The global Virtual Reality In Gaming market size is expected to be worth around US$ 92.32 billion by 2028, according to a new report by Vision Research Reports.
The global Virtual Reality In Gaming market size was valued at US$ 11.55 billion in 2020 and is anticipated to grow at a CAGR of 30.3% during forecast period 2021 to 2028.
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.
The gaming console segment accounted for the largest revenue share of over 34% in 2019 and is expected to witness a significant CAGR from 2020 to 2027. The ninth generation of consoles is expected to be released by the end of 2020. Based on the connecting device used for virtual reality gaming, the market has been classified into gaming console, PC/ desktop, and smartphone. Sony Corporation and Microsoft have proclaimed their new consoles which are predicted to contain solid-state hard drives, backward compatibility, higher frame rates, and superior quality virtual reality support. These new consoles are anticipated to drive industry growth in the coming seven years.
The PC/desktop segment accounted for a global revenue share of around 25.01% in 2019. Some entertainment-based computer companies such as ORIGIN PC Corporation and CYBERPOWERPC also offer customizations for PCs as per the users’ requirements. The VR gaming experience on the PC/ desktop depends largely on the Graphics Processing Unit (GPU) and the RAM incorporated in it. Chip fabricators such as NVIDIA Corporation and Advanced Micro Connecting devices, Inc. are continuously upgrading their offerings to suit the ever-growing market.
The individual user segment accounted for more than 60.01% revenue share in 2019 and is anticipated to grow at a considerable pace over the forecast period. The most alluded factor to restrict the elevated consumer adoption of VR in gaming is cost. However, the accessibility and availability of VR games at the users’ home and at dropping prices of hardware over the period is consenting the segment dominance in the industry. Industry players are coming up with cost-effective gadgets to penetrate the market as well as widen their consumer base.
The hardware segment accounted for the largest revenue share of over 60.01% in 2019 and is expected to observe significant growth over the forecast period. This may be attributed to the continual upgradations in the VR wearables and accessories, including input devices, masks, gloves, headsets, and bodysuits. The hardware includes any physical component for playing such as gaming platforms, storage media, accessories, and gaming kits. There is a steady demand for input devices that are a requisite for playing virtual reality games.
The software industry is anticipated to expand at a CAGR of over 20.01% from 2020 to 2027. The software segment is likely to experience modest growth as compared to the hardware segment, which is projected to witness rapid growth. VR surrounding and effects are produced using VR software to edge the environment as close as possible to reality. The challenge for the software industry, on the other hand, is to develop software and games, which creates a much more captivating and appealing effect for players.
Asia Pacific dominated the market accounting for over 40.01% share of global revenue in 2019 and is estimated to continue its dominance for the coming seven years. Within the region, China and Japan accounted for a higher market share owing to the vast consumer base and increased adoption of VR games on smartphones. The region is expected to witness huge adoption of the technology, which is also aided by high-speed 5G network deployment, thus enhancing the gaming involvement. Countries such as South Korea and India are expected to observe significant demand for VR games owing to the technological advancements in the entertainment industry and rising disposable income.
Facebook Technologies, LLC./ Oculus
SAMSUNG ELECTRONICS CO., LTD.
Sony Interactive Entertainment LLC
TESLASUIT/VR Electronics Limited
Connecting Device Outlook
Middle East & Africa
The Virtual Reality In Gaming market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Virtual Reality In Gaming market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Virtual Reality In Gaming market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Virtual Reality In Gaming market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Virtual Reality In Gaming market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Virtual Reality In Gaming capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Virtual Reality In Gaming by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Virtual Reality In Gaming market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Virtual Reality In Gaming market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Virtual Reality In Gaming market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Virtual Reality In Gaming industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Virtual Reality In Gaming market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Virtual Reality In Gaming market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Virtual Reality In Gaming market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Virtual Reality In Gaming market. These factors have benefited the growth of the global market for Virtual Reality In Gaming. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Virtual Reality In Gaming. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Virtual Reality In Gaming are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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