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Global Virtual Reality Gaming Market Share, Forecast: By Component: Software, Hardware; By Device: Personal Computers, Gaming Consoles, Mobile Devices; By Age Group: Adults, Children; By Types of Games: Racing, Adventure, Fighting, Shooting, Mystery Thriller, Puzzle, Others; Regional Analysis; Competitive Landscape; 2024-2032
Global Virtual Reality Gaming Market Outlook
The global virtual reality gaming market size reached USD 35.29 billion in 2023. The market is expected to grow at a CAGR of 29.7% between 2024 and 2032, reaching almost USD 365.75 billion by 2032.
Key Takeaways
- The International Trade Administration reported the global video game market to be worth $159 billion in 2020, with 2.7B gamers worldwide, thus enhancing the global virtual reality gaming market growth.
- VR gaming is utilized for therapeutic purposes like rehabilitating individuals and addressing phobias, and anxiety disorders. It's also employed in military training to enhance strategy skills.
- According to the China Audio Video and Digital Publishing Association, China's gaming industry in 2020 was led by mobile games.
Virtual reality (VR) gaming immerses players in an artificial, three-dimensional (3D), computer-generated environment using specialized equipment. This technology offers a complete 360-degree view of the virtual world, keeping players engaged for longer periods than traditional gaming. It requires strategic thinking, problem-solving, and hand-eye coordination, fostering the development of diverse skills.
VR gaming also serves practical purposes such as rehabilitation and treating conditions like phobias and anxiety disorders. Additionally, it is utilized in military training to simulate combat scenarios and enhance soldiers' skills in strategy and decision-making.
As per the International Trade Administration, the number of estimated gamers worldwide is 2.7 billion gamers. In the United States, about three-quarters of households include at least one person who considers themselves a gamer, thus boosting the global virtual reality gaming market.
Key Trends and Developments
Technological progress, advanced gaming experiences, multiplayer interaction, and cloud-based gaming drive the global virtual reality gaming market.
February 2024
Maru VR launched their anticipated VR game, Bootstrap Island, which is set in a captivating 17th-century world where players race against time for survival.
December 2023
Sony introduced its second-generation virtual-reality headset, PlayStation VR2, in India, equipped with two OLED displays for 4K HDR visuals.
December 2023
Resolution Games introduced "Racket Club," its newest VR game, which blends elements of pickleball, tennis, ping-pong, and padel into a unique sport.
November 2023
Vodafone India (Vi) collaborated with Yudiz Solutions to release a VR combat shooting game in India, highlighting 5G and VR's potential in gaming.
Technological advancements
The global virtual reality gaming market developments are attributed to the improved hardware like GPUs, CPUs, and motion-tracking sensors that make VR gaming accessible. Software improvements offer sensory-rich experiences surpassing traditional gaming. Standalone VR headsets with built-in processing and wireless connectivity enhance convenience and mobility.
Cutting-edge gaming adventures
As per the global virtual reality gaming market analysis, the industry is thriving due to diverse content and innovative experiences. Leading developers craft genres like action, adventure, simulation, and educational games tailored for VR.
Multiplayer and socialising
Social interaction and multiplayer components propel the growth of the global virtual reality gaming market. Through VR, players engage with friends and global gamers, bridging geographical gaps for shared experiences. Realistic gestures, facial expressions, and voice communication deepen emotional connections, making VR a platform for building relationships and bonds.
Cloud-based gaming
The rise of cloud-based VR gaming is swiftly progressing. Utilizing cloud platforms, players can experience high-quality VR games without the need for robust hardware. This surge is propelling the global virtual reality gaming market growth, broadening access to VR gaming for a larger demographic. Players now can stream games directly to their VR headsets, reducing the initial hurdles to entry.
Global Virtual Reality Gaming Market Trends
VR gaming is increasingly focusing on health and fitness applications, with a surge in games and apps designed for physical activity like dancing, boxing, and fitness challenges. This trend promotes an active lifestyle through immersive experiences that combine enjoyable gameplay with exercise routines.
According to the global virtual reality gaming market report, VR games prioritise immersive storytelling and deep narratives, immersing players in captivating storylines where their decisions shape the game's outcome. Developers are creating detailed worlds for players to explore, unravel mysteries, and experience emotionally resonant narratives.
Market Segmentation
Global Virtual Reality Gaming Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Component
- Software
- Hardware
Market Breakup by Device
- Personal Computers
- Gaming Consoles
- Mobile Devices
Market Breakup by Age Group
- Adults
- Children
Market Breakup by Types of Games
- Racing
- Adventure
- Fighting
- Shooting
- Mystery Thriller
- Puzzle
- Science Fiction
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Software is propelling the global virtual reality gaming market growth, as it allows for customization and adjustment, leading to an increase in its growth
Regular software updates maintain VR experiences' freshness, retaining user interest. VR's capacity to connect users hinges on software-driven tools and immersive environments. Software optimizes hardware use, improving performance and visuals. Advanced algorithms enable smoother gameplay and better graphics.
VR hardware benefits include immersion, realism, precise controls, physical engagement, affordability, health benefits, design innovation, and enhanced social interactions.
Based on device, the global virtual reality gaming market share is led by personal computers due to their distinctive capabilities and adaptability, which cater to the requirements of immersive experiences
Personal computers (PCs) offer vast customization, letting users create systems with powerful processors, graphics cards, and ample RAM for optimal VR performance. The open PC ecosystem encourages innovation and developer competition.
Gaming consoles act as a unified VR hub, providing easy setup, top performance, exclusive titles, integrated systems, specialized VR gear, affordability, and reliable technical support for VR gaming.
Shooting games are propelling the global virtual reality gaming market by immersing players directly into the heart of the action, enhancing their experiences
In virtual reality shooting games, players experience realistic aiming and immersive environments, engaging in strategic shootouts where they can physically duck, dodge, and interact with weapons. The tactile sensation of reloading and aiming enhances the realism and excitement.
VR racing games provide an exhilarating experience with high-speed races, realistic graphics, and motion effects. Steering controls, responsive feedback, and dynamic environments contribute to a visceral racing experience, whether competing against AI or real opponents.
Competitive Landscape
Market participants in the global virtual reality gaming market are focusing on developing specialized technology tailored for VR, thereby enriching user interactions and experiences within immersive environments.
Sony Corporation, established in 1946, Sony Corporation is a well-known global leader in electronics, gaming, and entertainment. Based in Japan, Sony has developed revolutionary products such as PlayStation consoles, Bravia TVs, and Xperia smartphones, greatly impacting the tech industry.
Meta, founded in 2004, Meta Platforms, previously known as Facebook, is a pioneer in transforming social networking and virtual reality. Headquartered in California, Meta connects billions globally through platforms like Facebook, Instagram, WhatsApp, and Oculus VR, enhancing digital connectivity and immersive experiences.
Nintendo, established in 1889, Nintendo has been a trailblazer in gaming and entertainment. Headquartered in Japan, Nintendo is renowned for iconic franchises like Mario, Zelda, and Pokémon, shaping the gaming landscape with innovative consoles such as the Nintendo Switch.
HTC Corporation, founded in 1997 and based in New Taipei City, Taiwan, is a prominent innovator in consumer electronics. Initially gaining recognition for smartphones, HTC later expanded into virtual reality with its Vive VR headset, pushing boundaries in immersive technology experiences.
Other key players in the global virtual reality gaming market are Samsung Electronics Co., Ltd., Electronics Arts Inc., Ultraleap, and Microsoft Corporation among others.
Global Virtual Reality Gaming Market Analysis by Region
Based on region, the global virtual reality gaming market share is led by North America since it boasts cutting-edge technology infrastructure and a thriving gaming sector, leading to widespread adoption of VR gaming among both dedicated enthusiasts and casual players. Moreover, the region hosts major tech firms and game developers, fuelling innovation and the creation of diverse gaming content.
Asia Pacific is poised for substantial growth, particularly in China and Japan, due to their large consumer bases and widespread adoption of VR games on smartphones. The region will see significant technology uptake, boosted by the rollout of high-speed 5G networks, enriching gaming experiences. South Korea and India are also expected to drive demand, benefitting from entertainment industry advancements and rising incomes.
According to the China Audio Video and Digital Publishing Association, China's gaming industry in 2020 saw mobile games dominate followed by e-sports.
Key Highlights of the Report
| 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 Component |
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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. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Virtual Reality Gaming Market Analysis
8.1 Key Industry Highlights
8.2 Global Virtual Reality Gaming Historical Market (2018-2023)
8.3 Global Virtual Reality Gaming Market Forecast (2024-2032)
8.4 Global Virtual Reality Gaming Market by Component
8.4.1 Software
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Hardware
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Virtual Reality Gaming Market by Device
8.5.1 Personal Computers
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Gaming Consoles
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Mobile Devices
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global Virtual Reality Gaming Market by Age Group
8.6.1 Adults
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Children
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Virtual Reality Gaming Market by Types of Games
8.7.1 Racing
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Adventure
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Fighting
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Shooting
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Mystery Thriller
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
8.7.6 Puzzle
8.7.6.1 Historical Trend (2018-2023)
8.7.6.2 Forecast Trend (2024-2032)
8.7.7 Science Fiction
8.7.7.1 Historical Trend (2018-2023)
8.7.7.2 Forecast Trend (2024-2032)
8.7.8 Others
8.8 Global Virtual Reality Gaming Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Virtual Reality Gaming Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Virtual Reality Gaming Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Virtual Reality Gaming Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 South Korea
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Virtual Reality Gaming Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Virtual Reality Gaming Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Turkey
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Iran
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Sony Corporation
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Nintendo
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Meta
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Electronic Arts Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Samsung Electronics Co., Ltd
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 HTC Corporation
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Ultraleap
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Microsoft Corporation
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1 Global Virtual Reality Gaming Market: Key Industry Highlights, 2018 and 2032
2 Global Virtual Reality Gaming Historical Market: Breakup by Component (USD Billion), 2018-2023
3 Global Virtual Reality Gaming Market Forecast: Breakup by Component (USD Billion), 2024-2032
4 Global Virtual Reality Gaming Historical Market: Breakup by Device (USD Billion), 2018-2023
5 Global Virtual Reality Gaming Market Forecast: Breakup by Device (USD Billion), 2024-2032
6 Global Virtual Reality Gaming Historical Market: Breakup by Age Group (USD Billion), 2018-2023
7 Global Virtual Reality Gaming Market Forecast: Breakup by Age Group (USD Billion), 2024-2032
8 Global Virtual Reality Gaming Historical Market: Breakup by Types of Games (USD Billion), 2018-2023
9 Global Virtual Reality Gaming Market Forecast: Breakup by Types of Games (USD Billion), 2024-2032
10 Global Virtual Reality Gaming Historical Market: Breakup by Region (USD Billion), 2018-2023
11 Global Virtual Reality Gaming Market Forecast: Breakup by Region (USD Billion), 2024-2032
12 North America Virtual Reality in Gaming Historical Market: Breakup by Country (USD Billion), 2018-2023
13 North America Virtual Reality in Gaming Market Forecast: Breakup by Country (USD Billion), 2024-2032
14 Europe Virtual Reality in Gaming Historical Market: Breakup by Country (USD Billion), 2018-2023
15 Europe Virtual Reality in Gaming Market Forecast: Breakup by Country (USD Billion), 2024-2032
16 Asia Pacific Virtual Reality in Gaming Historical Market: Breakup by Country (USD Billion), 2018-2023
17 Asia Pacific Virtual Reality in Gaming Market Forecast: Breakup by Country (USD Billion), 2024-2032
18 Latin America Virtual Reality in Gaming Historical Market: Breakup by Country (USD Billion), 2018-2023
19 Latin America Virtual Reality in Gaming Market Forecast: Breakup by Country (USD Billion), 2024-2032
20 Middle East and Africa Virtual Reality in Gaming Historical Market: Breakup by Country (USD Billion), 2018-2023
21 Middle East and Africa Virtual Reality in Gaming Market Forecast: Breakup by Country (USD Billion), 2024-2032
22 Global Virtual Reality Gaming Market Structure
Key Questions Answered in the Report
The market is estimated to be valued at USD 35.29 billion in 2023.
The market is projected to grow at a CAGR of 29.7% between 2024 and 2032.
The revenue generated from the virtual reality gaming market is expected to reach USD 365.75 billion in 2032.
Technological progress, advanced gaming experiences, multiplayer interaction, and cloud-based gaming drive the virtual reality gaming market.
The virtual reality gaming market is categorised according to its component, which includes software and hardware.
The major players in the global virtual reality gaming market are Sony Corporation, Meta, Nintendo, HTC Corporation, Samsung Electronics Co., Ltd., Electronic Arts Inc., Ultraleap, and Microsoft Corporation among others.
Based on the device, the virtual reality gaming market is divided into personal computers, gaming consoles, and mobile devices.
The major areas include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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