Global Virtual Reality (VR) Gaming Market is Expected to Grow at a CAGR of over 50% in Next 5 Years till 2022: Ken Research
- The VR gaming market is expected to be driven by the emergence of virtual theme parks and arcades in future.
- Smartphone integrated VR gaming applications will drive the VR gaming market in future.
The VR gaming market in US generated the highest revenue in comparison to other countries owing to high disposable income coupled with the demand for advanced technology in gaming. Substantial number of gamers have aided in high market share of the country. The average spending of a customer in the country in gaming sector is USD 16.5 monthly. In future, the market share of the country in VR gaming is expected to be lower due to the introduction of products and adoption of technology by others countries, but the number of consumers are expected to increase in the US. Millennials will continue to be the major customer segment of the industry in future.
Mobile devices segment is likely to experience the highest growth in the devices segment due to the advantage of portability and declining cost of mobile devices. The share of mobile gamers out of total VR gaming user base would be 40% in 2022 whereas consoles and PC users would have 32% and 28% share respectively. The expected increase in the number of VR arcades worldwide will make a positive impact on the market as these arcades will lead the gamers to participate in such events hence leading them to purchase VR gaming related products. With the launch of new VR products and games planned by various companies in future, for instance, Sony plans to introduce several appealing software titles and a variety of network services to accompany the PS4 Pro and PS VR and Valve Software is planning to launch three new VR games to products in pipeline of Ubisoft including South Park Phone Destroyer, The Division Update 1.8 Resistance, Operation White Noise and For Honor, will push the market towards further growth.
Analysts at Ken Research in their latest publication “Global VR Gaming Market Outlook to 2022 – by Hardware, Software and Accessories (Motion Sensor, Masks & Gloves, Bodysuits and Others) and by Devices (PC, Consoles and Mobiles)“ believe that VR development is supposed to be the future of tech. The market is just about to explode. With increase in units shipped of Oculus Rift, HTC Vive, Gear VR Google Cardboard and others in the market, with further acceptability of VR products, the spotlight would fall on premium or good quality VR gaming content availability in the market.
The expected increase in the number of VR based arcade games worldwide will make a positive impact on the market. The VR gaming market can face high threat from the upcoming AR/MR market due to launch of new products and services. To compete and sustain in the market, there should be constant technology up gradations taking place in the space.
Key Topics Covered in the Report
- Global Gaming Market Snapshot
- Value Chain Analysis
- Global VR Gaming Market
- Global VR Gaming Market Overview and Genesis
- Global VR Gaming Market Size, 2015-2017
- Global VR Gaming Segmentation
- By Type (Hardware, Software and Accessories), 2017
- Accessories by Product, 2017
- Accessories by Technology Adopters
- By Devices (PC, Consoles and Mobile), 2017
- By Distribution Channel (Traditional Stores and Online Stores), 2017
- By Regions (EMEA, America and APAC), 2017
- Decision Making Process for Buying Virtual Reality Gaming Products
- SWOT Analysis for Global VR Gaming Market
- Competitive Landscape for VR Gaming Market
- Market Share of Major Players in VR Gaming Hardware, 2017
- Company Profiles
- Sony Corporation
- Oculus VR LLC
- HTC Corporation
- Google Inc.
- Samsung Electronics Company Limited
- Leap Motion
- Razer Inc.
- Valve Software
- Electronic Arts Inc.
- User Profile for Global VR Gaming
- Snapshot of Major Countries in Global VR Gaming Market
- South Korea
- Future Outlook and Projections for VR Gaming Market, 2018-2022
- Uptake scenario
- Case Scenario
- By Type (Hardware, Software and Accessories), 2022
- By Device Users (Mobile, Console and PC), 2022
- By Distribution Channel (Online Stores and Traditional Stores), 2022
- By Regions (EMEA, Americas and APAC), 2022
- Analyst Recommendation for Global VR Gaming Market
For more information on the research report, refer to below link:
Ankur Gupta, Head Marketing & Communications
SOURCE Ken Research