[FURL=https://www.industryarc.com/Research/Location-based-Virtual-Reality-Market-Research-509451?utm_source=freeprnow&utm_medium=pressrelease&utm_campaign=paidpressrelease]Location-based Virtual Reality Market[/FURL] Location-Based Virtual Reality Market Size is forecast to reach $1.6 billion by 2026, at a CAGR of 30.9% during 2021-2026. Location-based virtual reality allows users to physically interact with the environment in a way that would not be possible otherwise and provides a truly immersive, social, and engaging experience. The location-based VR entertainment provides an improved VR experience.Key Takeaways
Asia-Pacific is one of the most significant regions for the location-based virtual reality market, rapid advancements towards consumer electronic devices such as headsets, projectors and many others with smart connectivity are expected to further boost the market demands towards advanced technologies.
Hardware segment is expected to witness the highest CAGR of 32.1% the forecast period, the soaring gaming industry and 3D infrastructure growth due to which several companies have been investing heavily for the development of this holographic display technology for an enhanced experience in gaming.
Location-based virtual reality market are strengthening their position through mergers & acquisitions and continuously investing in research and development (R&D) activities of the gaming sector along with a vision to come up with solutions to cater to the changing requirements of customers.
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Location-Based Virtual Reality Market Segment Analysis - By Geography
APAC region is dominating Location-Based Virtual Reality Market growth. This region held a significant market share of 37.5% in 2020. Asia-Pacific is one of the most significant regions for the Location-Based Virtual Reality market, mainly due to the growth of the gaming industry along with the automotive sector. Location-based virtual reality is foreseen to witness expansion owing to the soaring gaming industry and 3D infrastructure growth. Several companies have been investing heavily in the development of this holographic display technology for an enhanced experience in gaming.
Location-Based Virtual Reality Market Drivers
Advancement in Technologies
Surge in 360 degree content
Location-Based Virtual Reality Market Landscape
Top players operative in Location-Based Virtual Reality Market are Neurogaming Ltd., Tyffon, Inc., HTC Corporation, Oculus VR LLC, Zero Latency PTY Ltd., Hologate GmbH, Survios, Inc., SpaceVR, Inc., Springboard VR, EXIT VR among others.
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