According to the latest report by IMARC Group, titled “Virtual Reality Gaming Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global virtual reality gaming market reached a value of US$ 10.3 Billion in 2018. Virtual reality (VR) gaming is a combination of computer games with a three-dimensional, artificial environment. These environments are created for superseding the real-world environment by using a VR software. VR gaming is different from augmented reality (AR) gaming which involves the amalgamation of the digital content with the real-world environment of the user. Generally, the simpler versions of VR games include a 3-D image which can be explored interactively on a computing device with the help of a touchscreen, mouse or keys, whereas, the more immersive and sophisticated versions might involve wrap-around displays, VR headsets and VR rooms having wearable computers and other sensory components.
Market Trends:
Virtual reality gaming is gaining traction in various developing regions such as Mexico, India and Brazil on account of increasing disposable incomes of the consumers as well as easy availability of VR-enabled games. Another trend which is contributing towards the escalating demand for VR gaming is the rising popularity of 360-degree videos. These videos allow the viewers to watch through every angle along with an option to rotate and pan them as per the requirement. Moreover, numerous start-ups are introducing new three-dimensional features in virtual reality gaming. For instance, they have developed games which enable the user to move around and interact with the objects in it. However, high initial investment, spatial discomfort and the risk of other physical and mental ailments are the major hindrances faced by the market. Despite these hindrances, the market is projected to reach a value of US$ 40.2 Billion by 2024, expanding at a CAGR of around 25.5% during 2019-2024.
Market Summary:
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us
IMARC Group
USA: +1-631-791-1145
Email: sales@imarcgroup.com
Website: https://www.imarcgroup.com
Follow us on twitter : @imarcglobal
REACH OUT TO US
Call us on
( US: +1-631-791-1145 )
( UK: +44-702-409-7331 )
( India: +91-120-433-0800 )
Drop us an email at
sales@imarcgroup.com