Virtual Reality (VR) in Gaming Market Share, Size, Trends, Industry Analysis Report, By Component (Hardware, Software); By Device (Smartphone, Gaming Console, Laptop/Desktop); By Regions; Segment Forecast, 2021 - 2028

Virtual Reality (VR) in Gaming Market Share, Size, Trends, Industry Analysis Report, By Component (Hardware, Software); By Device (Smartphone, Gaming Console, Laptop/Desktop); By Regions; Segment Forecast, 2021 - 2028

The global virtual reality in gaming market size is expected to reach USD 158.04 billion by 2032, according to a new study by Polaris Market Research. The report “Virtual Reality in Gaming Market Share, Size, Trends, Industry Analysis Report, By Component, By Connecting Device (Gaming Console, PC/ Desktop, Smartphone), By User (Commercial Space, Individual), By Region, And Segment Forecasts, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The market is experiencing a substantial demand for recreational activities set in a 3D environment, particularly among the younger generations, fuelled using compact VR gaming devices. The inclination towards a heightened and immersive experience through the integration of immersive technology into VR simulations of 3D environments is a key driver for market growth. The continuous innovation in the VR space, coupled with the development of a diverse range of virtual reality games, is attracting gaming enthusiasts globally. The enhanced gaming experience, facilitated by interactive video games, appealing VR accessories, & 3D realistic environments, is expected to foster the growth of the market.

The increasing demand for technologically advanced electronic games among millennials is expected to propel market growth. Millennials, being a tech-savvy demographic, are particularly drawn to the latest advancements in electronic gaming, including virtual reality (VR) experiences. The desire for more sophisticated and immersive gaming content, coupled with the adoption of cutting-edge technologies, contributes to the surge in demand for innovative electronic games. This trend is driving developers and manufacturers to continually enhance and introduce new features, thereby fuelling the growth of the gaming market.

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The swift progress in the evolution of virtual reality peripherals compatible with desktops and game consoles is expected to fuel industry growth. The entry of numerous startups into the virtual reality gaming sector is likely to lead to a heightened demand for wearable components such as Head-Mounted Displays (HMDs), body suits, motion trackers, & gloves by the gaming enthusiasts. These devices are typically introduced in phases, initially rolling out in select countries. For instance, the HTC Vive was initially launched for commercial availability in only 24 countries.

VR games are experiencing a surge in popularity among a new demographic of users who may not traditionally identify as gamers. This shift is particularly notable in regions like China and India, where consumers are increasingly dedicating numerous hours to VR content on their smartphones. The growth can be attributed to the widespread adoption of smartphones and tablets as primary gaming devices in these markets. The accessibility and convenience of using mobile devices for VR gaming have expanded the user base beyond dedicated gaming consoles or PCs, making VR experiences more inclusive and appealing to a broader audience.

Virtual Reality in Gaming Market Report Highlights

Hardware segment will grow with rapid pace, primarily due to rapid advancements in wearables such as body suits, input devices & gloves

Commercial segment garnered the largest share, due to increase in online gaming tournaments & associated prize money

Asia Pacific will grow rapidly, primarily due to the presence of huge young population seeking enhanced gaming experiences

The key market players include Electronic Arts, Google, HTC Corporation, Lucidcam.com, Meta, Nintendo.Games, Tesla Studios, Ultraleap Limited, and Virtuix.

Polaris Market Research has segmented the virtual reality in gaming market report based on component, connecting device, user, and region:

Virtual Reality in Gaming, Component Outlook (Revenue - USD Billion, 2019 - 2032)

Hardware

Software

Virtual Reality in Gaming, Connecting Device Outlook (Revenue - USD Billion, 2019 - 2032)

Gaming Console

PC/Desktop

Smartphone

Virtual Reality in Gaming, User Outlook (Revenue - USD Billion, 2019 - 2032)

Commercial Space

Individual

Virtual Reality in Gaming, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America

• U.S.
• Canada

Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

Latin America

• Argentina
• Brazil
• Mexico

Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa