Virtual Reality In Gaming Market Size, Trends And Global Growth Report 2024-2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Virtual Reality In Gaming Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $55.21 billion In 2028 At A CAGR Of 29.5% :

The virtual reality in gaming market size has grown exponentially in recent years. It will grow from $15.26 billion in 2023 to $19.62 billion in 2024 at a compound annual growth rate (CAGR) of 28.5%. The growth in the historic period can be attributed to consumer demand for immersive experiences, growth of high-end gaming platforms, content development and game titles, enhanced hardware capabilities.

The virtual reality in gaming market size is expected to see exponential growth in the next few years. It will grow to $55.21 billion in 2028 at a compound annual growth rate (CAGR) of 29.5%. The growth in the forecast period can be attributed to emergence of cloud gaming platforms, focus on social and multiplayer gaming, innovation in input devices and controllers. Major trends in the forecast period include storytelling and narrative-driven VR games, VR fitness and wellness gaming, user-generated content and modding, integration of haptic feedback technology, VR game streaming and subscription services.

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Virtual Reality In Gaming Market Major Segments
The virtual reality in gaming market covered in this report is segmented -

1) By Component: Software, Hardware
2) By Types Of Games: Racing, Adventure, Fighting, Shooting, Mystery Thriller, Puzzle, Science Fiction, Other Types
3) By Device: Personal Computers, Gaming Consoles, Mobile Devices
4) By End-User: Commercial Space, Individual

Key Driver - Virtual Reality's Surge In Gaming Market Driven By Increased VR Device Adoption

The increase in adoption of VR devices is driving the growth of virtual reality in the gaming market going forward. Virtual reality systems create a virtual experience that appears to be real, allowing the user to interact with the 3D world and feel the scenes and objects as if they were real. In the latest generation of computer games, VR devices are employed to make the players feel immersed in the game. For instance, in August 2023, according to the report by Statista, the German-based online platform that collects and visualizes data, the market size for virtual reality head-mounted displays (HMDs) in 2020 amounted to $5.5 billion. Subsequently, the adoption of VR devices witnessed significant growth, with projections indicating an ascent to $18.6 billion by 2026. Notably, approximately 5.5 million units of augmented and virtual reality devices were slated for shipment in 2020. Therefore, the increasing adoption of VR devices is expected to propel the growth of virtual reality in the gaming market in the coming years.

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Prominent Trend - The Evolution Of Virtual Reality In Gaming With 5G Cloud Integration

5G-based VR cloud games are shaping virtual reality in the gaming market. 5G VR cloud is a combination of cloud, virtual reality, and 5G connectivity in gaming. Major companies operating in virtual reality in the gaming sector are focused on developing 5 G-based VR cloud games to offer customers low latency and high bandwidth services. For instance, in December 2023, Xbox Cloud Gaming, a US-based cloud gaming service offered by Microsoft, partnered with Meta, a US-based multinational technology company, to introduce a versatile gaming experience. This collaboration expands gaming accessibility across different platforms and harnesses fast 5G connections, anticipating a boost in 5G-based VR cloud games, offering users AAA-quality gaming experiences.

Virtual Reality In Gaming Market Players
Major companies operating in the virtual reality in gaming market report are Alphabet Inc., Samsung Electronics Co Ltd., Microsoft Corporation, Facebook Technologies LLC, Intel Corporation, Qualcomm Inc., Sony Interactive Entertainment LLC, Advanced Micro Devices Inc., Nvidia Corp, Nintendo Co Ltd., ZEISS Group AG, Valve Corporation, Electronic Arts Inc., Epic Games Inc., Razer Inc., Unity Software Inc., Sixense Enterprises Inc., HTC Corporation, Pimax Innovation Inc., Varjo Technologies Oyj, Oculus HR Ltd., Starbreeze Studios AB, Vuzix Corporation, Subpac Inc., Virtuix Inc., bHaptics Inc., Sensics Inc., Manus VR B.V., Fove Inc., Kaneva LLC, TPCAST Technology Inc., Infinadeck Corporation, Dexta Robotics Corporation Limited, Teslasuit Inc., YUR Inc.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the virtual reality in gaming market in 2023. The regions covered in the virtual reality in gaming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Virtual Reality In Gaming Market Report Structure
3. Virtual Reality In Gaming Market Trends And Strategies
4. Virtual Reality In Gaming Market - Macro Economic Scenario
5. Virtual Reality In Gaming Market Size And Growth
…..
27. Virtual Reality In Gaming Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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