New York, March 15, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Virtual Reality In Gaming Global Market Report 2022" - https://www.reportlinker.com/p06244968/?utm_source=GNW
, Razer Inc., Oculus HR, Microsoft Corporation, ZEISS Group, Advanced Micro Devices, Sega Corporation, Kaneva LLC, Nvidia, Qualcomm, bHaptics Inc. and Electronic Arts Inc.
The global virtual reality in the gaming market is expected to grow from $9.39 billion in 2021 to $12.13 billion in 2022 at a compound annual growth rate (CAGR) of 29.2%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $33.65 billion in 2026 at a CAGR of 29%.
Virtual reality in the gaming market consists of sales of virtual reality gaming hardware and software devices by entities (organizations, sole traders, and partnerships) that offer the ability to take players into the game in real-time. Virtual reality technology uses computing hardware, software, and other VR peripherals to create virtual environments that immerse the user in the game’s 3D environment.
The main types of components in virtual reality in gaming are software and hardware.The virtual reality gaming software builds immersive 3D environments which can be used in VR games.
The virtual world is created by software developers who create a virtual environment for users so that they can interact with the place and objects in that environment.The different types of games include racing, adventure, fighting, shooting, mystery thriller, puzzle, and science fiction and use various devices such as personal computers, gaming consoles, mobile devices.
It is used by several verticals including commercial space and individuals.
North America was the largest region in the virtual reality in gaming market in 2021. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increasing adoption of VR devices is driving the growth of virtual reality in the gaming market.Virtual Reality systems create a virtual experience that appears to be real, allowing the user to interact with the 3D world and feel the scenes and objects as if they were real.
In the latest generation of computer games, VR devices are employed to make the players feel immersed in the game.For instance, according to the Gaming & Media report, Oculus VR, a US-based company that develops virtual reality platforms and products sold over 1 million units of Quest 2 VR headsets in Q4 2020.
Therefore, the increasing adoption of VR devices is expected to propel the growth of virtual reality in the gaming market in the coming years.
5G-based VR cloud games are shaping virtual reality in gaming market. 5G VR cloud is a combination of cloud, virtual reality, and 5G connectivity in gaming. Major companies operating in virtual reality in gaming sector are focused on developing 5G based VR cloud games to offer customers low latency and high bandwidth services. For instance, in May 2020, Archiact, a Canada-based VR games studio merged with Migu Co. Ltd., a China-based consumer technology company to bring VR games to its 5G cloud gaming platform. Archiact states that by teaming with Migu, it will be able to work together to establish the vision of 5G VR cloud gaming, making VR even more available.
In February 2020, Facebook, a US-based social networking service company acquired Sanzaru Games for an undisclosed amount.This acquisition enabled Facebook’s persistent interest in propping up VR gaming firms and aligning them around their goals while allowing them to operate autonomously.
Sanzaru Games is a US-based video game development company.
The countries covered in the virtual reality in gaming market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06244968/?utm_source=GNW
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