According to the research report titled ‘Global Virtual Reality Headset Market Size study, by End Device (Low End Device, Mid Range Device, High End Device ) by Product Type (Standalone, Smartphone enabled, Standalone PC connected) by Application (Gaming, Healthcare, Media & Entertainment, Manufacturing, Retail, Education, Telecommunications, Others)and Regional Forecasts 2021-2027’, available with MarketStudyReport, global virtual reality headset market was worth USD 7.81 billion in 2020 and is anticipated to record a CAGR of 28.2% during 2021-2027 to reach a valuation of USD 44.45 billion by the year 2027.
 

The expansion of the global virtual reality headset market is being fueled by an increase in emerging trends in VR technology. According to Statista, global shipments of virtual and augmented reality headsets reached 5.5 million units in 2020 and are expected to be 11 million units in 2021, and 43.5 million units by 2025.
 

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For the unversed, a virtual reality headset is a head-mounted device that allows the user to experience virtual reality.
 

Moreover, new gaming console trends coupled with increasing penetration of smartphones are likely to stimulate market expansion in the upcoming years.
 

On the downside, the market's growth is expected to be slowed over 2021-2027,owing to concerns regarding the quality of visual effects offered by VR headsets.
 

In terms of product type, worldwide virtual reality headset industry is classified into standalone PC connected, smartphone enabled, and standalone. By end device, the market fragmentation comprises high end, mid-range, and low-end devices.
 

On the basis of application spectrum, the vertical is split into telecommunications, education, retail, manufacturing, media & entertainment, healthcare, gaming, and others.
 

Considering the regional outlook, the research literature spans across as Asia Pacific, North America, Europe, and Latin America. Among these, Asia Pacific presently holds a significant market share, owing to the emerging trends in VR technology. Meanwhile , North America market is anticipated to grow substantially during 2021-2027, driven by  surging demand for gaming consoles in the region.
 

Key players in global virtual reality headset marketplace are Sony Corporation, Samsung Electronics Co. Limited, Razer Inc., Microsoft Corporation, LG Electronics Inc., HTC Corporation, Google LLC,  Facebook Technologies, LLC., and Carl Zeiss AG.