The ‘Global Virtual Reality Gaming Market Size, Share, Price, Trends, Analysis Industry Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global virtual reality gaming market, assessing the market on the basis of its segments like segments, devices, age groups, types of games, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
Virtual Reality Gaming Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): Over USD 20.60 Billion
- Forecast CAGR (2023-2028): 8%
In the virtual reality gaming market, adventure, simulation, and shooting games enjoy wide popularity as they feature extremely realistic settings and simulations and offer an authentic experience to gamers. The rising availability of such games on mobile devices is further adding to their popularity.
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Some of the key virtual reality gaming market trends include the development of high-performance PCs and game consoles, the surging number of professional gamers, and the increasing popularity of gaming among the millennial and Gen-Z population. The emergence of e-sports, coupled with the increasing demand for virtual reality entertainment, is also propelling the market.
With the surging preference for free-to-play VR games, key players are providing various in-game purchases, paid subscriptions, and battle passes, among others, to increase gamer engagement and enhance their profitability. Besides, the influx of users demanding engaging and immersive experiences is pushing leading companies to develop new VR games with improved simulations.
Virtual Reality Gaming Industry Definition and Major Segments
Virtual reality gaming, variously known as VR gaming, refers to computer games that utilise VR technology to provide a first-person perspective and immersive experience to users. Such games can be played on specialised gaming consoles, PCs and laptops, mobile phones, or standalone systems. Moreover, VR games can be played in multiplayer mode, and they are known to improve the cognitive intelligence and mental well-being of users.
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The market, on the basis of segment, is categorised into:
- Software
- Hardware
Based on device, the market is divided into:
- Personal Computers
- Gaming Consoles
- Mobile Devices
By age group, the virtual reality gaming market is bifurcated into:
- Adults
- Children
The various types of games considered in the market report are:
- Racing
- Adventure
- Fighting
- Shooting
- Mystery Thriller
- Puzzle
- Science Fiction
- Others
The major regional markets of virtual reality gaming include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Virtual Reality Gaming Market Trends
There is a growing use of virtual reality devices, including hand controllers, VR headsets, and sensor-equipped gloves, in gaming to provide an immersive experience to gamers. Such devices are increasingly available at affordable prices, which is further boosting their mass adoption. Moreover, key players are leveraging innovative technologies to improve features such as haptic feedback and eye tracking in VR devices and make gaming more immersive.
Innovations and advancements in digital technology aimed at bridging the gap between the virtual and real world are expected to drive the virtual reality gaming market development. In addition to this, the growing smartphone ownership and the emergence of 5G networks, especially in developing countries, are expected to boost the popularity of virtual reality games requiring low bandwidth and high latency in the forecast period.
Key Market Players
The major players in the virtual reality gaming market report are
- Fove, Inc
- HTC Corporation
- Razer Inc.
- Samsung Electronics Co., Ltd.
- Advanced Micro Devices, Inc
- Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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