Virtual reality (VR) is an artificial environment created with software that is presented to the user so that the user stops believing and accepts it as a real environment.
Sizing and Forecast
The virtual reality in gaming market size has grown exponentially in recent years. It will grow from $15.26 billion in 2023 to $19.62 billion in 2024 at a compound annual growth rate (CAGR) of 28.5%. The growth in the historic period can be attributed to consumer demand for immersive experiences, growth of high-end gaming platforms, content development and game titles, enhanced hardware capabilities.
The virtual reality in gaming market size is expected to see exponential growth in the next few years. It will grow to $55.21 billion in 2028 at a compound annual growth rate (CAGR) of 29.5%. The growth in the forecast period can be attributed to emergence of cloud gaming platforms, focus on social and multiplayer gaming, innovation in input devices and controllers. Major trends in the forecast period include storytelling and narrative-driven VR games, VR fitness and wellness gaming, user-generated content and modding, integration of haptic feedback technology, VR game streaming and subscription services.
Order your report now for swift delivery, visit the link:
https://www.thebusinessresearchcompany.com/report/virtual-reality-in-gaming-global-market-report
Segmentation & Regional Insights
The virtual reality in gaming market covered in this report is segmented –
1) By Component: Software, Hardware
2) By Types Of Games: Racing, Adventure, Fighting, Shooting, Mystery Thriller, Puzzle, Science Fiction, Other Types
3) By Device: Personal Computers, Gaming Consoles, Mobile Devices
4) By End-User: Commercial Space, Individual
North America was the largest region in the virtual reality in gaming market in 2023. The regions covered in the virtual reality in gaming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Intrigued to explore the contents? Secure your hands-on a free sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=5605&type=smp
Major Driver Impacting Market Growth
The increase in adoption of VR devices is driving the growth of virtual reality in the gaming market going forward. Virtual reality systems create a virtual experience that appears to be real, allowing the user to interact with the 3D world and feel the scenes and objects as if they were real. In the latest generation of computer games, VR devices are employed to make the players feel immersed in the game. For instance, in August 2023, according to the report by Statista, the German-based online platform that collects and visualizes data, the market size for virtual reality head-mounted displays (HMDs) in 2020 amounted to $5.5 billion. Subsequently, the adoption of VR devices witnessed significant growth, with projections indicating an ascent to $18.6 billion by 2026. Notably, approximately 5.5 million units of augmented and virtual reality devices were slated for shipment in 2020. Therefore, the increasing adoption of VR devices is expected to propel the growth of virtual reality in the gaming market in the coming years.
Key Industry Players
Major companies operating in the virtual reality in gaming market report are Alphabet Inc., Samsung Electronics Co Ltd., Microsoft Corporation, Facebook Technologies LLC, Intel Corporation, Qualcomm Inc., Sony Interactive Entertainment LLC, Advanced Micro Devices Inc., Nvidia Corp, Nintendo Co Ltd., ZEISS Group AG, Valve Corporation, Electronic Arts Inc., Epic Games Inc., Razer Inc., Unity Software Inc., Sixense Enterprises Inc., HTC Corporation, Pimax Innovation Inc., Varjo Technologies Oyj, Oculus HR Ltd., Starbreeze Studios AB, Vuzix Corporation, Subpac Inc., Virtuix Inc., bHaptics Inc., Sensics Inc., Manus VR B.V., Fove Inc., Kaneva LLC, TPCAST Technology Inc., Infinadeck Corporation, Dexta Robotics Corporation Limited, Teslasuit Inc., YUR Inc.
The virtual reality in gaming market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
.
.
.
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
Explore the trending research reports from TBRC:
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
