Global VR In Sports and Entertainment Market (By Application – Training & Development, and Decision Making, Spectators, and Broadcasting, By End-User: Residential, Sports Associations, Team Management, Sports Media, and Theatres, and By Regions)– Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2018 – 2026

The VR in sports and entertainment market is expected to grow at a high Compound Annual Growth Rate (CAGR) of 14.10% from 2018 to 2026. Increasing adoption of technologies in sports owing to bring improvisation in training and development of players coupled with attempt to minimize the margin of errors regarding judgements are expected to be the prime reasons for the adoption of virtual reality technology in sports and entertainment market during the forecast period. In addition, increased spending by the spectators to achieve utmost viewer experiences coupled with the rise in demand for video games powered by VR technology are further estimated to create new necessities and augment the market of growth over the forecast period of 2018-2026.

Training & Development segment is estimated to witness significant growth

The VR in sports and entertainment market has been segmented based on end-user which is further divided into residential, sports associations, team management, sports media and theatres. Based on application the VR in sports and entertainment market has been segmented as training & development and decision making, spectators and broadcasting. The rising competition among the teams or clubs is driving the concerned authorities to adopt VR technologies to provide utmost training to the players which in turn is expected to be the key reason for the training& development segment to propel at the fastest CAGR during the forecast period. Moreover, sports associations or the tournament organizers of Olympics, World Cup and other leagues are expected to have significant demand to implement VR technology during the forecast period for providing better and transparent judgements and decisions to the players.

Europe holds the largest market share by region

The global VR in sports and entertainment market has been geographically segmented into Asia-Pacific, Europe, North America, Latin America, the Middle East and Africa region. In addition to this, Europe region holds the largest market share. The reason may be attributed to the massive investment towards developing a strong sports infrastructure. Furthermore, European regions are greatly involved in sports such as football, hockey, basketball and lawn tennis, where the requirement for transparent judgments and decisions are of utmost importance. Increasing demand for 360-degree video recordings is further driving the Europe virtual reality market in sports and entertainment segment. Asia-Pacific region is further expected to have significant demand for VR in sports and entertainment owing to the presence of technologically advanced nations such as China, Japan and South Korea.

Major Players in VR in Sports and Entertainment Market

Some of the key players in the global VR in sports and entertainment market include AppReal-VR, EON Sports, Facebook, Holodia, HTC, NextVR, Samsung, VR Sport Media, We:eX and Widerun.

The global VR in sports and entertainment market has been segmented into:

Global VR in Sports and Entertainment Market: By Application

·         Training & Development

·         Decision Making

·         Spectators

·         Broadcasting

Global VR in Sports and Entertainment Market: By End-User

·         Residential

·         Sports Associations

·         Team Management

·         Sports Media

·         Theatres

Global VR in Sports and Entertainment Market: By Geography

·         North America

o    U.S.

o    Canada

o    Mexico

·         Europe

o    U.K.

o    France

o    Germany

o    Italy

o    Rest of Europe

·         Asia Pacific

o    India

o    China

o    Japan

o    Rest of Asia Pacific

·         Middle East and Africa

o    South Africa

o    Rest of Middle East and Africa

·         Latin America

o    Brazil

o    Rest of Latin America