Virtual Reality in Gaming Market Segmentation Analysis by Platform and Genre Trends
The global virtual reality in gaming market size is anticipated to reach USD 109,589.8 million by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 21.6% from 2025 to 2030. The intensifying demand for technologically progressive electronic games amongst millennials is anticipated to drive the market growth from 2020 to 2027.
There is a significant demand for recreation activities in a Three-Dimensional (3D) environment using compact virtual reality gaming devices in the younger generations. The preference for enhanced experience using immersive technology into VR simulation of 3D surroundings is expected to drive the market growth. Continual innovations in the VR space and development of wide-ranging virtual reality games have enticed the gaming enthusiasts worldwide. Enriched gaming involvement owing to the interactive video games, alluring VR accessories, and realistic 3D recreational environments is anticipated to encourage the market growth from 2020 to 2027.
Startups are making the most of crowdfunding in the virtual reality space to develop innovative wearables, accessories, and software for recreation. For instance, Cyan, Inc., a U.S. based gaming studio, launched a new crowdfunding campaign in March 2019 for their VR-enabled game named ‘Firmament.’ Moreover, the advent of fifth generation (5G) network technology is poised to further augment the VR in gaming experience due to the low latency, improved reliability, and high density offered by the 5G technology. The technology also enables the integration of virtual reality with cloud solutions. Telecom solution providers are partnering with the market players in the gaming industry to enhance the VR-based offerings. For instance, in April 2019, AT&, Inc. partnered with NVIDIA Corporation; HTC Corporation; PlayGiga; and Arvizio, Inc. to develop its 5G network apt for VR games. These technical advancements are expected to drive the industry growth.
Gather more insights about the market drivers, restrains and growth of the Global Virtual Reality In Gaming Market
Virtual Reality In Gaming Market Report Highlights
- Companies are profoundly investing in the research and development of commercial VR accessories that can be connected to smartphones, desktops, and gaming console.
- The hardware component segment is expected to expand at the highest CAGR over the forecast period, owing to the high procurement expenses and rapid advancements in wearables and accessories such as virtual reality bodysuit, gloves, input devices, and masks.
- The Brazilian, Mexican, and Indian markets are expected to observe a significant surge in the growth, due to a combination of factors including the number of millennials, rising disposable income of buyers, enthusiastic gamers, rapid smartphone penetration, and growing console sales that makes the regions a rewarding market for VR-based games.
Key Virtual Reality In Gaming Company Insights
Some of the key players operating in the market include Sony Group Corporation and Microsoft Corporation, among others.
- Sony Group Corporation is a multinational conglomerate that offers a diverse range of products and services, including electronics, gaming, entertainment, and financial services. In the gaming peripheral market, Sony has made a name for itself with its PlayStation gaming consoles and accessories. PlayStation is a line of gaming consoles developed and owned by Sony. The first PlayStation console was released in 1994, and since then, Sony has released several iterations of the console, including the PlayStation 2, PlayStation 3, PlayStation 4, and the latest PlayStation 5.
- Microsoft Corporation is a multinational technology company that offers a wide range of software, hardware, and gaming related products and services. In the gaming peripheral market, Microsoft Corporation has made a name for itself with its Xbox gaming consoles and accessories. Xbox is a line of gaming consoles developed and owned by Microsoft Corporation. The first Xbox console was released in 2001, and since then, Microsoft Corporation has released several iterations of the console, including the Xbox 360, Xbox One, and the latest Xbox Series X/S.
Some of the emerging market players in the virtual reality in gaming market include Electronic Arts, Inc., Nintendo Co.,Ltd., among others
- Nintendo Co. Ltd. is a Japanese multinational consumer electronics and video game company that is known for its innovative gaming consoles and software. In the gaming peripheral market, Nintendo has made a name for itself with its popular gaming consoles and accessories. Nintendo has a long history in the gaming industry, having released its first gaming console, the Nintendo Entertainment System (NES), in 1983.
- Electronic Arts Inc. (EA) is a prominent video game company that develops publishing and distributes interactive entertainment software globally. EA is known for producing and publishing a wide range of popular video game franchises across multiple platforms, including console, PC, and mobile.
List of Key Players of Virtual Reality In Gaming Market
- Sony Corporation
- Microsoft Corporation
- Nintendo Co. Ltd.
- Linden Research, Inc.
- Electronic Arts Inc.
- Meta Platforms, Inc.
- Samsung Electronics Co. Ltd.
- Google LLC (Alphabet, Inc.)
- HTC Corporatio
- Virtuix
- Ultraleap Limited
- Tesla Studios
- Qualcomm Technologies, Inc.
Order a free sample PDF of the Virtual Reality In Gaming Market Intelligence Study, published by Grand View Research.
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