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Gaming industry has witnessed a surge in the adoption of immersive technologies, transforming the way players interact with games and experiences. Immersive technology refers to technologies that create a sense of presence and immersion by engaging multiple senses, such as virtual reality (VR), augmented reality (AR), and mixed reality (MR). One prominent trend in this market is the increasing popularity of VR gaming, driven by advancements in VR hardware, software, and content. VR gaming provides players with immersive and interactive experiences, allowing them to step into virtual worlds and interact with environments and characters in new and exciting ways. With the introduction of standalone VR headsets such as the Oculus Quest and PlayStation VR, VR gaming has become more accessible and affordable, attracting a broader audience of gamers.
Another notable trend is the integration of AR technology into mobile gaming experiences, enabling players to overlay digital content and interactive elements onto the real world through their smartphones or tablets. AR gaming apps such as Pokémon GO and Harry Potter: Wizards Unite have gained widespread popularity, blending virtual elements with the physical environment to create engaging and interactive gameplay experiences. AR technology also offers opportunities for location-based gaming, multiplayer experiences, and social interaction, enabling players to explore and interact with the world around them in new and innovative ways.
Furthermore, there is a growing interest in mixed reality (MR) gaming, which combines elements of both VR and AR to create immersive and interactive experiences that seamlessly blend virtual and real-world elements. MR gaming headsets such as Microsoft's HoloLens and Magic Leap One offer players the ability to interact with holographic objects and digital content overlaid onto their physical surroundings, creating a truly immersive and interactive gaming experience. MR gaming has applications beyond traditional gaming, including education, training, and enterprise use cases, enabling users to visualize and interact with complex data, simulations, and 3D models in real-time.
Additionally, the rise of cloud gaming services is reshaping the gaming landscape and driving the adoption of immersive technologies. Cloud gaming platforms such as Google Stadia, NVIDIA GeForce Now, and Xbox Cloud Gaming (formerly known as Project xCloud) enable players to stream games over the internet to a variety of devices, including smartphones, tablets, smart TVs, and PCs, without the need for high-end gaming hardware. These platforms leverage cloud computing and streaming technologies to deliver high-quality gaming experiences with minimal latency, enabling players to access and play immersive games anytime, anywhere, on any device.
Moreover, the convergence of gaming and entertainment industries is fueling the adoption of immersive technologies in gaming. With the rise of virtual concerts, live events, and social experiences in virtual worlds such as Fortnite and Roblox, immersive technologies are increasingly being used to create interactive and engaging entertainment experiences that transcend traditional gaming boundaries. Virtual reality concerts, immersive theater experiences, and virtual theme parks are just a few examples of how immersive technologies are transforming the entertainment landscape and blurring the lines between gaming, entertainment, and social interaction.
Lastly, the COVID-19 pandemic has accelerated the adoption of immersive technologies in gaming, as people seek alternative forms of entertainment and social interaction while staying at home. With lockdowns, social distancing measures, and restrictions on public gatherings in place, virtual reality, augmented reality, and mixed reality technologies have emerged as viable solutions for connecting people, providing entertainment, and fostering social interaction in a virtual environment. As a result, the demand for immersive gaming experiences has surged, driving investments in VR hardware, software development, and content creation, and paving the way for the continued growth and expansion of immersive technologies in the gaming market.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | Social VR platforms and multiplayer VR experiences are promoting social connections in virtual environments. |
| Market Dynamics | The development of high-quality, exclusive VR and AR content as a result of cooperation between tech firms, gaming studios, and content producers is enhancing the appeal of immersive technology. |
Immersive Technology in Gaming Industry Market Highlights:
Immersive Technology in Gaming Industry Market Overview
Immersive Technology in Gaming Industry Market Size was valued at USD 8.83 Billion in 2022. The Immersive Technology in Gaming Industry market industry is projected to grow from USD 10.41 Billion in 2023 to USD 86.39 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 25.6% during the forecast period (2023 - 2032).
Enhanced Gaming Experience, Hardware Advancements, Content Development, Growth of eSports, Health and Fitness Applications, Entertainment Beyond Gaming, Investment and Funding, Advancements in tracking and graphics, Positive user experiences and word-of-mouth recommendations are encouraging more gamers to try immersive technology, are the key market drivers enhancing the market growth.
Figure 1: Immersive Technology in Gaming Industry Market Size, 2023-2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Immersive Technology in Gaming Industry Market Trends
Enhanced Gaming Experience is driving the market growth
Gamers seek an immersive experience that makes them feel like a part of the game. This urge is specifically satisfied by VR technology, which takes gamers into virtual worlds. When you put on a VR headset, you stop only managing a character on a screen and instead take on the role of that character, experiencing the game world from their point of view. The adoption of VR in gaming is being fueled by this unmatched level of immersion.
Players' emotions can be strongly evoked through immersive technologies. In VR, the feeling of presence and the capacity to engage more deeply with virtual worlds and characters can elicit powerful emotional reactions. Immersive technology intensifies these emotional experiences, making gaming more intriguing and memorable, whether it is the dread of playing a horror game, the exhilaration of playing a racing simulation, or the wonder of exploring magical realms.
Immersive gaming is characterized by higher levels of engagement. Players can interact with the game environment and objects in VR and AR by making hand motions, body movements, and even vocalizations. Traditional gaming interfaces can't compete with the physicality and engagement that this hands-on approach to gaming brings. Because of the interactivity, players keep coming back for more in search of fresh and different experiences.
Experiences in social gaming are being improved via immersive technologies. In virtual environments where they may communicate and work together as if they were physically present, users can connect with friends and other players in multiplayer VR games. Its appeal is being driven by this social component of VR gaming, especially during times when opportunities for in-person interactions are scarce.
The potential of immersive technology is constantly being pushed by game makers. They are experimenting with novel gaming mechanics, narrative strategies, and visual effects that are only possible in virtual reality or augmented reality. Gamers find this desire for innovation thrilling, and it also draws in new audiences to the gaming sector. Thus, driving the Immersive Technology in Gaming Industry market revenue.
Immersive Technology in Gaming Industry Market Segment Insights
Immersive Technology in Gaming Industry Component Insights
The Immersive Technology in Gaming Industry market segmentation, based on Component, includes Hardware, Head-Mounted Display (HMD), Gesture Tracking Devices (GTD), Projectors & Display Walls (PDW), Software/Platform, Services, Professional and Managed. The Hardware segment dominated the market in 2022. Hardware manufacturers have been working to make VR headsets and AR glasses more comfortable, lightweight, and user-friendly. Enhanced ergonomics and reduced bulkiness encourage longer gaming sessions and better user experiences.
Immersive Technology in Gaming Industry Technology Insights
The Immersive Technology in Gaming Industry market segmentation, based on Technology, includes Mixed Reality (MR), Virtual Reality (VR), Augmented Reality (AR) and 360 Film. The Virtual Reality (VR) segment dominated the market in 2022. VR is firmly entrenched in the world of competitive gaming. Games like "Beat Saber" and "Echo VR" have flourishing e-sports ecosystems that draw both participants and spectators. In addition to deepening the experience, the competitive nature of VR gaming also piques interest in the technology.
Immersive Technology in Gaming Industry Application Insights
The Immersive Technology in Gaming Industry market segmentation, based on Application, includes Training & Learning, Emergency Services, Product Development and Sales & Marketing. The Product Development category generated the most income in 2022. The feeling of touch and engagement in immersive gaming is enhanced by the incorporation of haptic feedback and advanced input devices. Products that give a more immersive tactile experience, such haptic gloves or motion controllers, are the focus of product development efforts.
Figure 1: Immersive Technology in Gaming Industry Market, by Technology, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Immersive Technology in Gaming Industry Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Immersive Technology in Gaming Industry Market dominated this market in 2022 (45.80%). There is a sizable gaming community in the US. The popularity of Valve Corporation's VR headgear, the Valve Index, serves as a prime illustration of the market's need for immersive technology. One of the biggest names in the gaming business, Valve, saw the promise of virtual reality and produced the Index headgear, which offers premium VR experiences and works with well-known titles like "Half-Life: Alyx." The overwhelmingly positive response from gamers in North America demonstrates the market's hunger for immersive gaming. Further, the U.S. Immersive Technology in Gaming Industry market held the largest market share, and the Canada Immersive Technology in Gaming Industry market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: IMMERSIVE TECHNOLOGY IN GAMING INDUSTRY MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Immersive Technology in Gaming Industry market accounts for the second-largest market share. Europe's diverse cultures and historical richness serve as an inspiration for immersive gaming experiences. One notable example is "Assassin's Creed" by Ubisoft, a game series that explores different historical settings, including Renaissance Italy, ancient Egypt, and Viking-era Norway. Ubisoft, headquartered in France, leverages Europe's cultural diversity to create captivating game worlds that resonate with a audience. Further, the German Immersive Technology in Gaming Industry market held the largest market share, and the UK Immersive Technology in Gaming Industry market was the fastest growing market in the European region.
The Asia-Pacific Immersive Technology in Gaming Industry Market is expected to grow at the fastest CAGR from 2023 to 2032. China, Japan, and South Korea are among the Asia-Pacific nations that dominate the mobile gaming industry. Games like "Pokémon GO" (created by Niantic) are a prime example of how augmented reality and mobile gaming have combined. The popularity of the game encouraged many mobile gamers in the area to start using AR technology. Moreover, China’s Immersive Technology in Gaming Industry market held the largest market share, and the Indian Immersive Technology in Gaming Industry market was the fastest growing market in the Asia-Pacific region.
Immersive Technology in Gaming Industry Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Immersive Technology in Gaming Industry market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Immersive Technology in Gaming Industry industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Immersive Technology in Gaming Industry industry to benefit clients and increase the market sector. In recent years, the Immersive Technology in Gaming Industry industry has offered some of the most significant advantages to medicine. Major players in the Immersive Technology in Gaming Industry market, including Acer Inc., Atheer, Inc., AVEVA Group PLC, Barco NV, Blippar Ltd., Carl Zeiss AG, CM Labs Simulations Inc., EON Reality, Inc., FAAC Incorporated, Google, LLC, HCL Technologies Limited, Honeywell International, Inc., HTC Corporation, Immersive Media Company, Immersive Technologies Pty Limited, Lockheed Martin Corporation, Magic Leap, Inc., NCTech Limited, Oculus (Facebook Technologies, LLC.), Samsung Group, Sony Corporation, Unity Software Inc., Varjo Technologies Oy, VI-grade GmbH, Zeality Inc. and others, are attempting to increase market demand by investing in research and development operations.
Google LLC (Google), an affiliate of Alphabet Inc., provides online search and advertising services. The company's primary business segments include advertising, search, platforms and operating systems, enterprise products, and hardware. These are just a few of the products and services it provides: Google Search, Google Chrome, Google Docs, Google Calendar, Google Photos, Google Meet, Google Drive, Google Finance, Google Play Books, Google News, Google Earth, Google Ad Manager, Google Play, AdMob, Google Maps, AdSense, Gmail, Google Groups, and YouTube. The business has operations in the Americas, Europe, Asia-Pacific, Middle East, and Africa. Google's main office is located in Mountain View, California, in the United States.
HCL Technologies Ltd (HCL) is a provider of software and IT infrastructure services. The company offers a wide range of services in the following areas: industry software services, engineering and R&D services, cybersecurity, cloud native services, digital and analytics services, DRYiCE, IoT works, HCL software services, SIAM/XaaS products & advanced services. The following sectors are served by HCL: banking, finance, manufacturing, telecommunications, retail and CPG, media and entertainment, life sciences, insurance, capital markets, oil and gas, mining and natural resources, automotive, chemical and process industries, high-tech, industrial manufacturing, energy and utility, healthcare, travel, transportation, hospitality, and logistics. The company operates an international offshore infrastructure in addition to a network of offices across the Americas, Asia-Pacific, the Middle East, Africa, and Europe. HCL's headquarters are in Noida, Uttar Pradesh, in India.
Key Companies in the Immersive Technology in Gaming Industry market include
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Acer Inc.
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Atheer Inc.
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Blippar Ltd.
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Carl Zeiss AG
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CM Labs Simulations Inc.
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EON Reality, Inc.
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FAAC Incorporated
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Google LLC
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HCL Technologies Limited
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Honeywell International, Inc.
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Immersive Media Company
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Immersive Technologies Pty Limited
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Lockheed Martin Corporation
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Magic Leap, Inc.
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NCTech Limited
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Oculus (Facebook Technologies, LLC.)
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Samsung Group
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Sony Corporation
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Unity Software Inc.
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Varjo Technologies Oy
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VI-grade GmbH
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Zeality Inc.
Immersive Technology in Gaming Industry Industry Developments
In March 2022, StatusPRO, Inc., a sports tech and gaming company, has teamed up with the National Football League to create an NFL-authorized virtual-reality video game.
This December 2021 deal between Brelyon (an MIT spin-off making innovative ultra-immersive display technologies) and GameWorks (a leading eSport and entertainment company) on deploying virtual display technology for e-sports is mind-blowing. GameWorks’ American locations are to have Brelyon’s full-size gaming stations.
Collaboration among Oculus VR, indie studio Armature, and publisher Capcom led Resident Evil 4 VR remake onto Oculus Quest 2 in April 2021. Facebook, its parent company, is looking to continue using Quest as a marketing tool.
In April 2024, XR Immersive Tech Inc. (“Immersive Tech”, or the “Company”) (CSE: VRAI) (FSE:79W) (OTCQB: FNTTF), an industry leader in Social Entertainment, AI, VR, and AR content and experiences, is thrilled to announce the partnership with Smilegate Entertainment Inc to bring one of most popular first-person shooter VR games in the world Crossfire: Sierra Squad to VR locations worldwide through its subsidiary Synthesis VR (SynthesisVR). The SynthesisVR software platform is one of the largest VR out-of-home entertainment marketplaces for games, educational experiences, and training worldwide. SynthesisVR has over 450 VR arcades globally and a market of over 400+ VR games.
During May 2024 month’s end, i.e., on May 23rd, Sony revealed its “Creative Entertainment Vision” during a corporate strategy meeting. This plan outlines what the company wants to achieve in the next decade by highlighting how new technology will change entertainment. SONY’S CREATIVE ENTERTAINMENT VISION serves as a compass for future business decisions and investments, where they want to be in ten years, given the rapid technological developments that are reshaping entertainment.
An Indian metaverse research and advisory firm, Metaverse911, has established a Metaverse Experience Centre (MEC) in Noida. The firm officially launched this experience center on Tuesday to enable industry leaders and other Web3 enthusiasts to discover its potential. The center will let visitors indulge in immersive technologies that include Augmented Reality (AR) and Virtual Reality (VR) — all of which make for key components that bring the digital ecosystem to life in the metaverse.
Immersive Technology in Gaming Industry Market Segmentation
Immersive Technology in Gaming Industry Component Outlook
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Hardware
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Head-Mounted Display (HMD)
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Gesture Tracking Devices (GTD)
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Projectors & Display Walls (PDW)
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Software/Platform
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Services
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Professional
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Managed
Immersive Technology in Gaming Industry Technology Outlook
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Mixed Reality (MR)
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Virtual Reality (VR)
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Augmented Reality (AR)
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360 Film
Immersive Technology in Gaming Industry Application Outlook
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Training & Learning
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Emergency Services
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Product Development
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Sales & Marketing
Immersive Technology in Gaming Industry Regional Outlook
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North America
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U.S.
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Canada
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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