Virtual Reality (VR) in Gaming Market 2021 Net Worth is US$ 53.44 billion and Forecasts by 2028 | With Key Players are: Microsoft Corporation, Facebook LLC (Oculus VR), Nvidia Corporation, HTC Corporation, Unity Technologies....

Virtual Reality (VR) in Gaming Market 2021-2028

New study report " Virtual Reality (VR) in Gaming Market 2021 Global Market Opportunities, Challenges, Strategies, and Forecasts 2028" has been added to Fortune Business Insights.

Market Overview:

The global virtual reality (VR) in gaming market size was USD 6.26 billion in 2020. The market is projected to grow from USD 7.92 billion in 2021 to USD 53.44 billion in 2028 at a CAGR of 31.4% in the 2021-2028 period. This information is published by Fortune Business Insights™ in its report titled, “Virtual Reality (VR) in Gaming Market, 2021-2028.”

According to our researchers, all the advances in 5G technology, pioneering gaming content, and cloud-based gaming technology are a few of the important driving forces of the market. Additionally, as a part of the corporate tactic, crucial players are introducing innovative hardware and gadgets.

For example, in March 2019, Oculus VR introduced Oculus Rift S, which is a progressive VR head-mounted demonstration gadget. All VR-powered games obtainable on the unique Rift can be operated smoothly on the Rift S. This is expected to boost the virtual reality (VR) in gaming market growth during the forecast period.

Top Key Players in this market are:

Microsoft Corporation (Washington, U.S.)
Facebook LLC (Oculus VR) (California, U.S.)
Nvidia Corporation (California, U.S.)
HTC Corporation (Taoyuan City, Taiwan)
Unity Technologies (California, U.S.)
Magic 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)


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COVID-19 Impact-

The COVID-19 epidemic has badly damaged the global retail business. The epidemic and the ensuing lockdown have profoundly impacted consumer behavior, product demand, and in-store operations. According to the Tata Communication study, US expenditure would fall by 7.5 percent in March 2020. As a result of the steep decline, retailers prioritize using artificial intelligence technologies to boost online sales and improve consumer experiences. Artificial intelligence is assisting retailers in realigning supply chains, recognizing dynamic demand, and understanding new market patterns, among other things, which, in turn, can spur opportunities for the market.

Competitive Landscape-

Important Players Focus on Fortifying their Market Positions with Continuous Developments

The significant players in the gaming industry are fixated on emerging prototypes for software, gaming hardware, and content. The players are financing in building progressive virtual reality headsets to provide immersive and communicating gaming encounters to the gamers. Similarly, the prominent players are participated in several procurements, collaborations, partnerships, and unions to magnify the market manifestation. For example, in June 2017, Apple, Inc. attained SensoMotoric, which is an instrument supplier company of eye-tracking solutions.

Segmentation-

On the basis of components, the market is segregated into hardware, software, and content. In terms of region, the market is bifurcated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

On the basis of devices, the market is classified into mobile, console/PC, and standalone. Console/PC is projected to lead the market by holding the majority of the shares in the foreseeable future.

Regional Insights-

North America to Dominate Backed by Introduction of Advanced Technologies

North America held the maximum virtual reality (VR) in gaming market shares and is anticipated to lead the market share in 2020. The growth in this region is owing to the introduction of fundamental techniques such as augmented reality (AR), 5G, virtual reality, 3D audio, advanced graphics, among others.

Europe is estimated to grow expressively owing to the growing demand for virtual reality devices in gaming events in leading nations such as Germany, Spain, Italy, and others. These competitions are centered on progressive games with built-in virtual reality technology.

Asia Pacific is estimated to grow with the maximum CAGR during the mentioned time period. Developing nations such as India, China, South Korea, and Indonesia are likely to support the growth of the market in this region.

Report Coverage

The report delivers a thorough study of the segments and a comprehensive analysis of virtual reality in gaming industry. A thoughtful assessment of the contemporary market trends as well as the future opportunities are offered in the report. It further shares an exhaustive examination of the regional insights and their function in shaping the market growth. The COVID-19 impacts have been revealed to the report to aid shareholders and business professionals to comprehend the risks and draw out a strategy to tackle them. It further focuses on the important players and their significant tactics to maintain their leading positions.

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Table Of Content:

Introduction
Definition, By Segment
Research Methodology/Approach
Data Sources
Key Takeaways
Market Dynamics
Macro and Micro Economic Indicators
Drivers, Restraints, Opportunities and Trends
Impact of COVID-19
Short-term Impact
Long-term Impact
Competition Landscape
Business Strategies Adopted by Key Players
Consolidated SWOT Analysis of Key Players
Global Virtual Reality (VR) in Gaming Key Players Market Share Insights and Analysis, 2020

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