DUBLIN–(BUSINESS WIRE)–The “Global Virtual Reality In Gaming Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.
The virtual reality (VR) in the gaming market is expected to grow at a CAGR of 32.75% over the forecast period (2021 – 2026).
- Oculus VR (Facebook Technologies LLC)
- HTC Vive
- Valve Corporation
- Intel Corporation
- Virtuix Omni
- Nintendo Co Limited
- Microsoft Corporation
- Samsung Corporation
- Google LLC
Key Market Trends
Premium Mobile Platform to Hold Significant Market Share
- Mobile virtual reality (VR) gaming is the most affordable experience for consumers who want to explore VR gaming without spending a substantial amount of money. Also, the portability and massive install base of smartphone users, across the world, is leading to its widespread adoption. According to Plink, there are about 2.2 billion mobile gamers around the world.
- With the increasing number of mobile gamers, the mobile VR gaming market is expected to gain significant traction as players are offering various accessories, such as a head-mounted display for smooth VR gaming experience for the mobile-based gamers.
- The most widely known VR headsets for mobile phones are Samsung Gear and Google Daydream. The lower price as compared to console and PC headsets and mobile headsets are often bundled with premium phones are vital factors that are driving the market. According to the 3D insider, by 2020, it is estimated that the number of VR headsets sold will reach up to 82 million units.
- Moreover, technologies, such as 5G, are also driving the mobile-based VR gaming market. For instance, in May 2020, Archiact announced a partnership with Migu, a subsidiary of telecom provider China Mobile, for Archiact’s games that would be the first VR games o be playable via Migu’s 5G cloud gaming platform, named as Migu Quick Gaming. Also, by partnering with Migu, Archiact states that it is able to work together to build the future of 5G VR cloud gaming, thus making VR even more accessible.
- While VR for mobile gaming currently provides a less immersive experience than console and PC-based VR, its adoption is expected to increase during the forecast period, due to a range of technological advancements in the mobile VR environment. Also, with the growth of smartphones, there is massive potential for the VR gaming market during the forecast period.
Asia-Pacific Region to Witness Significant Growth
- Asia-Pacific is expected to hold a significant share owing to the presence of large and several emerging economies, such as India and China, along with the rising acceptance of virtual reality devices in the region. This is, in turn, expected to encourage industry players to invest in VR gaming in the region.
- Due to the rising adoption of VR technology in the country, China is expected to account for a prominent share in the region. Also, the Chinese market for VR is expected to increase due to increased policy support from the government as well as rolling out of technologies, such as 5G, in the country. According to the industry regulator, China’s virtual reality (VR) market is forecast to expand to USD 7.9 billion by 2021.
- Also, many players in the region are building new games with more realistic in-game features that are driving the market. For instance, in July 2019, Hong Kong’s startup Sandbox VR created hyperrealistic virtual reality games. It has experimented with location-based VR gaming.
- The region is witnessing many investment and development in the R gaming market space. For instance, in August 2019, Beijing-China’s online and mobile game developer Yunyou Holdings, which is listed in Hong Kong, acquired the virtual reality startup Beijing Xigua Huyu Entertainment Technology to expand its product line.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing availability of compelling and theme-based games in the VR format
4.2.2 Millennials and high-income groups to drive adoption in the near and medium-term
4.3 Market Restraints
4.3.1 Threshold related to visual and auditory aspects – High demand for Mobile AR Gaming
4.4 Porter’s Five Forces Analysis
4.5 Impact of COVID-19 on the VR Gaming industry
4.6 Analysis on the popular themes in VR Gaming and top publishers (Arcade, Adventure, Horror, etc.)
4.7 Comparative study of AR and VR-based Gaming
5 MARKET SEGMENTATION
5.1 By VR Type
5.2 By VR in Gaming
5.3.1 North America
5.3.3 Asia Pacific
5.3.4 Rest of The World
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 INVESTMENT ANALYSIS
8 FUTURE OF THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/ahacxq
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900