Virtual Reality in Gaming Market – Technology Growing Rapidly Due to High Quality Standards and Effective Features

A new report has been published by Transparency Market Research, titled Virtual Reality in Gaming Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 – 2019”. TMR, a market intelligence company based in the U.S., states that the virtual reality in gaming market was estimated at US$466.6 million in 2012 and is anticipated to reach US$5,839.9 million in 2019, expanding at a 39.2 % CAGR from 2013 to 2019. According to this report, the market for virtual reality in gaming is fuelled by numerous factors such as continuous advancements in gaming technologies, namely 3D effects, motion tracking, and user interactive graphics. The increase in disposable income is also a key factor augmenting the market, as with rising disposable incomes, individuals are inclined towards new innovative reality games and entertainment solutions to entertain themselves

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On the basis of component, the virtual reality in gaming market is segmented into two components, namely software components and hardware components. Among these two components, in 2012, the software segment was the biggest segment, representing a revenue share of 53.5% in the overall market for virtual reality in gaming.

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This segment is expected to retain its dominance in the market throughout the forecast horizon owing to consistent advancements in virtual reality technology. The hardware segment is predicted to experience exponential growth in the forecast horizon owing to the utilization of virtual reality products, namely hand gloves, head mounted displays (HMDs), and glasses.