Market players are using cloud technology to improve the gaming experience. Cloud technology allows for the alteration of gaming libraries as well as the storage of games for rapid access to user profiles. Furthermore, the technology provides a comprehensive set of capabilities, such as live streaming, infinite storage capacity, and linked devices, accelerating the future of the online gaming sector. Cloud computing lowers the requirement for expensive offline gaming Discs and drives. Many gamers are turned off by the expensive initial expense of purchasing high-end gaming equipment; however, this is no longer the case with recent advances in cloud computing technologies.
VR gaming incorporates a 3D environment that allows the user on a computing device to sense the physical presence in the game settings by using a mouse, touch screen, and other components. VR technology's many attachments, such as virtual reality headsets, wrap-around display displays, virtual reality rooms outfitted with wearable computers, and sensory components, allow gamers to interact, see and move about the items in the game setting. According to a global study of technology executives, startup founders, investors, and consultants, 59% predict gaming would dominate investment in the development of VR technology. Therefore, With the help of new developments, the virtual reality gaming area is increasing its professional worth. Players are becoming more aware of cutting-edge VR equipment such as headsets, bodysuits, and gloves, which have recently enhanced the virtual reality in gaming market CAGR across the globe for years.
The fast development of virtual reality peripherals, which compatible computers and gaming consoles will support, is expected to fuel market growth. With multiple firms entering the virtual reality gaming field, the business for wearable components such as Head-Mounted Displays (HMDs), bodysuits, motion trackers, gloves, and so on is expanding, another factor driving the growth of the virtual reality in gaming revenue.
Based on hardware, the global virtual reality in gaming segmentation includes headsets, glasses, devices, and gloves. Throughout the projection period, the headsets segment is predicted to increase at a faster CAGR of global virtual reality in gaming revenue. The rising usage of virtual reality headsets, as well as increased investment by hardware makers in creating new VR-compatible gaming devices, are the primary reasons driving the growth of this category. According to a global study of technology executives, startup founders, investors, and consultants, 59% predict gaming would dominate investment in the development of VR technology.
The controller's sector is predicted to increase at the fastest CAGR throughout the projection period. The software segment is predicted to increase at a lower CAGR throughout the projection period. The main obstacle impeding this segment's growth is a lack of a substantial content library. This category includes middleware, engines, tools and applications.
April 2022: Researchers at UTSA established the first global Accessibility VR Game Jam, open to gamers with impairments. Nevertheless, because of COVID-19, they pushed too hastily to transition the game jam to an online-only setting.
Based on Compatibility, the global virtual reality in gaming segmentation has been segmented into MMOs, smartphones, casual web games, and consoles. Throughout the projection period, the Gaming Console segment is predicted to increase at a CAGR of 9.6%. The growing number of gamers and the availability of a wide range of gaming consoles are the primary drivers driving the expansion of this industry. The growing popularity of VR gaming among hardcore gamers and the increasing acceptance of VR gaming by PC or desktop gamers are the primary reasons driving the growth of this industry. Throughout the projected period, the smartphone market is estimated to develop at a CAGR of 33.3% in virtual reality in gaming industry. The expanding availability of VR-enabled smartphones and the growing popularity of mobile gaming are driving the expansion of this industry. Smartphones are the less expensive choice, and they are growing more powerful. Yet, because of their small size, they cannot deliver the same immersion as a PC/desktop.
By Region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. Asia Pacific held the largest market share with 45.80% because of the Developing markets, such as India. South Korea, China, and Indonesia would all contribute to regional market expansion. According to ComScore MMX statistics, India, Indonesia, Japan, Australia, and other nations have the highest gaming audience and websites. This is fueling the region's market potential.
Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
North America virtual reality in gaming market accounts for the second-largest market share due to the emergence of fundamental technologies such as augmented reality (AB) and virtual reality, SG, 3D audio, enhanced graphics, and others, driving growth in this sector. In addition, significant firms such as Electronic Arts, Inc., Google LLC, Leap Motion, Inc., Facebook Technologies, LLC, Microsoft Corporation, and others in the area drive market growth. This region's players are concentrating on developing superior hardware and software. Moreover, China virtual reality in gaming market held the largest market share, and India's virtual reality in gaming market was the fastest-growing market in the region
The Asia Pacific Virtual Reality in Gaming Market is expected to grow at the highest CAGR from 2022 to 2030. Europe is predicted to develop considerably due to increased demand for virtual reality devices in gaming competitions in nations such as Germany, Italy, and Spain. These events are based on complex games with VR technology incorporated. Furthermore, in Europe, the authorities and large game organizers are working on launching various gaming events. This is anticipated to increase the region's market share. Moreover, China virtual reality in gaming market held the largest market share, and India's virtual reality in gaming market was the fastest-growing market in the Asia-Pacific region
For instance, in January 2020, In collaboration with the HTC Viveport China team, Virtuleap launched the Enhance VR brain training software in China. Improve VR provides a daily workout of mini-games that measure and develop various cognitive skills such as memory, problem-solving, flexibility, speed, motor skills, spatial orientation, and spatial audio awareness.
Major market players spend a lot of money on research and development to expand their product offerings, which will spur further growth in virtual reality in gaming. With significant market developments like introducing new products, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic initiatives to expand their global footprint. To grow and thrive in a market that is ever more competitive and growing, competitors in the biomarker testing industry must provide affordable products.
One of the most common business methods firms use in the global virtual reality in gaming industry to benefit clients and expand the market sector is manufacturing locally to reduce operating costs. In recent years, virtual reality in gaming industry has provided medicine with some of the most significant benefits. Virtual reality in gaming major players such as Google (U.S.), Electronic Arts Inc (U.S.), HTC Corporation (Taiwan), Newzoo (Netherlands), and others are working on expanding the market demand by investing in research and development activities.
HTC Corporation is a Taiwan-based electronics company best known for its virtual reality (VR) products, specifically the HTC Vive and Vive Pro VR headsets. These headsets are popular among gamers and offer a highly immersive gaming experience. The HTC Vive and Vive Pro VR headsets use room-scale tracking technology to provide an immersive gaming experience that allows players to move around and interact with their virtual environment. For Instance, in January 2023, HTC VIVE continued to push the frontiers of innovation, today introducing the VIVE XR Elite, its latest consumer flagship all-in-one. The headset combines Mixed Reality (MR) and Virtual Reality (VR) features into a compact, lightweight, powerful, and extremely adaptable device suitable for gaming, fitness, productivity, and other applications.
Also, Electronic Arts Inc. (EA) is a major player in the gaming industry that has been incorporating virtual reality (VR) technology into its games. EA is known for developing popular game franchises like FIFA, Madden NFL, and Battlefield, which have all received VR adaptations. EA's VR games offer players an immersive and realistic experience by allowing them to enter and interact with virtual environments. For Instance, the highly anticipated Medal of Honor Above and Beyond was unveiled by Electronic Arts' EA unit, Respawn Entertainment, in collaboration with Facebook FB Reality Labs' Oculus Studios team. The latest virtual reality (VR) entry in the Medal of Honor franchise offers twelve levels and five multiplayer modes designed specifically for VR.
Google (U.S.)
Electronic Arts Inc (U.S.)
HTC Corporation (Taiwan)
Newzoo (Netherlands)
SAMSUNG (South Korea)
Kaneva (U.S.)
LEAP MOTION INC. (U.S.)
Sony Corporation (Japan)
Oculus VR LLC (U.S.)
VirZOOM Inc (U.S.)
ZEISS International (Germany)
May 2021: HTC VIVE introduced two new headsets: the HTC Vive Pro 2, which connects to a computer, and the standalone HTC Vive Focus 3. The company's new product launch is aimed squarely at expanding the market for immersive technologies.
Headsets
Glasses
Devices
Gloves
MMOs
Smartphones
Casual Web Game
Console
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 11.31 billion |
| Market Size 2024 | USD 11.84 billion |
| Market Size 2032 | USD 17.1 billion |
| Compound Annual Growth Rate (CAGR) | 4.70% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018 - 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Hardware, Compatibility, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Google (U.S.), Electronic Arts Inc (U.S.), HTC Corporation (Taiwan), Newzoo (Netherlands), SAMSUNG (South Korea), Kaneva (U.S.), LEAP MOTION INC. (U.S.), Sony Corporation (Japan), Oculus VR LLC (U.S.), VirZOOM Inc (U.S.), ZEISS International (Germany) |
| Key Market Opportunities | Virtual reality in gaming to optimum levels |
| Key Market Dynamics | Virtual gaming devices provide an excellent consumer experience The indefinite benefits of VR gaming |
Frequently Asked Questions (FAQ) :
The global virtual reality in gaming size was valued at USD 11.31 Billion in 2023.
The global market is projected to grow at a CAGR of 4.70% during the forecast period 2024-2032.
Asia Pacific had the largest share of the global market
The key players in the market are Google (U.S.), Electronic Arts Inc (U.S.), HTC Corporation (Taiwan), Newzoo (Netherlands), SAMSUNG (South Korea), and others.
The Headsets segment of virtual reality in gaming dominated the market in 2023.
The Console segment had the largest share of the global market.
Research Analyst Level II With a technical background in information technology & semiconductors, shubham has 4.5+ years of experience in market research and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the ict/semiconductor domain. shubham holds a bachelor’s in information and technology and a master of business administration (mba). shubham has executed over 150 research projects for our clients under the brand name market research future in the last 2 years. his core skill is building the research respondent relation for gathering the primary information from industry and market estimation for niche markets. he is having expertise in conducting secondary & primary research, market estimations, market projections, competitive analysis, analysing current market trends and market dynamics, deep-dive analysis on market scenarios, consumer behaviour, technological impact analysis, consulting, analytics, etc. he has worked on fortune 500 companies' syndicate and consulting projects along with several government projects. he has worked on the projects of top tech brands such as ibm, google, microsoft, aws, meta, oracle, cisco systems, samsung, accenture, vmware, schneider electric, dell, hp, ericsson, and so many others. he has worked on metaverse, web 3.0, zero-trust security, cyber-security, blockchain, quantum computing, robotics, 5g technology, high-performance computing, data centers, ai, automation, it equipment, sensors, semiconductors, consumer electronics and so many tech domain projects.
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