Press Release
Press Release
Virtual reality gaming enables individuals to immerse themselves in a three-dimensional environment and engage with it during gameplay. This technology utilises various tools such as virtual reality headsets, motion capture techniques, and game controllers to simulate a realistic experience for users. The increasing consumer disposable income, expansion of the entertainment, media, and gaming sectors, and the increasing popularity of location-based gaming supports the virtual reality gaming market. Advanced iterations of VR include features like wrap-around displays and wearable computers, offering enhanced visuals, sound, and immersion. Additionally, the inclusion of controllers enhances user interaction, empowering them to customise and manipulate the gaming environment to suit their preferences.
The competitive landscape of virtual reality headsets is restricted to a few players, making it a highly concentrated market. Meta holds 90% of the VR headset market, followed by ByteDance's Pico, with a 4.5% share. Taiwan's HTC, China's DPVR, and iQIYI are the other three companies in the VR headset market, with less than 4% share combined.
Fig: Virtual Reality Headset Market Share by Industry Players, in Percentage
In addition, increasing infrastructural investment for fast internet connectivity is supporting the market for virtual reality gaming, reducing latency and ensuring smooth connectivity. According to industry reports, the global 5G subscription market is anticipated to increase by 212% from 2023 to 2028, reaching up to 4,624.1 million subscriptions in 2028.
Fig: Global 5G Subscriptions (2018-2029), Million Units
Further, increasing advancements in technology and constant innovations in the gaming sector are leading to the launch of advanced VR headsets. For instance, in December 2023, the Sony PlayStation VR2 virtual reality headset was launched in India, a growing market for e-gaming.
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The major players in the global virtual reality gaming market are Fove, Inc, Google, HTC Corporation, Razer Inc., Samsung Electronics Co., Ltd., and Advanced Micro Devices, Inc, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Segment |
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Breakup by Device |
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Breakup by Age Group |
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Breakup by Types of Games |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
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