Leading Companies in Virtual Reality in Gaming Market are Microsoft Corporation, Facebook LLC, Nvidia Corporation, HTC Corporation, Unity Technologies, Magic Leap, Inc., Firsthand Technology Inc., Apple Inc., Sony Corporation, Ubisoft Entertainment SA

Pune, India, Sept. 22, 2021 (GLOBE NEWSWIRE) -- The global virtual reality in gaming market size was USD 6.26 billion in 2020. The market is projected to grow from USD 7.92 billion in 2021 to USD 53.44 billion in 2028 at a CAGR of 31.4% in the 2021-2028 period. This information is published by Fortune Business Insights™ in its report titled, “Virtual Reality (VR) in Gaming Market, 2021-2028.”

According to our researchers, all the advances in 5G technology, pioneering gaming content, and cloud-based gaming technology are a few of the important driving forces of the market. Additionally, as a part of the corporate tactic, crucial players are introducing innovative hardware and gadgets.

For example, in March 2019, Oculus VR introduced Oculus Rift S, which is a progressive VR head-mounted demonstration gadget. All VR-powered games obtainable on the unique Rift can be operated smoothly on the Rift S. This is expected to boost the virtual reality (VR) in gaming market growth during the forecast period.

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List of Key Players in Virtual Reality in Gaming Market:

• Microsoft Corporation (Washington, U.S.)
• Facebook LLC (Oculus VR) (California, U.S.)
• Nvidia Corporation (California, U.S.)
• HTC Corporation (Taoyuan City, Taiwan)
• Unity Technologies (California, U.S.)
• Magic Leap, Inc. (California, U.S.)
• Firsthand Technology Inc. (Washington, U.S.)
• Apple Inc. (California, U.S.)
• Sony Corporation (Tokyo, Japan)
• Ubisoft Entertainment SA (Montreuil, France)

Report Scope & Segmentation

Report Coverage	Details
Forecast Period	2021 to 2028
Forecast Period 2021 to 2028 CAGR	31.4%
2028 Value Projection	USD 53.44 Billion
Base Year	2020
Market Size in 2020	USD 6.26 Billion
Historical Data for	2017 to 2019
No. of Pages	130
Segments covered	Component, Device and Geography
Growth Drivers	Increasing Demand for VR Gaming amid Pandemic to Thrust Market Prospect
	Launch of Unconventional Gaming Accessories and Devices to Fuel Market Growth
	North America to Dominate Backed by Introduction of Advanced Technologies

Increasing Demand for VR Gaming amid Pandemic to Thrust Market Prospect

The COVID-19 pandemic obstructed the global economy of every industry. In the early period of the pandemic, a substantial deterioration was witnessed in general sales of VR gaming devices and gadgets. The closure of industrial divisions majorly crushed the production scale of hardware in the gaming industry. Likewise, the investment picture and other commercial tactics were put to a temporary freeze owing to the absence of functionality.

Nevertheless, the general gaming industry is anticipated to increase with a substantial CAGR during the forecast period. The primary statistics displayed a sharp upsurge in sales and playing interval of online games amid and post lockdown. For example, in March 2020, Verizon Communication US documented a 75% escalation in gaming traffic during top hours.

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Report Coverage

The report delivers a thorough study of the segments and a comprehensive analysis of virtual reality in gaming industry. A thoughtful assessment of the contemporary market trends as well as the future opportunities are offered in the report. It further shares an exhaustive examination of the regional insights and their function in shaping the market growth. The COVID-19 impacts have been revealed to the report to aid shareholders and business professionals to comprehend the risks and draw out a strategy to tackle them. It further focuses on the important players and their significant tactics to maintain their leading positions.

Segmentation

On the basis of components, the market is segregated into hardware, software, and content. In terms of region, the market is bifurcated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

On the basis of devices, the market is classified into mobile, console/PC, and standalone. Console/PC is projected to lead the market by holding the majority of the shares in the foreseeable future.

Drivers and Restraints

Launch of Unconventional Gaming Accessories and Devices to Fuel Market Growth

The surging demand for innovative gaming consoles facilitated with technologies such as 4K and 8K resolution, AR/VR, IoT, cloud steaming, 3D graphics, and others is one of the crucial driving factors. Similarly, the increasing demand for virtual reality accessories such as head-mounted displays, motion-sensing devices, gloves, treadmills, masks, bodysuits, 3D headphones, and bag packs is projected to enhance the market growth. Several significant companies in the gaming industry, such as Microsoft Corporation and Sony Corporation, among others, are concentrating on introducing advanced gaming consoles and accessories built on VR proficiencies. For example:

• In January 2020, Sony Corporation confirmed the introduction of PlayStation 5 in the forthcoming year. This presentation is anticipated to augment the implementation of virtual reality in the gaming sector.
• Likewise, in April 2021, Sony Corporation proclaimed the unveiling of its new-generation PlayStation VR for PS5 in the upcoming year. The freshly introduced PSVR2 shall function on a solo cord association in order to decrease the playing clutter. 

Moreover, vital companies are considerably financing in the research and development section for the improvement of optical gaming devices grounded on virtual reality technology. This is expected to bolster the market growth during the mentioned timeframe.

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Regional Insights

North America to Dominate Backed by Introduction of Advanced Technologies

North America held the maximum virtual reality (VR) in gaming market shares and is anticipated to lead the market share in 2020. The growth in this region is owing to the introduction of fundamental techniques such as augmented reality (AR), 5G, virtual reality, 3D audio, advanced graphics, among others.

Europe is estimated to grow expressively owing to the growing demand for virtual reality devices in gaming events in leading nations such as Germany, Spain, Italy, and others. These competitions are centered on progressive games with built-in virtual reality technology.

Asia Pacific is estimated to grow with the maximum CAGR during the mentioned time period. Developing nations such as India, China, South Korea, and Indonesia are likely to support the growth of the market in this region.

Competitive Landscape

Important Players Focus on Fortifying their Market Positions with Continuous Developments

The significant players in the gaming industry are fixated on emerging prototypes for software, gaming hardware, and content. The players are financing in building progressive virtual reality headsets to provide immersive and communicating gaming encounters to the gamers. Similarly, the prominent players are participated in several procurements, collaborations, partnerships, and unions to magnify the market manifestation. For example, in June 2017, Apple, Inc. attained SensoMotoric, which is an instrument supplier company of eye-tracking solutions.

Industry Development

September 2020: Ubisoft Entertainment SA included Splinter Cell and Assassin's Creed in its VR collection. Through these novel acquirements, the company is shifting towards establishing its business in the market.

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Major Table of Contents:

• Introduction
  • Definition, By Segment
  • Research Methodology/Approach
  • Data Sources
• Key Takeaways
• Market Dynamics
  • Macro and Micro Economic Indicators
  • Drivers, Restraints, Opportunities and Trends
  • Impact of COVID-19
    • Short-term Impact
    • Long-term Impact
• Competition Landscape
  • Business Strategies Adopted by Key Players
  • Consolidated SWOT Analysis of Key Players
• Global Virtual Reality (VR) in Gaming Key Players Market Share Insights and Analysis, 2020
• Key Market Insights and Strategic Recommendations
• Companies Profiled (Covered for key 10 players only)
  • Overview
    • Key Management
    • Headquarters etc.
  • Offerings/Business Segments
  • Key Details (Subjected to data availability in public domain and/or on paid databases)
    • Employee Size
    • Key Financials
      • Past and Current Revenue
      • Geographical Share
      • Business Segment Share
  • Recent Developments
• Annexure / Appendix
  • Global Virtual Reality (VR) in Gaming Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
    • By Component (Value)
      • Hardware
      • Software
      • Content
    • By Device (Value)
      • Mobile
      • Console/PC
      • Standalone
    • By Region (Value)
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • Latin America
  • North America Virtual Reality (VR) in Gaming Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
    • By Component (Value)
      • Hardware
      • Software
      • Content
    • By Device (Value)
      • Mobile
      • Console/PC
      • Standalone
    • By Country (Value)
      • United States
        • By Device
      • Canada
        • By Device
  • Europe Virtual Reality (VR) in Gaming Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
    • By Component (Value)
      • Hardware
      • Software
      • Content
    • By Device (Value)
      • Mobile
      • Console/PC
      • Standalone

TOC Continued…!

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