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VR software to play a key role in the virtual reality market The increasing use of head-mounted displays (HMDs) in the entertainment and gaming sector, declining prices of displays and other hardware components of HMDs, and the use of VR for training and simulation in the defense sector are the major factors driving the virtual reality market. The report “ Virtual Reality Market by Component (Hardware and Software), Technology (Non-Immersive, Semi- & Fully Immersive), Device Type (Head-Mounted Display, Gesture Control Device), Application and Geography – Global Forecast to 2022″, published by MarketsandMarkets, predicts the virtual reality market is expected to grow from USD 1.37 Billion in 2015 to USD 33.90 Billion by 2022, at a CAGR of 57.8% between 20.