The Global Virtual Reality (VR) in Gaming market is anticipated to reach USD 48.2 billion by 2026. The market for VR in gaming is propelled by factors including, increasing disposable income of people worldwide and continuous improvement in existing gaming technologies including, 3D effects, motion tracking, and interactive graphics for drawing users’ attention.
With the increase in spending capacity of people, people are demanding for new sources of entertainment and VR games offers a unique way of entertainment.
The hardware component segment of VR in gaming market held more than 50% of the market share in 2016 and is further expected to lead during the forecast period.
The high-cost of hardware components is the major factor for the increasing growth. However, with the increasing demand for these products, the prices are expected to decrease in the near future.
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The hardware segment is expected to grow very rapidly, the software segment is anticipated to experience modest growth. Adoption of the virtual reality technology has raised user expectation for enhanced software solutions, hence increasing challenges for developers than before.
By Geography, North America region accounted for the largest share for VR gaming in terms of revenue globally in 2017.
Top Key Player: –
. Microsoft Corporation
. Sony Corporation
. Electronic Arts
. Nintendo Company Ltd.
. Linden Labs
. Samsung Electronics Co. Ltd.
. Facebook (Oculus)
. Google, Inc.
. HTC Corporation
. Tesla Studios.
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The growth of North American market is attributed to accessibility of advanced gaming technology as well as acceptance and adoption of VR gaming products including head mounted displays. Further, Europe accounted for the second dominating region in 2017.
However, Asia Pacific is projected to witness the highest growth during the forecast period attributed to constantly increasing online gamers in developing countries such as China and India and a strong gamers base in countries such as Japan, Korea, Singapore, Malaysia and Indonesia.
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