Global Virtual Reality Gaming Market is Estimated to Value Over USD 42 Billion by 2026 End

  • 04 Sep 2019

Global Virtual Reality Gaming Market is estimated to value over USD 42 Billion by 2026 end and register a CAGR of over 28.9% during the forecast period 2019 to 2026.

 Virtual reality gaming has multiple advantages like the ability to physically involve the gamers in real-time, can digitally extend reality anytime and anywhere. Moreover, it looks appealing to occasional gamers and avid players which thus increases the sales revenue of gaming companies. Most importantly, the immersive experience that VR games offer enhances user engagement. All these factors are responsible for the global virtual reality gaming market growth.

 

However, playing virtual reality games is physically taxing and dedicated gamers tend to play for long hours which can cause some serious physical and mental harm considering how it would become difficult to differentiate between virtual and real environment which makes it a restraining factor for the global virtual reality gaming market growth. 

 

Adventure Gaming Segment to Gain Significant Growth Over the Forecast Period   

According to Statista, adventure VR games share over 73% of interested respondents thus making it the most popular genre among the consumers in the United States. Furthermore, over 48% of respondents were interested in playing VR racing games thus making it second to the adventure genre of VR games. 

 

Rocksteady Studios collaborated with Warner Bros. Interactive Entertainment to launch ‘Batman: Arkham VR’ in October 2016 worldwide for Sony’s PlayStation 4 and in April 2017 for Microsoft Windows. This game focused on using Batman’s gadgets and skills to solve puzzles and explore the immediate environment. It is a first-person game which can be played using PlayStation VR, Oculus Rift, HTC Vive VR headsets and their controllers. Such immersive experience from a game on Batman, a widely popular DC universe character, gained its immense popularity worldwide and got impressive sales revenues. Although the game lacked some substantial plot points, the sheer engaging experience into the DC universe was good enough to garner an audience. 

 

Horror games is another genre where VR technology can be effectively used. Capcom’s ‘Resident Evil 7: Biohazard’ is a first-person survival horror VR game which became the most popular game of the ‘Resident Evil’ franchise owing to the immersive experience that it offers. It can be played on PlayStation VR which has various control settings to alleviate sudden movements which may cause motion sickness for certain users. Another VR game, 'Paranormal activity: Lost soul', has adaptive scare mechanism which provides varied experiences for different users which is a unique prospect of the game. 

 

One of the biggest game studios, Bethesda, launched their most popular game ‘Fallout 4 VR’, the best game of the franchise in VR. It is the longest VR game available and it provides some great details regarding the portrayal of the abandoned city of Boston. This game is currently available on Steam and such adventure games are the reason for the dominance of the adventure games segment.

 

Competitive Landscape:

Key Market Players include Google, Samsung, Oculus, HR, HTC, Razer, GoPro, AMD, NVIDIA, Zeiss International, Qualcomm, Fove, Facebook.

Zeiss recently launched a new mobile VR headset, VR One, that makes users utilize the power of PCs, but without the hassle of having full VR setups. VR One is less expensive when compared to HTC Vive, which requires a room full of setup. Zeiss VR One allows users to play SteamVR games on mobile thus making it more accessible than something like HTC Vive. Such a unique product shall help Zeiss gain significant market traction over the forecast period. But this device still needs a PC to stream games directly which is a slight disadvantage. 

 

Oculus is apparently working on a VR headset which is so-called ‘Pacific’, which will reduce the gap between entry-level mobile-based VR and high-end headsets which need an expensive PC for its functioning. This device will be made by Xiaomi which shall initiate an entirely new category. It is reportedly lighter than Samsung’s Gear VR headset and Oculus Rift, but it will offer powerful graphics than the aforementioned devices thanks to a yet-unspecified Qualcomm Snapdragon CPU. The only disadvantage this device shall have is the unavailability of positional tracking, a feature present in Google’s Daydream VR headsets which they will include in the second generation of ‘Pacific’. The launch date for the device isn’t announced, but it is reported that ‘Pacific’ will be launched in October and according to The Verge, the device shall be launched at the company’s Oculus Connect 4 event. 

 

 FutureWise Key Takeaways:

· With companies like Oculus getting into launching their exclusive games, like ‘Lone Echo II’, shall massively expand the market owing to the seamless integration of in-house hardware and software

· More PC games are re-launched with VR support, like ‘Resident Evil 7: Biohazard’, which shall increase the consumer base significantly considering a huge fan base for these games which shall augment the market growth 

 

Global Virtual Reality Gaming Market Segmentation: 

By Platform

· Software

· Hardware

 

By Device

· Personal Computers

· Gaming Consoles

· Mobile Devices

 

By Age Group

· Adults

· Children

 

By Game Type

· Adventure

· Fighting

· Shooting

· Mystery Thriller

· Puzzle

· Science Fiction

· Others

 

By Region

· North America

· Europe

· Asia Pacific

· Middle East & Africa

· Latin America

 

Objectives of the Study:

· To provide with an exhaustive analysis on the global virtual reality gaming market by platform, by device, by age group, by game type and by region

· To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)

· To evaluate and forecast micro-markets and the overall market 

· To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, Middle East & Africa and Latin America

· To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions

· Profiling of companies to evaluate their market shares, strategies, financials and core competencies

 

Get unlimited analyst support and customise this study further to your requirements, contact sales@futurewiseresearch.com