Jul 08, 2020 (AmericaNewsHour) -- Global Virtual Reality In Gaming Market is estimated to reach $43.4 Billion by 2024; growing at a CAGR of 29.5% from 2016 to 2024. Virtual Reality (VR) technology is a computer technology and a computer-generated simulation of a 3-dimensional image or environment that enable gamers to indulge in a fantasy setting where the gamer’s corporal presence is replicated to be a chunk of the three-dimensional environment. With VR equipment, devices and accessories, the user or the gamer can view, move around, and even can interact with the objects or things within the game. Several start-ups and new entries in technology are developing models for using the VR technology in video games, which is anticipated to affect the growth positively over the years to come.
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The major aspects driving the global virtual reality in gaming market are rising disposable income of buyers in the developing nations, budding demand for latest technologies in electronic games, and growing competition for developing virtual reality technology in computerized games. Lack of consciousness about the concept of virtual reality technology in games, high initial investment, compatibility subjects of virtual reality devices or systems with consoles, 3-D effect discomfort and the danger of other physical and psychological sicknesses may pose a challenge to the otherwise growing business for virtual reality technology in video games.
The global virtual reality in gaming market has been categorized as component, type of gaming console, and geography. Component segment is further bifurcated into hardware and software. Similarly type of console segment is again divided as Xbox, Personal Computer, Mac, PlayStation, And Nintendo Wii. By geography, the global virtual reality in gaming market is segmented into North America, Europe, Asia-Pacific, and Rest of the world (RoW). The U.S., Canada, and Mexico are covered under North America wherein Europe covers UK, Germany, France, Italy, and others. Asia-Pacific covers China, India, Japan, South Korea, and others. Rest of the World covers South America, Middle East, and Africa.
Key players in the global virtual reality in gaming market are Sony Corporation, Google Inc., Oculus VR, LLC, Microsoft Corporation, Samsung Electronics Co., Ltd., HTC Corporation, EON Reality Inc., Vuzix Corporation, CyberGlove Systems Inc., and Sixense Entertainment, Inc., among others.
The key takeaways from the report:
The report will provide a detailed analysis of Global Virtual Reality In Gaming Market with respect to major segments such as component, type of console and geography
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The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Global Virtual Reality In Gaming Market from 2015 to 2024 has been included in the report
Profile of the key players in the Global Virtual Reality In Gaming Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of Virtual Reality In Gaming Market:
Type of Gaming Console Segments
By Geographical Segment
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