Virtual Reality In Gaming Market

Virtual reality refers to a simulated environment created by using software and hardware, in order to provide real environment experience to users. Virtual reality is experienced through sound and sight. VR technology has been used in many applications including entertainment and gaming. Virtual reality in gaming is referred to the use of sound and graphics technology in games where the user wears gloves, head-mounted display (HMD), and glasses as a part of their experience.

The global Virtual Reality in Gaming market was valued for US$ 9493.1 Mn in 2021.

Market Dynamics

The demand of VR technology in the gaming industry is rapidly growing owing to the immersive gaming experience offered by the gaming devices to the gamers. In the recent past, key market players in the market are focusing on the developing advanced hardware which can produce higher graphic quality results. The demand for these devices is rapidly growing. For instance, In April 2020, Sony Corporation, a Japan based technology company announced its latest VR supported gaming council known as Sony PlayStation 5, where company focused on new generation hardware to support graphics intensive gaming. Further, this device also supports VR game streaming using high speed internet.

 Although VR streaming offers superior gaming experience, initial cost of these devices is high. For instance, PlayStation 5 (which is mentioned in earlier example) costs around US$ 500 - 600. Apart from gaming console other connected devices such as HMD, sound system also needs be equipped to provide VR content. Thus, combining all these devices the end cost to experience VR drastically increases. Such high initial cost of the devices may hamper the growth of the global virtual reality in gaming market during the forecast period.

 Key features of the study:

• This report provides an in-depth analysis of the global virtual reality in the gaming market and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2022-2030), considering 2021 as the base year
• It elucidates potential revenue opportunities across different segments and explains an attractive investment proposition matrix for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
• It profiles leading players in the global virtual reality in gaming market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
• Key companies covered in the global virtual reality in gaming market are Electronic Arts Inc., Kaneva LLC, Nintendo Co. Ltd, Avatar Reality Inc., Sony Corporation, Oculus VR, Activision Publishing Inc., and Sega Corporation.
• The market players are focusing on strategic collaborations to innovate and launch new products to meet the increasing needs and requirements of consumers.
• Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
• The global virtual reality in gaming market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global virtual reality in gaming market.

Detailed Segmentation

• Global Virtual Reality in Gaming Market, By Type:
  • Software
  • Hardware
• Global Virtual Reality in Gaming Market, By End-Use Industry:
  • MAC
  • X-BOX
  • Play Station
  • PC
  • Nintendo Wii
• Global Virtual Reality in Gaming Market, By Region:
  • North America
  • Europe        
  • Asia Pacific
  • Latin America
  • Middle East and Africa
• Company Profiles
  • Electronic Arts Inc.
    • Company Overview
    • Product Portfolio
    • Financial Performance
    • Key Strategies
    • Recent Developments
  • Kaneva LLC.
  • Nintendo Co. Ltd.
  • Avatar Reality Inc.
  • Sony Corporation
  • Oculus VR
  • Activision Publishing Inc.
  • Sega Corporation.

“*” marked represents similar segmentation in other categories in the respective section