The global augmented reality & virtual reality in gaming market ecosystem was valued at US$ 1340.2 Mn in 2018 and is expected to reach US$ XX Mn by 2023 with a CAGR of 26.6%during the forecast period. The immersive and interactive experience provided by VR games to users is expected to drive the growth of the market. VR racing games, shooter games, horror games, adventure games, and others are some of the various types of VR games. The rising penetration of smartphones and the internet has also been accentuating the growth of augmented reality games in recent years. However, health-related issues such as eye problems, simulator sickness, and others associated with augmented reality & virtual reality games are restraining market growth.The growing demand for VR-enabled fitness games will create opportunities for augmented reality & virtual reality in gaming industry during the forecast period. Nowadays, products such as Oculus Rift and Oculus Quest are gaining attention among fitness studios. As VR gears are expensive, they are mainly in demand among fitness studios rather than among individuals. Thus, there is an increase in the number of VR fitness games like Knockout League by Grab Games and The Thrill of the Fight by Ian Fitz.
A comprehensive analysis of contemporary trends, demand spectrum, growth rate, and key region-wise Location-based Virtual Reality market exploration has also been embodied in this report.Country-level analysis , integrating the demand and supply forces that are influencing the growth of the Location-based Virtual Reality Market.
Ecosystem Snapshot: Augmented reality & virtual reality in Gaming Market Overview
The head-mounted display segment dominated the market in 2018 and is expected to show similar trends in the coming years. The rising trend of playing VR games by children, coupled with increasing investments in gaming across the world, is driving the growth of this segment. Worldwide spending on gaming is expected to increase by 9.6% year on year. Moreover, Dubai Internet City, an information technology park developed by the government of Dubai, is planning to invest in the gaming industry in order to improve the gaming sector of the country. This, in turn, is expected to create demand for HMD gaming in Dubai. Further, the handheld segment is expected to grow at the fastest pace with a CAGR of XX% during the forecast period.
Startup Varjo is Creating a Bionic display lets you see VR as clearly as you see the real world because it works just like the human eye does.
Augmented Reality & Virtual Reality in Gaming Market Ecosystem: SegmentationProducts, Parts & Devices Software & Services
3D Modelling/ Design- Shopping
3D modelingSmart Glass
Global Augmented Reality & Virtual Reality in Gaming Market EcosystemBased on regions, North America dominated the market in 2018 and is expected to show similar trends in the coming years. The increasing use of virtual reality by Americans is expected to drive the growth of the augmented reality & virtual reality gaming industry in the region. According to market statistics, 78% of Americans have started getting familiar with VR technology in recent days, which is expected to propel the VR gaming industry in the region. Asia Pacific is expected to grow at the fastest pace with a CAGR of XX% during the forecast period. Increasing consumer spending on gaming is driving the growth of the augmented reality & virtual reality in gaming industry across the APAC region. In the APAC region, 19.3% of overall AR VR spending came from gaming in 2019, which is expected to drive the growth of the segment during the forecast period.
The major players in the augmented reality & virtual reality in gaming Market are mainly focusing on mergers and acquisitions, product expansion, partnerships, and other such strategies for strengthening their market presence. Sony dominated the VR technology and had accounted for 1.7 million shipments in 2017, which is followed by Oculus and HTC. HTC accounted for the shipment of approximately 800,000 units of VR devices, while Oculus accounted for the sale of approximately 1.7 million units of VR products in 2019.
The Royals Are Also Using It. You know that virtual reality is big when highly prominent people are also getting in on it. In March 2018, Prince Harry and Meghan Markle honored International Women's Day by encouraging young women to study science and technology. In the process, they attended a school and tested out a virtual reality set. The couple had a positive experience with virtual reality. They both appeared to enjoy learning about the technology and how the headset works.
Augmented Reality & Virtual Reality in Gaming Market ecosystem: Market Statistics Glimpse
There are many trends that are having an impact on the market forecast. These, when evaluated from a company’s perspective, can drive growth. Our numerous consulting projects have generated sizeable synergies across all regions and all sizes of companies.
Augmented Reality & Virtual Reality in Gaming Market: Key Players
AR VR Industry
19 Most-Read ARPost Articles of 2019
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GlobalVery few markets have interconnectivity with other markets like AR VR. Our Interconnectivity module focuses on the key nodes of heterogeneous markets in detail. Display and imaging technologies, 3D modeling, AR/VR Screen, Smart Kiosks, and Gaming markets are some of our key researched markets
All Generations Love It. While some critics view virtual reality as something only young people like, it turns out that even previous generations largely approve of the technology. Currently, millennials are the generation most likely to embrace virtual reality, but apparently older generations are also getting on the bandwagon. One study found that a majority of baby boomers have a favorable perspective of virtual reality. A big reason behind the popularity is the versatility of many virtual reality systems.
Augmented reality & Virtual reality in Gaming Market Ecosystem Major Interconnectivity
A Glance on Global Augmented Reality & Virtual Reality in Gaming Market Ecosystem Trends:
ProductsService & Solutions
Rising demand for mixed reality among companies, owing to its increased adoption in the gaming and entertainment industry.
Augmented Reality & Virtual Reality in Gaming Market Ecosystem: Standard Research Methodology
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