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The technological developments in gaming software and hardware are expected to drive the growth of the virtual reality in gaming market during the forecast period. Additionally, the varying lifestyles assisted by growing disposable incomes of consumers are expected to drive the demand of virtual reality in the gaming industry. The increasing expectation of users to experience real-time environment of games is another growth driver of the global virtual reality in gaming market. The real time experience creates a strong impression of real life gameplay, which has led to the development of advanced gaming consoles. The realistic depiction of players and environment during playing makes gameplay more attractive for consumers. Moreover, the image and graphic representation play an important role in providing a realistic gaming experience to the users. The advanced technologies, such as interactive graphics and 3D effects provide real-time experience to the gamer, due to which, the virtual reality in gaming market is estimated to grow in the near future.
Virtual reality provides real environment to the user, which can be experienced with the help of software and hardware. Hardware provides real time environment experience to the user and is an integral part of the virtual reality games. Virtual reality in gaming involves the use of graphics and sound technology in games. Virtual reality in gaming also involves wearable gaming consoles, where the gamer wears devices, such as glasses, gloves or head mounted display (HMD), as a part of their gaming experience. Virtual reality games provide 3D visuals and better graphics during gaming.
The growing popularity of online games is one of the major factors, driving the growth of the software games. The developers and publishers are putting considerable efforts in developing content and designing the game. These companies offer a wide range of virtual reality headsets and various hardware products, such as motion trackers, data suites, haptic devices, data gloves, 3D controllers, and stereoscopic 3D displays that can be used with virtual reality enabled consoles.
After the success of Xbox and Kinect, Microsoft Corporation invented Xbox 360 console for virtual reality games. Kinect Xbox motion trackers provide virtual reality involvement on the Xbox 360 console. In 2014, Sony PlayStation gaming consoles held a substantial share of the global virtual reality in gaming market. With the introduction of PlayStation VR (PS VR) in 2016, Sony PlayStation is expected to retain its dominance during the forecast period.
In 2014, North America dominated the global virtual reality in gaming market. The increasing adoption of advanced virtual reality gaming, and uninterrupted internet connectivity are some of the important factors, driving the growth of the global virtual reality in gaming market in the region. Activision Publishing Inc., Electronic Arts Inc., Kaneva, Linden Research Inc., and Nintendo are some of the competitors in the global virtual reality in gaming market. Technology giants, such as Sony Corporation, Oculus VR, and Microsoft Corporation are continuously making investments in the research and development of virtual reality hardware. The huge investments made by various other companies in virtual reality hardware are expected to boost the growth of the virtual reality in gaming market in the future.
Global Virtual Reality in Gaming Market Segmentation
By Gaming Console
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