Global VR Gaming Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

MarketResearch.biz delivers in-depth insights on the global VR gaming market in its upcoming report titled, “Global VR Gaming Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027”. The global VR gaming market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018-2027. The report offers in-depth insights, revenue details, and other vital information regarding the global VR gaming market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the global VR gaming market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global VR gaming market report has been segmented on the basis of components, gaming devices, and region.

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Virtual reality technology enables gamers to indulge in an imaginary or virtual setting or scenario, where the gamers physical presence is simulated to be a part of a three-dimensional environment. With VR equipment and accessories, users can view, navigate, and interact with objects within the gaming environment.

Growing demand for latest state-of-the art technology in electronic games, growing awareness of VR technology, increasing Internet penetration, and rising disposable income among consumers in emerging countries are major factors driving growth of the global VR gaming market. In addition, enhanced and life-like user experience at any location is further boosting demand for VR technology in the gaming industry. Increasing adoption of VR technology for practical learning purposes, training programs, and for simulation of various techniques in medical institutions, military & defense, and aviation sectors are some other factors fueling growth of the global VR gaming market. Moreover, increasing competition for developing VR technology in computerized games is expected to further drive growth of the global market during the forecast period.

Major factors such as high price of VR headsets and high initial investment are hampering growth of the global VR gaming market. In addition, compatibility issues of VR devices with consoles, spatial discomfort, and risk of mental and physical conditions are some other factors hampering growth of the global VR gaming market.

One of the popular trends in the global market is rising adoption and preference for 360-degree videos that are created using enhanced camera systems with capability to record whole 360-degree angle sets simultaneously. This enables viewing videos in any angle, with options to rotate and pan the videos. Also, crowdfunding by start-ups in the VR space to develop innovative software, wearables, and accessories, are further expected to drive growth of the global VR market during the next 10 years.

North America accounts for highest revenue share owing to high purchasing power and presence of considerable number of gamers and major vendors in countries in this region. During the forecast period, China is expected to emerge as the largest market for games equipped with VR technology, followed by North America. The market in Asia Pacific is expected to witness moderate growth during the forecast period; whereas, the market in Latin America is projected to witness significant growth in terms of revenue during the forecast period.

Global VR Gaming Market Segmentation:

Segmentation on the basis of components:

• Hardware
• Software

Segmentation on the basis of gaming devices:

• Gaming console
• Desktop
• Smartphone

Region-wise segmentation:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa