Virtual Reality (VR) in Gaming Market Size Worth USD 142.87 Billion By 2032 | CAGR: 21.2%

The global virtual reality in gaming market size is expected to reach USD 142.87 billion by 2032, according to a new study by Polaris Market Research. The report “Global Virtual Reality (VR) In Gaming Market Share, Size, Trends, Industry Analysis Report: Information By Component (Hardware, Software), By Connecting Device, By User, And By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The burgeoning financial support from tech companies and gaming studios is proving instrumental in driving the growth of virtual reality (VR) in gaming market. This influx of funding is accelerating the development and widespread adoption of VR technologies. Major players in the tech industry and gaming sector are dedicating significant resources to research and development efforts aimed at refining VR hardware and software, which is yielding increasingly sophisticated and user-friendly VR headsets, controllers, and immersive gaming environments. Moreover, the expanding user base in the video game industry is a key factor fueling the proliferation of VR in gaming market, prompting a surge in demand for immersive gaming experiences and a broader customer demographic.

Moreover, the rising demand for advanced electronic games among young millennials is expected to contribute to market growth. Millennials being tech-savvy, have a strong interest in the latest advancements in electronic gaming, including virtual reality (VR) experiences. Their desire for sophisticated and immersive gaming content, combined with the adoption of technologies, is leading to a surge in demand for innovative electronic games. This trend is compelling developers and manufacturers to continuously improve and introduce new features, thereby fueling the growth of virtual reality (VR) in gaming market.

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The surge in popularity of virtual reality (VR) games is evident among non-traditional gaming demographics, especially in regions like China and India. Users are spending extensive time engaging with virtual reality (VR) content on their smartphones, primarily due to the widespread use of these devices as primary gaming platforms in these markets. The accessibility and convenience of mobile devices for virtual reality (VR) gaming have broadened the user base beyond dedicated gaming consoles or PCs, making virtual reality (VR) experiences more inclusive and attractive to a wider audience.

Virtual Reality in Gaming Market Report Highlights

• The market was led by the hardware segment in 2023, owing to its crucial contribution to facilitating the immersive experiences characteristic of virtual reality (VR) in gaming. Key components of virtual reality (VR) hardware, such as headsets, controllers, motion sensors, and haptic feedback devices, are integral in establishing realistic and interactive environments that appeal to gamers.
• The market is poised for substantial growth in the individual user segment, primarily driven by VR technology's growing accessibility and affordability.
• The North American virtual reality (VR) in gaming market is a dominant region in the global market due to its advanced technological infrastructure, strong presence of major tech companies and game developers, and high consumer adoption rates.
• The global key market players include Electronic Arts Inc., Google, HTC Corporation, Linden Research, Inc., Meta, Microsoft, Nintendo, Qualcomm Technologies, Inc., Samsung, Sony Interactive Entertainment LLC, Virtuix, etc.

Polaris Market Research has segmented the virtual reality in gaming market report based on component, connecting device, user, and region:

Virtual Reality in Gaming, Component Outlook (Revenue - USD Billion, 2019 - 2032)

• Hardware
• Software

Virtual Reality in Gaming, Device Outlook (Revenue - USD Billion, 2019 - 2032)

• Gaming Console
• Laptop/Desktop
• Smartphone

Virtual Reality in Gaming, User Outlook (Revenue - USD Billion, 2019 - 2032)

• Commercial Space
• Individual

Virtual Reality in Gaming, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands
• Rest of Europe

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia
• Australia
• Rest of Asia Pacific

• Latin America

• Argentina
• Brazil
• Mexico
• Rest of Latin America

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa
• Rest of MEA

Virtual Reality (VR) in Gaming Report Scope: