The Global Virtual Reality In Gaming Market Research Report is highly intended to offer robust acumen considering industry to aid a market contender with insightful analysis for Biofuels market size, share, competitive scenario, segments, sub-segments, and dominant industry competitors. The report focuses on the historic and current situation of the market to provide valuable forecast analysis based on sales revenue, global demand, and growth rate of the market.
Virtual reality (VR) in the gaming market was valued at USD 7.7 billion in 2019 and is projected to reach USD 42.50 billion by 2025, registering a CAGR of 32.75% over the forecast period, 2020 – 2025.
Top Key Players in the Global Virtual Reality In Gaming Market: Oculus VR (Facebook Technologies LLC), HTC Vive, Valve Corporation, Intel Corporation, Virtuix Omni, Nintendo Co Limited, Microsoft Corporation, Samsung Corporation, Google LLC.
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VR technology has gained widespread recognition and adoption over the past few years. Recent technological advancements in this field have revealed new enterprises. Numerous players are emerging in this market with the hopes of navigating it toward mainstream adoption in the gaming market space. According to NewGenApps, by 2025, the worldwide user base of AR and VR games is expected to grow to 216 million users.
– VR gaming involves a 3D environment that enables the user on a computing device with the help of a mouse, touch screen, other components to feel the physical presence in the game settings. The various accessories associated with the VR technology such as virtual reality headsets, wrap-around display screens, virtual reality rooms equipped with wearable computers, and sensory components enables gamers to interact, view and move around the objects in the game setting. According to a worldwide survey of technology company executives, startup founders, investors, and consultants, 59% of respondents believe gaming will dominate the investment directed to the development of VR technology.
– Moreover, VR gaming provides interaction and communication to gamers in the game environment, which is attracting more children’s and gamers, thus driving the growth of the market. According to 3Dinsider, moe than 64% of active VR users believes that gaming has the biggest potential to benefit from advances in VR technology.
– Further, the market is creating various jobs related to VR gaming, such as game designers, producers, programmers, artists, as well as business, sales, and marketing roles. According to 3Dinsider, between 2015 and 2018, job postings for designers, programmers, and artists for VR games have risen, accounting for 93%.
– VR headset is gaining traction across the market due to its specific application for games such as HTC Vive and the PlayStation VR. For instance, in March 2019, Sony announced it had sold more than 4.2 million PlayStation VR headset worldwide.
– With the recent outbreak of the COVID-19, the market for VR gaming is witnessing a significant increase in adoption as most of the country’s have enforced lockdown, and people are spending their time on VR gaming amid this lockdown.
– Many VR gaming providers, such as HTC Viveport, are giving many features to make people stay at home and play them instead of going out. For instance, Viveport Infinity’s annual subscription is 75% off, taking it down from USD 107.88 per year to USD 27.
– In April 2020, UTSA researchers launched the first worldwide Accessibility VR Game Jam, which is accessible to gamers with disabilities. But due to COVID-19, they worked to quickly to migrate the game jam to an online-only environment.
– May 2020 – Apple Inc. acquired NextVR, a startup that provides sports and other content for virtual-reality headsets. The acquisition will help Apple’s development of VR and AR headsets with accompanying software and content.
– February 2020 – Facebook has acquired Bay Area VR studio Sanzuru Games. The acquisition will help Facebook to explore the VR game studios, as Sanzuru Games has created a total of four titles for the Oculus Rift, including Asgards Wrath and Marvel Powers United VR. Also, it has made a number of titles on console and mobile systems, releasing games structured around their own IP alongside licensed titles for properties like Sonic and Spyro.
Regional Analysis for Market:
For a comprehensive understanding of market dynamics, the global Virtual Reality In Gaming market is analyzed across key geographies namely: United States, China, Europe, Japan, South-east Asia, India, and others. Each of these regions is analyzed on the basis of market findings across major countries in these regions for a macro-level understanding of the market.
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Asia-Pacific Region to Witness Significant Growth
– Asia-Pacific is expected to hold a significant share owing to the presence of large and several emerging economies such as India, China, among others, along with the rising acceptance of virtual reality devices in the region. This is, in turn, expected to encourage industry players to invest in VR gaming in the region.
– Due to the rising adoption of VR technology in the country, China is expected to account for a prominent share in the region. Also, the Chinese market for VR is expected to increase due to increased policy support from the government as well as rolling out of technologies such as 5G in the country. According to the industry regulator, China’s virtual reality (VR) market is forecast to expand to USD 7.9 billion by 2021.
– Also, many players in the region are building new games with more realistic in-game features that are driving the market. For instance, in July 2019, Hong Kong’s startup Sandbox VR created hyperrealistic virtual reality games. It has experimented with location-based VR gaming.
– The region is witnessing many investment and development in the R gaming market space. For instance, in August 2019, Beijing-China’s online and mobile game developer Yunyou Holdings, which is listed in Hong Kong, acquired the virtual reality startup Beijing Xigua Huyu Entertainment Technology to expand its product line.
– Also, in January 2020, Virtuleap has launched the Enhance VR brain training app in China in partnership with the HTC Viveport China team. Enhance VR offers a daily workout of mini-games designed to assess and train different cognitive skills such as memory, problem-solving, flexibility, and speed, as well as motor skills, spatial orientation, and spatial audio awareness.
Table Of Content:
Overview: This segment offers an overview of the report to provide an idea regarding the contents and nature of the research report along with a wide synopsis of the global Virtual Reality In Gaming Market.
Analysis of Leading Players Strategies: Market top players can utilize this analysis to increase the upper hand over their rivals in the market.
Study on Major Market Trends: This segment of the report delivers a broad analysis of the most recent and future market trends.
Forecasts of the Market: The report gives production, consumption, sales, and other market forecasts. Report Buyers will approach exact and approved evaluations of the total market size in terms of value and volume.
Analysis of Regional Growth: This report covered all major regions and countries. The regional analysis will assist market players to formulate strategies specific to target regions, tap into unexplained regional markets, and compare the growth of all regional markets.
The research includes historic data from 2015 to 2020 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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