The Enterprise and Industrial Virtual Reality Market Will Grow to $9.2 Billion by 2021, According to Tractica

BOULDER, Colo.–(BUSINESS WIRE)–Leveraging customized and expensive equipment, enterprise virtual

reality (VR) has been in use for a number of years for military

training, civil flight training, and industrial 3D modeling. But now

cheaper, mass-produced consumer-grade VR is coming to market, a trend

that will have significant ramifications for the enterprise sector.

According to a new report from Tractica,

the enterprise market for VR hardware and content will increase from

$592.3 million in 2016 to $9.2 billion worldwide by 2021. The market

intelligence firm forecasts that training, simulation, and education

applications will be the key drivers of this growth, but enterprise VR

content categories will also include virtual prototyping and 3D

modeling, public entertainment attractions, and medical therapy.

“Cheaper, more readily accessible consumer-grade VR equipment is opening

up new enterprise use cases, some of which have vast addressable

markets,” says principal analyst Mark Beccue.

Beccue adds that a broad range of industry players, both new and

established, are aggressively working to develop applications leveraging

this new consumer-grade VR ecosystem, aiming squarely at the enterprise

market.

Tractica’s report, “Virtual

Reality for Enterprise and Industrial Markets”, provides global

market forecasts for the period from 2014 through 2021 for annual unit

shipments and associated revenues for VR hardware and content in the

enterprise and industrial sectors. The analysis covers HMDs, along with

other VR equipment such as motion capture cameras, displays and

projectors, and hand tracking devices, as well as software applications

and content creation tools. The report also includes in-depth profiles

of 22 key industry players in the enterprise VR market. An Executive

Summary of the report is available for free download on the firm’s website.

About Tractica

Tractica is a market intelligence firm that focuses on human interaction

with technology. Tractica’s global market research and consulting

services combine qualitative and quantitative research methodologies to

provide a comprehensive view of the emerging market opportunities

surrounding Artificial Intelligence, Robotics, User Interface

Technologies, Wearable Devices, and Digital Health. For more

information, visit www.tractica.com

or call +1.303.248.3000.

http://www.businesswire.com/news/home/20170227005394/en/Enterprise-Industrial-Virtual-Reality-Market-Grow-9.2

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