SkyQuest Technology Consulting Pvt. GmbH.
SkyQuest’s Virtual Reality in Gaming market report is an excellent analysis for individuals interested in gaining insight into the valuable data, trends and opportunities in a fast growing industry. Furthermore, the report is written in a clear and concise manner which makes it accessible to various audiences ranging from industry experts to market readers. Finally, one can gain a deep understanding of the primary and secondary market drivers and give them a comprehensive outlook on the current market situation and future projections.
WESTFORD, April 9, 2023 (GLOBE NEWSWIRE) — SkyQuest forecasts the virtual reality in gaming market to be worth $162.71 billion by 2030, at a CAGR of 30.27% above Forecast (2022-2030). The growing popularity of state-of-the-art VR hardware and accessories among gamers is the main factor driving the demand for virtual reality in gaming. New small and startup businesses are entering the market with cutting-edge software and content products. Additionally, some of the key market drivers include advances in 5G technology, creative gaming assets, and cloud-based gaming technology. In addition, leading companies are introducing advanced hardware and accessories.
According to SkyQuest, VR gaming involves a 3D world that allows the player on a computer to feel physically present in the game’s environment using a mouse, touchscreen and other tools. Players can engage with the objects in the game environment, observe them and move around in the various accessories associated with VR technology such as: B. Virtual reality headsets, surround displays, virtual reality rooms equipped with wearable computers and sensory components. 61% of respondents in a global survey of technology company executives, start-up founders, investors and advisors agreed that games would dominate investments in VR technology development.
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Browse Detailed TOC of Virtual Reality in Gaming Market
Pages – 242
Tables – 88
Numbers – 63
“Virtual Reality in Gaming” refers to a new breed of computer games that incorporate virtual and augmented reality, giving players a totally realistic first-person perspective of gaming. Through a variety of VR gaming equipment and accessories such as VR headsets, glove-mounted sensors and hand controllers, players can experience the world of the game.
Prominent Players in Virtual Reality in the Gaming Market
The single user segment is growing in the market due to the increasing availability and affordability of VR devices as well as the growing popularity of VR games among consumers
In 2021, the single user segment led the virtual reality entertainment market and it is expected to remain so throughout the forecast period. The segment dominance in the market is confirmed by the easy accessibility and availability of VR games at the place of residence of users, as well as the gradually decreasing hardware costs. Industrial companies develop low-cost devices to enter the market and expand their customer base. For example, the Google, LLC cardboard hat is an HMD that can be paired with a smartphone to allow users to experience the virtual world of an electronic game.
North America dominated the virtual reality in gaming market. The expansion of the market in the region is attributed to the increasing demand for high-end VR gaming devices with technologies such as VR/AR, 8K and 4K resolutions, IoT, cloud streaming and 3D visuals. In the North America region, the United States and Canada are significant contributors. The United States is expected to hold the majority of the market share in North America during the forecast period. Core technological advances such as augmented reality (AR), virtual reality (VR), 5G, 3D audio, enhanced graphics and others have accelerated the development of this sector.
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The commercial space segment is growing due to the increasing popularity of VR technology
The commercial space segment is expected to witness the highest growth with a CAGR of more than 32.0% from 2022 to 2030. Due to their ability to completely separate users from the real world and experience the virtual world created in that place, VR gaming zones and arcades are gaining popularity around the world. Children are drawn to public places like arcades, cafes, and theme parks because these facilities offer better virtual reality gaming experiences at affordable hourly rates.
Asia-Pacific is expected to expand at the highest CAGR during the forecast period. The expansion of the market would be supported by emerging countries like India, South Korea, China and Indonesia. According to Comscore MMX statistics, the largest gaming audiences and websites are found in countries like India, Indonesia, Japan, Australia and others. This creates opportunities in the market in the region.
A comprehensive analysis of the major players in the virtual reality gaming market has been carried out in a recent report. Covering various aspects including collaborations, mergers, innovative business policies and strategies, the report provides valuable insights into major trends and breakthroughs in the market. In addition, the report examines the market share of the top segments and presents a detailed geographical analysis. Finally, the report highlights the key players in the industry and their efforts to create innovative solutions to meet the growing demand.
Key developments in virtual reality in the gaming market
In March 2022, the National Football League and StatusPRO, Inc., a sports technology and entertainment company, collaborated to create an NFL-licensed virtual reality game.
In December 2021, GameWorks, a company specializing in esports and entertainment, began using the virtual display technology powered by Brelyon, an MIT spin-off creating a new category of ultra-immersive display technologies. Brelyon’s large format gaming platforms are available on a number of GameWorks websites across the country.
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Important Key questions answered in Virtual Reality in Gaming market report
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How are regional trends and patterns differing within the global market and how could these differences impact the future growth of the market?
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