Global Virtual Gaming Market Research and Forecast 2018-2023

Posted by Orion Market Research on July 23rd, 2018

The Virtual gaming market is projected to witness a rapid growth at a CAGR of 22% during the forecast period. Rising growth of virtual gaming and increasing technological advancements in VR & AR gaming are the key forces that are driving the global market. Improvement in the 3D multimedia graphics performance has also played a vital role in the growth of the global virtual gaming market. Virtual reality games for smartphones are estimated to be the dominating sectors after development in gaming consoles across the globe. Gaming consoles are predicted to appear as the most preferred devices due to the presence of efficient processors as compared to desktops and smartphones. The VR technology is expected to hold the largest market share and lead the virtual gaming market between 2018 and 2023. The VR technology is used for applications such as gaming and entertainment. The use of VR technology in various gaming types such as PC gaming, gaming consoles, internet games, smartphones, and tablets is estimated to drive the virtual gaming market.

Safety issues, harmful addiction, rising possibility of accidents, and high cost of VR devices are hampering the growth of the virtual gaming market. Further, some of the countries are going to restrict the use for younger population after reports of critical behavior from game addiction. Other factors such as loss of interaction and communication with real world are considered as factors, which may affect the growth of the global virtual gaming market.

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Global virtual gaming market can also be bifurcated on the basis of geography, including North America, Asia Pacific, Europe and Rest of the World. North America leads the global virtual gaming market with a market share of over 30% in 2016 and is projected to continue its dominance during the forecast period. The growth of the region is backed by the fact that AR now appears largely focused on an enterprise user in 2016, with most consumers joining the interface and expanding the market share. There is much scope for innovation in AR and VR technology in the US. However, APAC is expected to be the fastest growing region in the global virtual gaming market due to rising popularity of virtual games and significant development within the region.

Browse full report at: Global Virtual Gaming Market Research

The report includes detailed market overview, market determinants, company profiling, market segmentation, geographical analysis, strategic recommendations, key company analysis, key findings, market estimations, market insights, and analyst insights.

The global virtual gaming market is considered to be influential and competitive due to the presence of a large number of market players. Some of the major players in global market include Google, Microsoft Corporation, Sony, Samsung, oculus VR, Nintendo Co., Ltd., and so forth. The key strategies adopted by the market players for strengthening their market share in global virtual gaming market includes mergers & acquisitions, development of innovative packaging technology, contracts & agreements, and geographical expansions.

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