The global Virtual Reality in Gaming Market is estimated to be valued at US$ 15,895.59 Mn in 2023 and is expected to exhibit a CAGR of 29% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Virtual reality enables gamers to experience an immersive 3D gaming environment with interactive content and visual display. VR headsets provide 360-degree virtual environment to gamers which improves engagement. VR in gaming enhances the gaming experience and offers more realistic graphics.

Market Key Trends:

Augmented reality is witnessing significant adoption in gaming sector. Integration of AR technology allows overlay of digital elements on real world environment in real time. Major gaming companies are focusing on development of AR enabled games. For instance, Pokémon Go by Nintendo is a very popular AR game. Such games are gaining traction due to benefits like interacting with digital characters in real world settings. Further, AR games offer more engaging and lively gameplay experience by bringing together virtual and real world.

Segment Analysis:

The global virtual reality in gaming market is segmented based on offering, device type, and geography. Based on offering, the market is segmented into hardware and software. The hardware segment is expected to dominate the market during the forecast period. This is owing to increasing demand for virtual reality devices such as VR headsets and controllers to have immersive gaming experience.

Key Takeaways:

The Global Virtual Reality in Gaming Market Growth is expected to witness high, exhibiting CAGR of 29% over the forecast period, due to increasing demand for immersive gaming experience offered by VR technology and investment in VR content development.

Regional analysis:

North America is expected to dominate the global virtual reality in gaming market during the forecast period. This is attributed to factors such as presence of key players and early adoption of advanced technologies in the region. Asia Pacific is expected to exhibit highest growth in the market during the forecast period owing to rising gaming population and increasing investment in VR technology in the region.

Key players:

Key players operating in the virtual reality in gaming market are Electronic Arts Inc., Kaneva LLC, Nintendo Co. Ltd, Avatar Reality Inc., Sony Corporation, Oculus VR, Activision Publishing Inc., and Sega Corporation. Electronic Arts Inc. is a leading player in the market, offering VR gaming titles for headsets developed by Oculus and HTC Vive.

*Note:
1.  Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it