The MarketWatch News Department was not involved in the creation of this content.
Jan 22, 2021 (The Expresswire) —
The overall virtual reality in gaming and entertainment market is expected to grow from USD 4.15 Billion in 2018 to USD 70.57 Billion by 2026 at a CAGR of 40.1% during the forecast period. This is one of the few applications allowing users to experience a 3D atmosphere. This system allows a user to interact during the game, which is one of the chief drivers of the market. Virtual Reality Gaming is ubiquitous in nature as it generates realistic sounds and images, enabling users to experience their presence in the virtual world. Virtual reality games consist of several gaming accessories. Some of them are motionless game controllers, multi-projected technology, and 3D audio headsets.
The global virtual reality in gaming market size stood at USD 5.12 billion in 2019 and is projected to reach USD 45.20 billion by 2027, exhibiting a CAGR of 31.8% during the forecast period
To Gain More Insights into the Virtual Reality in Gaming and Entertainment Market Analysis, Browse Summary of the Research Report –https://www.fortunebusinessinsights.com/industry-reports/virtual-reality-gaming-market-100271
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are making continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
The report on the virtual reality in gaming and entertainment market contains:
- Future insights into the market
- In-depth study of the regions
- Product and brand strategies
- Factors enabling market growth
- Competitive landscape
- COVID-19 impact
List of Top Key Players:
- Samsung Electronics
- Sony
- Electronic Arts (EA)
- HTC
- Oculus VR
- Leap Motion
- VirZOOM
- ZEISS International
“North America Holds Maximum Share, Increasing MandAs in the U.S. and Canada to Support Growth”
North America is anticipated to dominate the global Virtual Reality in Gaming and Entertainment Market during the forecast period. This is ascribable to the rising number of mergers and acquisitions (MandA), especially in the U.S and Canada. Some of the giant gaming studios such as Ubisoft Entertainment, Electronic Arts (EA) Canada Inc., and Capcom Co. Ltd. strengthen their market position by adopting strategic initiatives. Furthermore, these companies acquired small-scale players such as Industrial Toys, GameFly, Respawn Entertainment among others. These initiatives have encouraged the companies to expand their product portfolio and substantially grow in terms of virtual reality content development.
The demand for virtual reality online gaming is likely to increase in Asia Pacific during the forecast period. Countries such as South Korea, China, and India are expected to show considerable growth primarily owing to the rising adoption of virtual reality technology. In addition to this, VR technology is likely to become more accessible and available over the next few years. This will further generate growth opportunities for the development of 4K motion sensors and 3D audio headsets.
Request a Sample Copy for more detailed Virtual Reality in Gaming and Entertainment Market Overview –https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/virtual-reality-gaming-market-100271
“Electronic Arts Acquired Industrial Toys to Deploy Advanced Technologies”
“The gaming industry is witnessing a rising demand for technological advancements,” stated a lead analyst at Fortune Business Insights. “VR developers are continuously investing in technologies such as machine learning and bio-sensing,” he added. For instance, Electronic Arts acquired industrial toys to effectively deploy biosensing technology in the Virtual Reality Gaming set up. This deployment is expected to allow users to experience a 3D view and simultaneously interact with different objects in virtual reality games. Growing adoption of cloud computing services and technological developments in nanotechnology are some other factors stimulating growth in the market. The rising awareness about virtual reality technology is likely to record steep growth in the forecast years. This is further expected to encourage companies install Virtual Reality Gaming systems over the next few years. The number of VR gaming centers and VR gaming cafes are likely to expand owing to the rising interest in VR games across the world.
The report answers the following questions:
- What are the recent virtual reality in gaming and entertainment market trends and developments?
- How will the market be affected by changing consumer behavior?
- Which strategies are being adopted by key players to enhance their market footprint?
- Which region will remain in the dominant position in terms of revenue?
- How many niche segments are present in the market?
“Disassociation with Actual Reality May Hamper the Growth”
As the number of VR gaming users are increasing, these users may find it difficult to know the difference between actual and virtual reality. These users are likely to disassociate themselves with the real world. This may further lead to rising levels of gaming addiction. This addiction can cause mental and physical health issues and is likely to hamper the growth of the market.
“Companies Launch Innovative Products to Expand their Global Reach”
Google, Electronic Arts Inc., HTC Corporation, LLC, SAMSUNG Group, Oculus VR, Sony Corporation, LEAP MOTION, INC., ZEISS International, and VirZOOM, Inc. are some of the leading players operating in the global reality gaming market. Companies are continuously investing in research and development (RandD) activities to bring advances in VR games.
Oculus VR, LLC introduced Quest’ gaming VR and Oculus Go in January 2018. Oculus Go has an Organic Light Emitting Diode (OLED) panel, offering 360-degree video experience to VR gaming users. Further, it has inbuilt headphones, which provide a three-dimensional audio effect and an integrated USB infrared sensors to offer information on positional tracking system.
Speak to our Analyst for any Queries about Virtual Reality in Gaming and Entertainment Market Research Report –https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/virtual-reality-gaming-market-100271
Major Table of Contents:
-
Introduction
- Definition, By Segment
- Research Approach
- Sources
- Executive Summary
-
Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends
-
Key Insights
- Macro and Micro Economic Indicators
- Consolidated SWOT Analysis of Key Players
- Value Chain Analysis
-
Global Virtual Reality in Gaming and Entertainment Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
-
Market Size Estimates and Forecasts
-
By Component (Value)
- Hardware
- Software
- Content
-
By Device (Value)
- Mobile
- Console/PC
- Standalone
-
By Geography (Value)
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
-
By Component (Value)
-
North America Virtual Reality in Gaming and Entertainment Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Size Estimates and Forecasts
TOC Continued…….!
Purchase Full Report for Exclusive Virtual Reality in Gaming and Entertainment Market Growth Forecast –https://www.fortunebusinessinsights.com/checkout-page/100271
Other Exclusive Reports:
About Us:
Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Contact:
Name: Ashwin Arora
Email:[email protected]
Phone: US +1 424 253 0390 / UK +44 2071 939123 / APAC: +91 744 740 1245
Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Virtual Reality in Gaming and Entertainment Market Data Current and Future Trends, Industry Size, Share, Revenue, Business Growth Forecast to 2026
COMTEX_378422657/2598/2021-01-22T04:17:15
Is there a problem with this press release? Contact the source provider Comtex at [email protected]. You can also contact MarketWatch Customer Service via our Customer Center.
The MarketWatch News Department was not involved in the creation of this content.
More Stories
Hit It & Quit It with Brooke Daniels, Melanie Greenough, & Scott J. Miller » Succeed As Your Own Boss
Global stocks climb after cooler than expected US inflation data
The 7 best free job posting sites for employers in 2022