Virtual Reality (VR) in Gaming Market Size & Share, by Device (Console/ Personal Computer (PC), Mobile, Standalone); Component (Hardware, Software, Content); End-user (Individual, Commercial Space) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

  • Report ID: 4405
  • Published Date: Feb 13, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2033

Virtual Reality in Gaming Market size is projected to surpass USD 54 Billion by the end of 2033, growing at a CAGR of 31% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of virtual reality in gaming was over USD 8 Billion.The growth of the market can primarily be attributed to the growing number of gamers worldwide. For instance, there were more than 2.5 billion gamers in the world in 2020.

VR gaming is used to describe a new generation of computer games with virtual reality (VR) technology that gives players a truly immersive, first-person perspective of game action. Participants both experience and influence the game environment through a variety of VR gaming devices and accessories, including VR headsets, sensor-equipped gloves, hand controllers, and more. At its simplest, a VR game might involve a 3-D image that can be explored interactively on a computing device by manipulating keys, mouse or touchscreen. With the recent advancements in gaming devices as well as VR systems the demand for VR systems is on the rise amongst the gamers, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the global virtual reality in gaming market during the forecast period. It is estimated that around 29% gamers in the United States owned a VR system in 2020.


Virtual Reality in Gaming Market
Get more information on this report: Request Free Sample PDF


Virtual Reality (VR) in Gaming Market: Key Insights

Base Year

2022

Forecast Year

2023-2033

CAGR

~ 31%

Base Year Market Size (2022)

~ USD 8 Billion

Forecast Year Market Size (2033)

~ USD 54 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
Get more information on this report: Request Free Sample PDF

Virtual Reality in Gaming Sector: Growth Drivers and Challenges

Market-Growth-Drivers

Growth Drivers

  • Upsurge in the Demand for VR Headsets –VR headsets is the only thing needed for playing VR games. The surge in the demand for VR headsets is expected to drive the demand for virtual reality in gaming. For instance, it is forecasted that the global annual unit sales of VR headsets in 2022 to reach more than 8 million units.
  • Growing Use of Virtual Reality (VR)– According to reports, in 2021, it was observed that over 58 million people in United States had used VR at least once in a month.
  • Rising Number of Mobile Game Players – As per the statistics, in 2020, 43% of all the time spent on smartphones went to gaming and there were over 2.5 billion people are mobile game players.
  • Surge in the VR Game Spending – VR game spending accounted for ~0.4 % of the total revenue generated by gaming hardware and software developers in 2020.
  • Increasing Number of Female Gamers – According to reports, in the United States, female to male ratio of hyper-casual players was estimated to be ~55% to ~45%, while ~43% female owing VR devices in 2021.

Challenges

  • Creation of VR Games and Devices is Expensive and Labor-intensive
  • Available VR Devices are Incompetent in Providing Full-fledged Experiences
  • VR Devices are Expensive for Modern Users


Virtual Reality In Gaming Segmentation

Device (Console/ Personal Computer (PC), Mobile, Standalone)

The global virtual reality in gaming market is segmented and analyzed for demand and supply by devices segment into console/PC, mobile, and standalone. Amongst these segments, the console/PC segment is anticipated to garner the largest revenue by the end of 2033, backed by the growing number of gamers playing VR games along with the surge in the players using console/PC for gaming worldwide. For instance, more than 70% of gamers in the United States who played video games were owning a console in 2020.

Major Macro-Economic Indicators Impacting the Market Growth

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Our in-depth analysis of the global market includes the following segments:

        By Device

  • Console/PC
  • Mobile
  • Standalone

       By Component

  • Hardware
  • Software
  • Content

       By End-User

  • Individual
  • Commercial Space

Want to customize this research report as per your requirements? Our research team will cover the information you require to help you take effective business decisions.

Customize this Report

Virtual Reality in Gaming Industry - Regional Synopsis

Regionally, the global virtual reality in gaming market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific is projected to hold the largest market share by the end of 2033, backed by the increasing game revenue in the region, along with largest gamers population. For instance, there were approximately 1.5 billion gamers in the Asia Pacific region with China having over 665 million gamers in 2020, the biggest number of gamers in the region and the world.

Research Nester
Virtual Reality in Gaming Market Size
Get more information on this report: Request Free Sample PDF

Companies Dominating the Virtual Reality in Gaming Landscape

top-features-companies
    • HTC Corporation
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis 
    • Nintendo Co., Ltd.
    • Google Inc.
    • Samsung Electronics Co. Ltd.
    • Fove Inc.
    • Sony Interactive Entertainment LLC
    • Razer Inc.
    • Microsoft Corporation
    • Sega Corporation
    • Electronic Arts Inc.
    • VR World Limited

In-the-news

In The News

  • HTC Corporation - HTC VIVE has announced that its VIVE Pro Eye will be available for sale in North America on vive.com and at select retail stores. The VIVE Pro Eye, features the latest in eye tracking technology and sets a new standard for enterprise VR. VIVE Pro Eye will be used by various industries for numerous benefits including gaming, and simulation, among others.

  • Nintendo Co., Ltd., - NintendoLife has launched its latest creation, a Labo VR interpretation of the stellar mechanics and movement of first-person shooter DOOM Eternal. It is a charming toolset that will enable Switch owners to create their own rudimentary games using easy-to-learn node-based tools that originally debuted as part of the Nintendo Labo series.


Author Credits:  Abhishek Verma, Hetal Singh


  • Report ID: 4405
  • Published Date: Feb 13, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing number of gamers as well as rising use of VR along with increasing number of female gamers are some of the major factors anticipated to drive the growth of the market.

The market is anticipated to attain a CAGR of ~31% over the forecast period, i.e., 2023-2033.

Creation of VR games and devices are expensive as well as labor-intensive also available VR devices are incompetent in providing full-fledged experiences are some of the factors estimated to hamper the market growth.v

The market in Asia Pacific is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are Google Inc., HTC Corporation, Nintendo Co., Ltd., Samsung Electronics Co. Ltd., Sony Interactive Entertainment LLC, Razer Inc., Microsoft Corporation, and others.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by devices, component, end-user, and by region.

The console/PC segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
Virtual Reality in Gaming Market Report Scope
  GET A FREE SAMPLE

FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.

 Request Free Sample Copy

Have questions before ordering this report?

Inquiry Before Buying