Press release
Virtual Reality in Gaming Market : North-America Accounted For Largest Market Share Followed By APAC, Forecast 2023
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.
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.
Market Research 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.
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Target Audience:
Manufacturers
Distributors
Research firms
Software Developers
Vendors
Semiconductor Manufacturers
Technology Investors
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. Key Players:
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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BRIEF TOC:
EXECUTIVE SUMMARY
RESEARCH METHODOLOGY
MARKET DYNAMICS
MARKET SEGMENTATION
REGIONAL MARKET ANALYSIS
COMPETITIVE ANALYSIS
CONCLUSION
LIST OF TABLES
LIST OF FIGURES
The report for Virtual Reality in Gaming Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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About Us:
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 products, services, technologies, applications, end users, and market players for , 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.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Media Contact:
Akash Anand,
Market Research Future
Pune – 411028
Maharashtra, India
Phone No. :+1 646 845 9312
Email: sales@marketresearchfuture.com
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