Reports and Insights (R&I) has published a new report titled, “Virtual Reality in Gaming Market: Opportunity Analysis and Future Assessment 2020-2028”
Global Virtual Reality In Gaming Market, By Components (Hardware, Software), By Connecting device (Gaming Console, PC/Desktop, Smartphones), By Users (Commercial Space, Individual), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The virtual reality in gaming market is estimated to reach at a value of 63.6 Bn by the end of 2022 and expected to reach at a value of US$ 523.1 Bn by 2030 with a significant CAGR of 30.2%.
VR gaming or virtual reality technology in the gaming sector is the fresh modification in computer games which makes it a new generation computer game. The novel virtual reality technology in the gaming industry offers its players an extremely captivating first-person perspective of game action along with fascinating and realistic simulation of a three-dimensional environment in a way that overrides the real environment. Because of which, the VR gaming is gaining massive traction all around the global markets, which in turn is projected to escalate the growth of the global virtual reality in the gaming market exponentially over the coming years.
By the same token, the advent of several innovative products and devices along with the penetration of virtual reality technology in the gaming industry, such as head-mounted display (HMDs) devices together with bodysuits, gloves among others, which is further successfully gaining much more popularity and attention among the young consumers. Attributable to which, the global virtual reality in the gaming market is expected to grow substantially over the forecast period.
However, device compatibility and associated factors are likely to act as restraining factors for the future growth of the global VR gaming industry. Nevertheless, the fresh virtual reality technology has the potential to drastically transform the entire gaming industry by improving customer experience and maximizing business profits. Based on which, the global virtual reality in the gaming market is anticipated to witness significant growth in the forthcoming future.
R&I Study identifies some of the key participating players in the virtual reality in the gaming market globally are bHaptics, Inc., Facebook Technologies, LLC./ Oculus, Google VR, HTC Corporation, SAMSUNG ELECTRONICS CO., LTD., Sony Interactive Entertainment LLC, TESLASUIT/VR Electronics Limited, among others.
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