Pune, Nov. 27, 2019 (GLOBE NEWSWIRE) -- The increasing R&D investments by key players is expected to enable growth of the market, says Fortune Business Insights in a report, titled “ Virtual Reality in Gaming and Entertainment Market Size, Share & Industry Analysis, By Component (Hardware, Software, and Content), By Device (Mobile, Console/PC, and Standalone), and Regional Forecast, 2019-2026.” The virtual reality in gaming and entertainment market size stood at USD 4.15 Billion in 2018 and is expected to reach USD 70.57 Billion by 2026, exhibiting a remarkable CAGR of 40.1% between 2019-2026.
As per the report, on the basis of device, the virtual reality in the gaming and entertainment market is segmented into mobile, console/PC and standalone. The mobile/phones segmented is expected to gain a huge share in the market owing to the rising popularity of phone-based VR. VR has also become a key field of new 5G commercial use. Furthermore, the rising focus of major companies towards the development of VR in mobile phones will contribute growth. For instance, ICT giants such as Google, Apple, Facebook, virtual reality has become the mainstream of the market. Extended reality is an umbrella term for VR and AR technologies, which are becoming an emerging market within the industries. VR has become the development focus in the mobile internet evolution era towards artificial intelligence.
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In addition, the increasing demand for console/PC games will create lucrative growth opportunities for the market. The rising focus of developers and researchers towards the integration of fully immersive VR games and pre-installed console/PC games will further aid the segment growth during the forecast period.
The report provides an all-encompassing summary of the virtual reality in the gaming and entertainment market. An elaborative study of innovations and developments along with recent market trends. It discusses every aspect in detail and provides factual data for the same.
Increasing Technological Advancements in Optical Devices Will Favor Growth
The increasing technological advancements in optical devices such as optical trackers including beacon trackers, pattern recognition, laser ranging, and others is expected to stimulate the growth of the market. The advancement in mechanical trackers, 3D input devices have significantly expanded the market size. Furthermore, the virtual reality in gaming and entertainment market trends include increasing partnerships between key companies. For instance, NextVR, provider of broadcasting live events in virtual reality, announced a partnership with Central Station Records to bring an unprecedented music experience to the public. This partnership primarily aims to provide on-demand virtual reality experience featuring renowned musical groups. However, lack of social VR games, accessibility, and inadequate VR content may restrict the market growth during the forecast period
Launch Of Oculus Rift S By Oculus VR Will Aid Expansion
Oculus VR announced Oculus Rift S, a virtual reality head-mounted display. The Rift S requires a PC like the original Rift. All games available on the original Rift work seamlessly on the Rift S. Regardless of the similarities, the Rift S is an entirely new headset with different hardware, inside out tracking, and different controllers. The launch of the new virtual reality head-mounted display is predicted to accelerate the growth of the market. Furthermore, the announcement of NextVR’s content on the STEAM platform is predicted to propel the growth of the market. For instance, NextVR has announced to bring its portfolio of sports and entertainment content to STEAM, a platform for digital entertainment. With the NextVR app available on the STEAM platform users can enjoy on-demand and live immersive virtual reality experience.
List of the Key Companies Operating in The Virtual Reality in Gaming and Entertainment Market are:
- Facebook Technologies, LLC.
- Nvidia Corporation
- Wevr
- HTC Corporation
- Unity Technologies
- Microsoft
- Samsung
- Magic Leap, Inc.
- WorldViz
- NextVR Inc.
- EON Reality, Inc.
- Firsthand Technology Inc.
- Apple Inc.
- Sony
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Table of Content:
- Introduction
- Definition, By Segment
- Research Approach
- Sources
- Executive Summary
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends
- Key Insights
- Macro and Micro Economic Indicators
- Consolidated SWOT Analysis of Key Players
- Value Chain Analysis
- Global Virtual Reality in Gaming and Entertainment Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Size Estimates and Forecasts
- By Component (Value)
- Hardware
- Software
- Content
- By Device (Value)
- Mobile
- Console/PC
- Standalone
- By Geography (Value)
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
- By Component (Value)
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