Press release
Virtual Reality in Gaming Market 2017-2023 with High CAGR 30.5% by Top Key Players: Sony, HTC, Google, Oculus VR, ZEISS International, LEAP MOTION
Market Highlights:
The virtual reality market is highly competitive and consists of major players including Samsung Electronics, Sony, and Google. Several companies are investing in their research and development division to come up with innovative technological products. Therefore, rapid increase in awareness of VR technology by the company and increasing demand of the consumers is expected to boost the virtual reality in gaming market.
Virtual reality gaming is a form of application which uses three-dimensional artificial environment and interact with that three-dimensional environment during a game. The artificial environments are created with virtual reality software.
The factors contributing to the growth of the Virtual Reality Gaming Market are the use of three-dimensional environment, developing compact and comfortable virtual reality gaming devices, increasing demand for latest technologies in the gaming industry, rise in disposable income and constant innovation by virtual reality manufacturers. However, factors such as lack of awareness about the technology, limitations of hardware and software among the virtual reality devices and compatibility issues are hindering the growth of the virtual reality in gaming market.
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The virtual reality in gaming market is driven by multiple factors such as increasing disposable income, advanced technological solutions such as three-dimensional environment and increasing demand by consumers for new type of entertainment. However, factors such as health-related issues and lack of awareness about the technology are inhibiting the growth of the virtual reality inn gaming market. Therefore, according to MRFR analysis, gesture devices and motion tracking devices are expected to be launched in the market. Also, the advent in the gaming software is boosting the overall gaming industry.
Global Virtual Reality In Gaming Market is expected to reach approximately USD 14.6 billion by the end of 2023 with 30.5% CAGR during forecast period 2017-2023
Virtual Reality in Gaming Market:
According to Market Research Future, market has been segmented into hardware, software, application and region.
Hardware-
• Devices
• Glasses
• Gloves
• Headsets
• Others
Software-Compatibility
• MMOs
• Smartphones
• Casual Web games
• Box PC
• Tablets
• Consoles
• Others
Region
• North-America
• Europe
• Asia-Pacific
• RoW
Out of these application, casual web and consoles contributes largely to the virtual reality in gaming market majorly due to adoption of artificial simulation in video games. For instance, various gaming consoles such as PlayStation 4 among others are replacing the traditional gaming consoles.
Major Key Players:
The key players in the global virtual reality in gaming market include Electronic Arts Inc (U.S.), Google (U.S.), Newzoo (Netheralnds), HTC Corporation (Taiwan), Oculus VR, LLC (U.S.), Kaneva (U.S.), SAMSUNG (South Korea), Sony Corporation ( Japan), ZEISS International (Germany), LEAP MOTION, INC. (U.S.), VirZOOM, Inc (U.S.) among others.
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Market Research Future Analysis:
The global virtual reality in gaming market is expected to grow significantly over the forecast period, 2017-2023. Software segment of virtual reality market expected to grow at a fast pace majorly due to up gradation in the software solutions and increasing number of developers the market is expected to have higher growth rate as compared to the previous years.
Asia-Pacific region expected to grow at a fast pace over the forecast period, 2017-2023 majorly due to high implementation of new technologies, large number of market players, growing demand for electronic gadgets among youngsters are the factors contributing to the growth of the market. Countries such as China, Japan are implementing virtual reality in gaming sector because of low market penetration rate.
Also, the companies such as Sony Corporation, Nintendo Co. Ltd in the Asia-Pacific region contributes largely to the overall market share. Product innovation is the key strategy which is followed by industry leaders. For example, Sony Corporation, named as Project Morpheus Virtual Reality introduced a new head mounted display device for tracking accuracy and high resolution.
Regional Analysis:
Regionally, North-America accounted for the largest market share, owing to decreasing average prices of the devices, increasing competition among developers, increasing consumer preference for smart gadgets and increasing demand for new technologies in the gaming industry by the youngsters.
However, Asia-Pacific region is expected to grow over the forecast period, 2017-2023. The reason is attributed to technological developments, need for better picture quality and growing demand for electronic gadgets.
Intended Audience:
• Manufacturers
• Distributors
• Research firms
• Software Developers
• Vendors
• Semiconductor Manufacturers
• Technology Investors
Table Of Contents
1 Market Introduction
1.1 Introduction
1.2 Scope Of Study
1.2.1 Research Objective
1.2.2 Assumptions
1.2.3 Limitations
1.3 Market Structure
2 Research Methodology
2.1 Research Network
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
Continue...
List Of Tables
Table 1 Virtual Reality In Gaming Market, By Compatibility
Table 2 Virtual Reality In Gaming Market, By Hardware
Table 3 Virtual Reality In Gaming Market, By Software
Continue...
List Of Figures
Figure 1 Research Methodology
Figure 2 Virtual Reality In Gaming Market, By Compatibility (%)
Figure 3 Virtual Reality In Gaming Market, By Hardware (%)
Continue...
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
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