Virtual Reality in Gaming Market Analysis
The virtual reality (VR) in gaming market size is predicted to touch USD 14.6 billion at a 30.5% CAGR between 2017- 2023 states the recent Market Research Future (MRFR) analysis. Virtual reality or VR gaming, simply put, is the use of a 3-D realistic simulation environment in computer games. VR will serve as a game-changer in the gaming industry, thereby enhancing the gaming experience.
Various factors are propelling the global virtual reality in gaming market share. As per the current MRFR report, such factors include the availability of such gadgets at pocket-friendly prices, increased penetration of advanced gaming gadgets, growing demand for latest simulated features in such games, and rising popularity of virtual reality technology in gaming especially among youngsters in developing and developed regions.
On the contrary, lack of standout content, lack of awareness of this technology in games, the high price of virtual reality gaming, spatial discomfort, and a minor decline in the sales of VR gaming accessories and devices overall during the COVID-19 pandemic may limit the global virtual reality gaming market growth during the forecast period. Besides, the increasing risk of mental and physical ailments due to prolonged use of VR gaming devices are also impacting the virtual reality in gaming market growth.
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Key Players
Leading players profiled in the global virtual reality in gaming market report include VirZOOM, Inc (U.S.), LEAP MOTION, INC. (U.S.), ZEISS International (Germany), Sony Corporation (Japan), SAMSUNG (South Korea), Kaneva (U.S.), Oculus VR, LLC (U.S.), HTC Corporation (Taiwan), Newzoo (Netheralnds), Google (U.S.), and Electronic Arts Inc (U.S.).
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Regional Analysis
Based on region, the virtual reality in gaming market report covers the recent trends and growth opportunities across North America, the Asia Pacific (APAC), Europe, the Rest of the World (RoW). Of these, North America is predicted to lead the market over the forecast period. The growing use of gaming devices that are technologically advanced for their accessibility at pocket-friendly prices, burgeoning demand for such devices with new advanced features, and increased popularity among the young population are adding to the global virtual reality in gaming market growth in the region.
The virtual reality (VR) in gaming market in the APAC region is predicted to grow at a fast pace over the forecast period. Introduction of new virtual reality gadgets and games, the rising popularity of
virtual reality, easy accessibility of pocket-friendly advanced gaming devices, and rising penetration of smart gadgets, especially in developing economies, are adding to the virtual reality in gaming market growth in the region.
The virtual reality in gaming market in Europe is predicted to have healthy growth over the forecast period. Rising investments in the domain coupled with Germany being the hub for gaming experiencing a surge in escape rooms, free-roam, and VR gaming arcades are adding to the global virtual reality in gaming industry growth in the region.
The virtual reality (VR) in gaming market in the RoW is predicted to have sound growth over the forecast period. Substantial gamer-base, growing console games, rising crowd-funding, and the growing number of start-ups in the virtual reality space is adding to the global virtual reality (VR) in gaming market growth in the region.
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Market Segmentation
The MRFR provides an inclusive segmental analysis of the global virtual reality gaming market based on hardware software compatibility.
- By hardware, the global virtual reality in gaming market is segmented into headsets, gloves, glasses, devices, and others.
- By software compatibility, the global virtual reality in gaming market is segmented into consoles, tablets, box PC, casual web games, smartphones, MMOs, and others. Of these, the consoles segment will dominate the market over the forecast period.
1 Market Introduction
1.1 Introduction
1.2 Scope Of Study
1.2.1 Research Objective
1.2.2 Assumptions
1.2.3 Limitations
1.3 Market Structure
2 Research Methodology
2.1 Research Network
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis Forecast
2.4.2 Market Size Estimation
3 Market Dynamics
3.1 Introduction
3.2 Market Drivers
3.3 Market Challenges
3.4 Market Opportunities
3.5 Market Restraints
4 Executive Summary
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