DUBLIN--(BUSINESS WIRE)--The "Virtual Reality In Gaming Market Size, Share & Trends Analysis Report By Component, By Device, By User (Commercial Space, Individual), By Region, And Segment Forecasts, 2020 - 2027" report has been added to ResearchAndMarkets.com's offering.
The global virtual reality in gaming market size is expected to reach USD 92.31 billion by 2027, expanding at a CAGR of 30.2% over the forecast period.
The intensifying demand for technologically progressive electronic games amongst millennials is anticipated to drive the market growth from 2020 to 2027.
There is a significant demand for recreation activities in a Three-Dimensional (3D) environment using compact virtual reality gaming devices in the younger generations. The preference for enhanced experience using immersive technology into VR simulation of 3D surroundings is expected to drive the market growth. Continual innovations in the VR space and development of wide-ranging virtual reality games have enticed the gaming enthusiasts worldwide. Enriched gaming involvement owing to the interactive video games, alluring VR accessories, and realistic 3D recreational environments is anticipated to encourage the market growth from 2020 to 2027.
Startups are making the most of crowdfunding in the virtual reality space to develop innovative wearables, accessories, and software for recreation. For instance, Cyan, Inc., a U.S. based gaming studio, launched a new crowdfunding campaign in March 2019 for their VR-enabled game named Firmament.' Moreover, the advent of fifth generation (5G) network technology is poised to further augment the VR in gaming experience due to the low latency, improved reliability, and high density offered by the 5G technology.
The technology also enables the integration of virtual reality with cloud solutions. Telecom solution providers are partnering with the market players in the gaming industry to enhance the VR-based offerings. For instance, in April 2019, AT&, Inc. partnered with NVIDIA Corporation; HTC Corporation; PlayGiga; and Arvizio, Inc. to develop its 5G network apt for VR games. These technical advancements are expected to drive the industry growth.
Companies Mentioned
- Sony Corporation
- Microsoft Corporation
- Nintendo Co. Ltd.
- Linden Labs
- Electronic Arts
- Facebook/Oculus VR
- Samsung Electronics Co. Ltd.
- Google Inc.
- HTC Corporation
- Virtuix Omni
- Leap Motion
- Tesla Studios
- Qualcomm Incorporated
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Lucid VR
Virtual Reality In Gaming Market Report Highlights
- Companies are profoundly investing in the research and development of commercial VR accessories that can be connected to smartphones, desktops, and gaming console
- The hardware component segment is expected to expand at the highest CAGR over the forecast period, owing to the high procurement expenses and rapid advancements in wearables and accessories such as virtual reality bodysuit, gloves, input devices, and masks
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The Brazilian, Mexican, and Indian markets are expected to observe a significant surge in the growth, due to a combination of factors including the number of millennials, rising disposable income of buyers, enthusiastic gamers, rapid smartphone penetration, and growing console sales that makes the regions a rewarding market for VR-based games
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Virtual Reality in Gaming Industry Outlook
3.1. Market Segmentation & Scope
3.2. Virtual Reality in Gaming Market Size and Growth Prospects
3.3. Virtual Reality in Gaming - Value Chain Analysis
3.4. Virtual Reality in Gaming - Market Dynamics
3.4.1. Market driver analysis
3.4.1.1. Rising demand of gaming by youth population
3.4.1.2. Increasing disposable income of buyers in developing countries
3.4.1.3. Increasing competitiveness in the virtual reality in gaming space
3.4.2. Market restraint analysis
3.4.2.1. Lack of awareness and high prices of technology
3.4.2.2. Huge initial investment & connecting device compatibility constraints
3.4.2.3. Spatial discomfort & risk of other ailments
3.5. Key Opportunities - Prioritized
3.6. Industry Analysis - Porter's
3.7. Market Share Analysis, 2019
3.8. Virtual Reality in Gaming - Networking devices
3.9. Virtual Reality in Gaming - PEST Analysis
3.10. VR Accessories - Specifications
Chapter 4. Component Type Estimates & Trend Analysis
4.1. Component Type Outlook - Key Takeaways
4.2. Virtual Reality in Gaming Market: Component Type Movement Analysis
4.3. Gaming Software
4.4. Gaming Hardware
Chapter 5. Connecting device Estimates & Trend Analysis
5.1. Connecting device Outlook - Key Takeaways
5.2. Virtual Reality in Gaming Market: Connecting Device Type Movement Analysis
5.3. Gaming Consoles
5.4. Desktops
5.5. Smartphones
Chapter 6. User Estimates & Trend Analysis
6.1. User Outlook - Key Takeaways
6.2. Virtual Reality in Gaming Market: User Movement Analysis
6.3. Commercial space
6.4. Individual
Chapter 7. Regional Estimates & Trend Analysis
7.1. Regional Outlook - Key Takeaways
7.2. Virtual Reality in Gaming Market Share by Region, 2016 & 2027
7.3. North America
7.4. Europe
7.5. Asia Pacific
7.6. Latin America
7.7. Middle East & Africa (MEA)
Chapter 8. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/ws4eqz.
