Virtual Reality Gaming Market: Global Industry Trends, Growth, Analysis and Forecast Till 2023

Global Virtual Reality Gaming Market Report, Growth, and Forecast Till 2023

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Report Description and Highlights

Report Description

Virtual Reality Gaming Market Report By Segment (Software and Hardware), Device (Personal Computers, Gaming Consoles and Mobile Devices), Age Group, Type Of Games, Region The global virtual reality gaming market has witnessed a positive growth over the past few years. The growth is being impacted by factors such as increasing awareness across developing regions, rising popularity of 360-degree videos.

Market Overview: According to the latest report by IMARC Group, titled “Virtual Reality Gaming Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global virtual reality gaming market reached a value of US$ 8.2 Billion in 2017. 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 realworld 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.

Report Description and Highlights

Report Description 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 VRenabled 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 startups 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$ 32.8 Billion by 2023, expanding at a CAGR of around 26% during 2017-2023.

Virtual Reality Gaming Market Segmentation: Market Breakup by Segment • •

Software Hardware

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Market Forecast

Sample Figure: Global: Virtual Reality Gaming Market Forecast: Sales Value (in Billion US$), 2018-2023

184.3

191.7

199.3

207.3

2018

2019

2020

2021

215.6

224.2

2022

2023

Market Segmentation

Report Description

On the basis of segments, the market has been bifurcated into hardware and software. Amongst these, hardware represents the leading segment, accounting for the majority of the total market share.

Market Breakup by Device • • •

Personal Computers Gaming Consoles Mobile Devices

The global virtual reality gaming market has been segmented on the basis of devices as personal computers, gaming consoles and mobile devices. Currently, personal computers are the most popular device on account of their advantages like availability of high-end displays and sound systems which offer enhanced experience to the user.

Market Breakup by Age Group • •

Adults Children

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Market Segmentation

Report Description

The virtual reality gaming market analysis has also been done on the basis of age groups which include adults and children. Currently, adult gamers hold the majority of the market share on account of increasing internet penetration.

Market Breakup by Types of Games • • • • • • • •

Racing Games Adventure Games Fighting Games Shooting Games Mystery Thriller Games Puzzle Games Science Fiction Games Others

Based on type of games, the market has been divided into racing games, adventure games, fighting games, shooting games, mystery thriller games, puzzle games, science fiction games and others. Nowadays, racing games are the most preferred type of games amongst all age groups.

Market Segmentation by Region

Regional Segmentation

North America

Europ e

Asia- Pacific

Latin America

Middle East and Africa

Market Segmentation

Report Description • • • • •

North America Europe Asia Pacific Latin America Middle East and Africa

On a geographical front, North America currently dominates the market owing to an increase in the demand for interactive gaming coupled with easy availability of these devices in the region. North America is followed by Europe, Asia Pacific, Middle East and Africa, and Latin America.

Competitive Landscape: The competitive landscape of the market has also been examined with some of the key players.

• • • • • •

Fove Google HTC Facebook Razer Samsung

Market Segmentation

Report Description • • • • • • •

Sony Zeiss International AMD GoPro Largan Precision Nvidia Qualcomm

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Report Description and Highlights

Report Description

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