The global virtual reality gaming market reached a value of US$ 10.3 Billion in 2018. Looking forward, the market is projected to reach a value of US$ 40.2 Billion by 2024, expanding at a CAGR of 25.5% during 2019-2024. Virtual reality gaming refers to applications where a person can experience being in a three-dimensional (3-D) environment and interact with it during a game. Virtual reality (VR) environments help the user in experiencing the game as reality. To generate realistic images, sounds and other sensations that simulate a user's physical presence in an imaginary world, virtual reality technology uses virtual reality headsets, game controllers and motion capture methods or multi-projected setup.
Global Virtual Reality Gaming Market: Drivers
- Virtual reality in gaming delivers 360 degrees vision, excellent sound, full immersion and increased realism to the gamer. The availability of controllers has also enhanced the interaction of users with virtual reality surroundings allowing gamers to control and modify the game environment according to their requirements.
- Virtual reality headsets still remain expensive for a common user. In order to overcome this challenge, companies have established gaming clubs or special areas at malls and business centers for children and adults to get familiar and try out these games. As a result, the consumer base of virtual reality games has been witnessing a strong growth.
- Driven by technological advancements, it is now possible to transform most of the computer games into a virtual reality format allowing users to experience new and better interaction. With the large variety of virtual reality headsets now available, companies are continuously launching new games and content.
- Based on the segment, the report has divided the market into software and hardware. Software currently represents the larger segment.
- On the basis of device, personal computers represent the largest segment, followed by the gaming consoles and mobile devices.
- Based on the age group, the market has been segregated into adults and children.
- On the basis of type of games, the market has been segregated into racing games, adventure games, fighting games, shooting games, mystery thriller games, puzzle games, science fiction games and others.
- Region-wise, the market has been categorised into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been examined with some of the key players being Fove, Google, HTC, Facebook, Razor, Samsung, Sony, Zeiss International, AMD, GoPro, Largan Precision, Nvidia and Qualcomm.
This report provides a deep insight into the global virtual reality gaming market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the virtual reality gaming market in any manner.
Key Questions Answered in This Report:
- How has the global virtual reality gaming market performed so far and how will it perform in the coming years?
- What are the key regions in the global virtual reality gaming market?
- Which are the popular segments in the global virtual reality gaming market?
- What are the key devices in the global virtual reality gaming market?
- What is the share of adults and children in the global virtual reality gaming market?
- What are the major types of games in the global virtual reality gaming market?
- What are the various stages in the value chain of the global virtual reality gaming market?
- What are the key driving factors and challenges in the global virtual reality gaming market?
- What is the structure of the global virtual reality gaming market and who are the key players?
- What is the degree of competition in the global virtual reality gaming market?