Global (VR) Virtual Reality in Gaming Market Size Set to Reach $90.7 billion by 2026, at a 31.4% CAGR
Global (VR) Virtual Reality in Gaming Market Size, Share, Services, Technology & Trends, Growth Revenue, Business Statistics, Analysis ad Forecast 2020-2026: Industry Development Report By Component (Hardware And Software), By Gaming Type (Desktop, Smartphone, And Gaming Console)
New York, Oct. 18, 2022 (GLOBE NEWSWIRE) -- [200 + Pages Research Study] According to a market research study published by Zion Market Research, the demand analysis of Global Virtual Reality (VR) in Gaming Market size & share revenue was valued at around USD 13.4 Billion in 2019 and is estimated to grow about USD 90.7 billion by 2026, at a CAGR of approximately 31.4% between 2020 and 2026. The key market players are listed in the report with their sales, revenues and strategies are Microsoft Corporation (Washington, U.S.), Facebook Gaming LLC (Oculus VR) (California, U.S.), NVIDIA Corporation (California, U.S.), Google, Samsung Electronics, Sony, Apple Inc. (California, U.S.), Electronic Arts (EA), HTC Corporation (Taoyuan City, Taiwan), Unity Technologies (California, U.S.), Magic Inc, Oculus VR, Leap Motion Inc, firsthand Technology Inc. (Washington, U.S.), VirZOOM, Razer, Ubisoft Entertainment SA (Montreuil, France), ZEISS International, and among others.
Zion Market Research has published a new report titled “Virtual Reality in Gaming Market by Component (Hardware, Software, and Content), By Device (Mobile, Console/PC, and Standalone) -Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026.”
“According to the latest research study by Zion Market Research, the demand of global Virtual Reality (VR) in Gaming Market size & share in terms of revenue was valued at USD 13.4 Billion in 2019 and it is expected to surpass around USD 90.7 billion mark by 2026, growing at a compound annual growth rate (CAGR) of approximately 31.4% during the forecast period 2020 to 2026.”
What is Virtual Reality (VR) in Gaming? How big is the Virtual Reality (VR) in Gaming Industry?
Virtual Reality (VR) in Gaming Industry Coverage & Overview:
Virtual reality (VR) is a technology that creates a simulated environment. The computer system is the artificial world's guardian. However, there are a few restrictions on the experience, like the lack of a wide variety of content and limited computational power for a lower price. The virtual reality headset is the system's fundamental component. Virtual reality is being launched as a game-changer in the gaming industry because it is expected to give users a better experience.
Virtual reality (VR) gaming is an application of a 3-D realistic simulation environment to computer games. Earlier to the arrival of compact technology, the VR gaming used multiple screens or projector rooms screens. VR gaming could involve a standard mouse & a keyboard, motion sensors or gaming consoles.
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Global Virtual Reality (VR) in Gaming Market: Growth Dynamics
The virtual reality gaming market is expected to have notable growth in the anticipated timeframe, due to the rising use of three-dimension environment, along with the rising demand for the latest technology in the gaming industry and emerging comfortable and compact virtual reality gaming devices are anticipated to drive market growth in the forecast period. Virtual Reality is about Immersion into virtual reality simulation of a 3D environment. With the implementation of digitalization in almost every sector, it has also helped Virtual Reality expand its significant ground in every sphere. VR can also increase business profits and considerably enhance the customer experience.
Similarly, virtual reality is also trending in the gaming industries, which has benefited from the immersive technology. Many big players in the market have jumped in the VR technology to transform the user gaming experience.
The virtual reality will act as a game-changer in the gaming sector and will also enhance the gaming experience. VR is considered one of the traction-gaining topics in the gaming trends and has also grabbed the attention of the gamers.
Along with the rising VR market, there are certain benefits associated with the virtual reality which is driving the growth of the gaming industry. The VR provides gamers with appealing virtual objects, cutting-edge technology that enriches the gaming, attraction, and retention among players. All these factors are expected to boost market growth for virtual reality in the gaming industry.
The market for virtual reality in gaming is segmented on the basis of component and devices. Mobile devices segment is expected to have substantial growth in the anticipated period. The surge is due to the increasing use of mobile devices for communication and gaming. India has become one of the world's fastest-growing gaming markets, compelled by the growth of smartphones and low-cost data. The above-mentioned factors are expected to propel market growth in the anticipated timeframe.
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Virtual Reality (VR) in Gaming Market: COVID-19 Impact Analysis
The COVID-19 epidemic has had an exceptional and immense impact on the global community. In the midst of the pandemic, the virtual reality in gaming business has witnessed a detrimental influence on demand across all areas. The epidemic caused by COVID-19 had an effect on all aspects of economies around the world. The beginning stages of the pandemic were accompanied by a drop in sales of virtual accessories, hardware, and gaming gadgets.
The temporary shutdown of its manufacturing units had a significant influence on the scope of its hardware production. Nevertheless, during the course of the forecast, it is anticipated that the gaming sector as a whole would expand at a rate significantly higher than the CAGR.
The preliminary findings demonstrated a significant increase in the number of hours spent playing online games both before and after the shutdown.
Virtual Reality (VR) in Gaming Market: Segmentation Analysis
Hardware, software, and content are the three subcategories that make up this market's segmentation based on its components. During the projected period, hardware is anticipated to provide the most market revenue. Consoles, HMDs, controllers, keyboards, gloves, headphones, and bodysuits are all examples of hardware. The demand and sales of VR-based hardware in the gaming sector are primarily responsible for the increase in income. Due to the fact that major key drivers are making cutting-edge hardware, the market is likely to grow at a faster rate than was first predicted during the projection period.
At a considerable CAGR during the forecast period, the software subsegment of the gaming industry is expected to expand. It can be found in authoring systems and toolkits that provide developers with accurate libraries and sophisticated software for making games. In the foreseeable future, the content market is expected to expand at a high rate. Game developers are getting more creative to meet the rising demand for interactive games.
The global mobile, console/PC, and standalone markets are split up by device type. During the ensuing years, consoles and personal computers are anticipated to hold the lion's share of the market. Consumer interest in cloud-based, next-generation 3D gaming consoles is a major factor in this expansion. Users are focused on buying the latest 3D consoles, devices, headphones, and speakers so they can enjoy better graphics and sound effects.
The global Virtual Reality (VR) in Gaming market is segmented as follows:
Global Virtual Reality in Gaming Market: Component Segment Analysis
Hardware
Software
Content
Global Virtual Reality in Gaming Market: Device Segment Analysis
Mobile (Smartphone)
Gaming Console
Desktop/PC
Global Virtual Reality in Gaming Market: User Outlook
Commercial Space
Individual
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Competitive Landscape
Some of the main competitors dominating the global Virtual Reality (VR) in Gaming market include -
Microsoft Corporation (Washington, U.S.)
Facebook Gaming LLC
Oculus VR(California, U.S.)
NVIDIA Corporation (California, U.S.)
Google
Samsung Electronics
Sony International
Apple Inc. (California, U.S.)
Electronic Arts (EA)
HTC Corporation (Taoyuan City, Taiwan)
Unity Technologies (California, U.S.)
Magic Inc
Oculus VR
Leap Motion Inc
firsthand Technology Inc. (Washington, U.S.)
VirZOOM
Razer Inc
Ubisoft Entertainment SA (Montreuil, France)
ZEISS International
Key Insights from Primary Research:
According to the analysis shared by our research forecaster, the Virtual Reality (VR) in Gaming market is likely to expand at a CAGR of around 31.4% during the forecast period (2020-2026).
In terms of revenue, the Virtual Reality (VR) in Gaming market size was valued at around US$ 13.4 Billion in 2019 and is projected to reach US$ 90.7 billion by 2026.
The increase in revenue is mostly attributable to the demand for and sales of VR-based hardware in the gaming sector, by component segment.
Based on Device Segment Analysis Mobile Sector dominate the Virtual Reality in Gaming Market.
On the basis of region, North America is anticipated to have a significant share in the virtual reality in gaming during the projected period.
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Key Offerings:
Market Size & Forecast by Revenue | 2020−2026
Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
Market Segmentation – A detailed analysis By Component Segment Analysis, By Device Segment Analysis, and By Regional Segment Analysis
Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis:
On the basis of region, North America is anticipated to have a significant share in the virtual reality in gaming during the projected period. The surge in the region is due to the presence of developed countries such as the U.S and Canada. Owing to the boost in the gaming industry and along with high demand of VR game is expected to drive growth for virtual reality in gaming market across the region.
By Region
North America
U.S.
Canada
Rest of North America
Europe
France
UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Rest of Asia Pacific
The Middle East & Africa
Saudi Arabia
South Africa
Rest of the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Competitive Landscape:
Microsoft Corporation (Washington, U.S.)
Facebook Gaming LLC (Oculus VR) (California, U.S.)
NVIDIA Corporation (California, U.S.)
HTC Corporation (Taoyuan City, Taiwan)
Unity Technologies (California, U.S.)
Magic, Inc Leap, Inc. (California, U.S.)
firsthand Technology Inc. (Washington, U.S.)
Apple Inc. (California, U.S.)
Sony Corporation (Tokyo, Japan)
Ubisoft Entertainment SA (Montreuil, France)
Recent Developments
May 2021 – HTC VIVE has released two new headsets: the HTC Vive Pro 2, which is designed to be connected to a personal computer, and the standalone HTC Vive Focus 3, which may be used alone. The company's main goal with the release of this brand-new product is to increase its market share in the immersive technology field.
April 2020 – NextVR, a virtual game business based in California, was recently bought by Apple Inc. It is anticipated that Apple's existing activities in the areas of gaming, sports, and entertainment will benefit from this acquisition. Also, the company is currently improving the quality of the video streams of its forty patients.
In March 2020, Verizon Communication US found that the amount of gaming traffic during peak hours had grown by 75% from the year before.
In June 2017, SensoMotoric Instruments, a company that specializes in eye-tracking systems, was recently bought by Apple Inc. This deal was made in order to help the virtual reality (VR) gaming business grow faster.
Report Scope
Report Attribute | Details |
Market Size in 2019 | USD 13.4 Billion |
Projected Market Size in 2026 | USD 90.7 Billion |
CAGR Growth Rate | 31.4% CAGR |
Base Year | 2019 |
Forecast Years | 2020-2026 |
Key Market Players | Microsoft Corporation (Washington, U.S.), Facebook Gaming LLC, Oculus VR(California, U.S.), NVIDIA Corporation (California, U.S.), Google, Samsung Electronics, Sony International, Apple Inc. (California, U.S.), Electronic Arts (EA), HTC Corporation (Taoyuan City, Taiwan), Unity Technologies (California, U.S.), Magic Inc, Oculus VR, Leap Motion Inc, firsthand Technology Inc. (Washington, U.S.), VirZOOM, Razer Inc, Ubisoft Entertainment SA (Montreuil, France), ZEISS International, and among others. |
Key Segment | By Component Segment Analysis, By Device Segment Analysis, and By Regional Segment Analysis |
Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Purchase Options | Request customized purchase options to meet your research needs. Explore purchase options |
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