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3. Immersive VR Companies - Meta (US) and Sony Group Corporation (Japan) are the Key Players

The global immersive VR market was valued at USD 10.1 billion in 2024 and is projected to reach USD 34.9 billion by 2029; it is expected to register a CAGR of 28.0% during the forecast period. Technological advances such as high-resolution displays, increasing availability of immersive VR content creation tools, the growing popularity of Metaverse, and the adoption of head-mounted displays in various applications such as education and healthcare are the major driving factors of the market.

Meta (US), Sony Group Corporation (Japan), Samsung Electronics Co., Ltd. (South Korea), Microsoft (US), Unity Technologies (US), Barco (Belgium), Penumbra, Inc. (US), HTC Corporation (Taiwan), ByteDance (China), DPVR (China), Quytech (India), FOVE, Inc (Japan), Ultraleap (England), WorldViz, Inc. (US), Vection Technologies (Australia), MindMaze (Switzerland), Virtuix (US), HQSoftware (Estonia), and XRHealth Inc. (US) are some of the key players in the immersive VR market.

To know about the assumptions considered for the study download the pdf brochure

Major Immersive VR companies include:

• Meta (US)
• Sony Group Corporation (Japan)
• Samsung Electronics Co., Ltd. (South Korea)
• Microsoft (US)
• Apple, Inc. (US)

Meta

Meta, formerly known as Facebook, has made significant strides in the VR industry. The release of Quest 3 is their commitment to advancing immersive experiences and empowering creators in the VR space. Meta's strong technological expertise, wide market reach, and supportive developer ecosystem further solidify its position as a major player in the industry. This suggests that Meta is in a good position to keep leading innovation and influencing the future development of immersive VR technology. The company also invested a significant portion of its revenue for R&D, i.e., ~30%, in 2023, which depicts its focus on growth through technological advancements. Meta focuses on organic growth strategies, such as product launches and enhancements, and inorganic growth strategies, such as collaborations and partnerships. For instance, In October 2023, the company launched Quest 3, a VR headset with add-on AR capabilities. However, the company also focuses on inorganic growth strategies. For instance, in May 2024, Meta partnered with Alo Moves to feature 3D classes for a new level of immersion.

Sony Group Corporation

Sony Group Corporation has a very large global presence, with manufacturing units spread across the globe. With many collaborations and breakthrough innovations in virtual reality devices, Sony can integrate many new technologies into its products and constantly strive to expand user experience in virtual reality devices. Sony's virtual reality device developments are being heavily integrated into several products from its business segments, greatly improving the quality of gaming. One of the company's major plans is to pursue expansion prospects by focusing on new markets like gaming.

For instance, in October 2023, the company unveiled the PlayStation 5 Slim version. It's a redesigned version of the original PS5 that's smaller and lighter, with a few other improvements. The PS5 Slim is about 30% smaller in volume than the original PS5. Additionally, because it is lighter, it is easy to move and fit into entertainment centers. Furthermore, the company allocates about 7% of its revenue to research and development in order to support the development of new products. Moreover, it emphasizes non-organic strategies like joint ventures for the production of new products. For example, in April 2024, Sony Group Corporation and Siemens agreed to release by December 2024 a virtual reality headset specifically designed for Siemens' industrial metaverse focus. The headset is now integrated with Siemens' engineering design platform NX, with ambitions to expand interoperability to include more Siemens products.

Microsoft

Microsoft intends to expand its offerings through partnerships and acquisitions. Microsoft opened the Windows Holographic platform to its hardware partners. The platform depicts their growth intentions in the virtual reality market. The company provides several VR solutions, including the Hololens device with advanced spatial mapping, a comprehensive mixed reality platform (Windows Mixed Reality), a robust developer ecosystem (including Unity and Visual Studio), and Azure cloud services for hosting and delivering immersive AR VR content. Microsoft also has an established market presence in the technology industry. The company significantly invests in R&D activities, which accounted for ~13% of the revenue generated in the year 2023, which ensures more development for the company.

ByteDance

ByteDance offers VR headsets tailored towards consumers, businesses, and educational institutions, which are identified for their portability as well as for being inexpensive. The corporation has a powerful regional presence in various cities such as Austin, Barcelona, Beijing, Berlin, Dubai, Dublin, Hong Kong, Jakarta, London, Los Angeles, New York, Paris, Seattle, Seoul, Shanghai, Shenzhen, Singapore, and Tokyo. The company entered the virtual reality (VR)market when it acquired Pico Technology Co.Ltd.(PICO), the foremost VR startup that is well-known. This acquisition signifies ByteDance’s intention to broaden its business beyond its thriving TikTok and Douyin platforms. It focuses on organic growth strategies like launching new products. For instance, in September 2022, they launched PICO 4 which is a VR headset featuring advanced features like sub-millimeter positioning accuracy, millisecond tracking speed, and having 4K+ Super-Vision Display that will unarguably strengthen its position in this industry.

HTC Corporation

HTC Corporation is one of the key players in the immersive VR market owing to its extensive prowess in hardware design and innovation. The HTC VIVE series is an example of the company’s leadership in the VR industry with high-quality images, accurate tracking, and extensive content. The company focuses on both inorganic and organic strategies. For instance, the company released the VIVE XR elite headset in January 2023. The VIVE XR elite headset combines VR and MR capabilities for various activities, including productivity, gaming, and fitness, owing to its lightweight and compact design.

Related Reports:

Immersive VR Market by Head-Mounted Displays (HMDs), Gesture Tracking Devices, Display Walls & Projectors, Sensors, Semiconductor Components, Position & Room Trackers, Displays and Cameras - Global Forecast to 2029

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