual entertainment, VR simulators, and virtual tours. The future of VR includes AI applications, the Metaverse, and collaboration tools. Companies like PlayStation and Xbox are leading the way in VR hardware, while AR and VR content creation, virtual classrooms, VR arcades, VR fitness, VR therapy, and VR storytelling are growing segments. REAL System, PropVR, and 3D virtual world are some of the innovative VR solutions.
° The global virtual reality (VR) market faces a significant challenge due to the high cost of hardware. This financial barrier limits both consumer and enterprise adoption, hindering market expansion. For individuals, the expense of acquiring VR headsets, high-performance computers, and related peripherals is prohibitive.
° The substantial investment required for a high-quality VR experience deters many potential users. This financial hurdle poses a challenge to the widespread adoption of virtual reality technologies across various industries.
About the Vision Pro
Demos of the Apple Vision Pro at Apple Stores in the U.S. can be reserved on Apple.com. To reserve a free Vision Pro demo online, go here, then follow the steps to book an appointment at your local Apple Store.
Pricing for the Vision Pro starts at US$3,499 with 256GB of storage. ZEISS Optical Inserts are available: $99 for reading lens and $149 for prescription lens.
Article provided with permission from AppleWorld.Today