- Improving people’s disposable income is driving revenue growth in virtual reality gaming market
- Increasing demand for next generation VR gaming consoles North America drives the market
Wilmington, Del., September 16, 2022 /PRNewswire/ — The global virtual reality gaming market size is expected to reach $86.22 billion by 2031, according to an analysis by Transparency Market Research (TMR). Also, the study highlights that the market is expected to grow at a CAGR of 32.3% during the forecast period 2022-2031.
The TMR report performs an in-depth analysis of the major factors influencing the growth trajectory of the Gaming Virtual Reality market. As such, readers gain access to an assessment of the growth drivers, challenges, opportunities and R&D, as well as key insights into the future of VR gaming.
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Virtual reality in the gaming market: the most important results
- As the purchasing power of the population from developing and developed countries increases, this population increases the demand for innovative entertainment sources and VR gaming systems. This factor fuels sales opportunities in the global Virtual Reality Gaming market.
- Virtual reality gaming is an application in which users experience a three-dimensional (3D) environment in-game due to various interactive features and graphics provided in such types of devices. In recent years, the use of VR gaming accessories has increased significantly. This factor creates lucrative opportunities in the global virtual reality gaming industry.
- Cloud technology is gaining traction among players in the virtual reality gaming market. Cloud technology is increasingly being used by market players to provide users with an enhanced gaming experience. This advancement allows changes in game libraries and saves games to allow instant access to user profiles. Apart from that, it offers diverse features like unlimited storage capacity, live streaming and connected devices. Thus, the technology is helping to fuel the future of the online gambling industry.
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Virtual reality in the gaming market: growth drivers
- The improved purchasing power of people in developed and developing countries leads to profitable prospects in virtual reality in the gaming market
- The increasing adoption of latest technologies such as 3D effects, motion tracking and interactive graphics in games is driving the growth of the global in-game virtual reality market
Virtual Reality in the Gaming Market: Regional Analysis
- Market participants are expected to receive significant growth opportunities North America during the forecast period due to an increase in usage of next-generation VR gaming consoles equipped with next-generation technologies such as IoT, 3D graphics, cloud streaming and VR/AR, 8 THOUSANDand 4K resolutions
- Virtual reality is expected to open significant business opportunities in the gaming market Europe due to an increase in the adoption of virtual reality gaming in the nations of the Western Europe region
Virtual Reality in the Gaming Market: Competitive Landscape
- Players involved in the virtual reality gaming market are investing significant sums in R&D to create next generation products. Such activities also help companies to expand their product portfolio.
- Several companies are employing merger and acquisition strategies to solidify their virtual reality positions in the gaming market
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Virtual Reality in Gaming Market: Key Players
Some of the key players featured in the report are:
- bHaptic, Inc.
- apple inc
- Google LLC
- Electronic Arts Inc.
- Juego Studio Pvt. GmbH.
- HTC Corporation
- Microsoft Corporation
- Magic Leap, Inc.
- Nvidia Corporation
- Nintendo Co.,Ltd.
- Samsung Electronics Co.Ltd.
- Qualcomm, Inc.
- Survios, Inc.
- Sony Corporation
- Unity Technologies
- Tesla suit
- VirZoom Inc.
- Virtuix OBni
Virtual reality in gaming market segmentation
- end user
- North America
- Asia Pacific
- middle East & Africa
- South America
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About transparency market research
Transparency market research registered with Wilmington, Delaware, United States, is a global market research firm providing custom research and consulting services. TMR provides detailed insights into factors driving demand in the market. It reveals opportunities in various segments based on source, application, distribution channel and end-use that will fuel the growth of the market over the next 9 years.
Our data repository is continuously updated and revised by a team of research experts, so it always reflects the latest trends and information. With a broad research and analytical capacity, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive datasets and research material for business reports.
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