Virtual Reality in Gaming Market – Introduction of Advanced Gaming Consoles & Other Devices is Expected to Lead the Market Growth – Growing at a CAGR (Compound Annual Growth Rate) 30.5% from 2022 to 2028

Virtual Reality in Gaming
  • Virtual Reality in Gaming Market

As stated in our extensive report; the Global Virtual Reality in Gaming Market accounted forUSD 7.5 Billionin 2021.

The overall Virtual Reality in Gaming Market will elevate rapidly during the forecast period owing to the increased adoption of advanced virtual reality hardware and accessories among gamers. VR in gaming creates a realistic representation of gameplay, making it more intuitive and productive for players. The 3D gaming glasses help to get the feeling of real presence in five factors: interaction, immersion, real-time, emotions, and cognitive science.

A rise in small and start-up companies is entering the market through innovative software and content offerings. Also, cloud-based gaming technology, advancements in 5G technology, and creative gaming content are some main drivers of the industry.

Key factors influencing Virtual Reality in Gaming Market Growth

The growth of the Global Virtual Reality in Gaming Market can be attributable to the following:

  1. The surge in demand for superior gaming consoles enabled technologies like AR & VR, cloud streaming, the Internet of Things (IoT), higher resolutions, and 3D graphics acts as main market drivers.
  2. Increasing usage of a three-dimension environment, the growing demand for the latest technology in the gaming industry, and emerging easy and compact virtual reality gaming devices are boosting the expansion of this market.
  3. Improved graphics performance will propel the market demand for Virtual Reality in Gaming in the coming years as graphics play a crucial part in contributing to realistic gaming experiences.
  4. Introducing new technologies, such as 3D effects and interactive graphics, gives users real-time experience in gameplays and VR walking platforms, and this is expected to propel market growth.
  5. Top market players are investing majorly in the research and development area to improve optical gaming devices based on this technology, which will likely provide growth prospects for the Virtual Reality in Gaming Market in the forecast period.

On the other hand, the prolonged use of Virtual Reality in Gaming can negatively impact the health of gamers, which might hinder future Virtual Reality in Gaming Market growth.

North America Region to Capture the Market

North Americaholds the most considerable market revenue in theVirtual Reality in Gaming Market and is projected to continue during the forecast period. This surge is due to the growth of core technology such as augmented reality (AR) & virtual reality (VR), 3D audio, 5G, advanced graphics, etc. The United States is also contributing to a major market share and observing high deployment owing to the early adoption of novel technologies and related consumer preferences. Furthermore,the market expansion is propelled by the presence of top companies like Google LLC, Leap Motion Inc., Microsoft Corporation, Electronic Arts Inc., Facebook Technologies LLC, and others in this region. These market players in this region focus more on investing in developing advanced hardware & software, which will fuel this region's Virtual Reality in Gaming Market sales.

Conclusion

As per our recent research report, the high demand for superior gaming consoles enabled technologies like augmented and virtual reality, 3D graphics, higher resolutions, the Internet of Things, and cloud streaming has positively influenced the overall Virtual Reality in Gaming Market sales.

Some of the key players in the Global Virtual Reality in Gaming Marketinclude- bHaptics Inc. (South Korea), Facebook Technologies, LLC./Oculus (US), Google VR (US), HTC Corporation (Taiwan), SAMSUNG Electronics Co. Ltd. (South Korea), Sony Interactive Entertainment LLC (US), TESLASUIT/ VR Electronics Limited and others.