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The global virtual reality (VR) in gaming market report provides an analysis of the market by components (hardware and software), by compatibility (mobile devices, gaming console, and PC), and by geography (the Americas, APAC, and EMEA). The report also provides an analysis of the market’s competitive landscape and offers information on several companies including Fove, Google, HTC, Oculus VR, Razer, Samsung, Sony, and Zeiss International.
Below are some of the key findings from our analysis of the virtual reality (VR) in the gaming market
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The global virtual reality in gaming market research predicts the market to grow steadily during the next four years and post a tremendous CAGR of more than 84% by 2020. The increasing awareness of VR technology is one of the primary virtual reality in gaming market drivers. The virtual reality market is highly competitive and consists of major players including Samsung Electronics, Sony, and Google. The acquisition of the leading VR company Oculus by Facebook and Google’s investment in Magic Leap are some of the major developments in the market that increased the awareness of VR technology among consumers. A few smartphone manufacturers have also started offering VR headsets that can be integrated with their products.
In terms of geographical regions, the Americas will be the major virtual reality in gaming market revenue contributor throughout the next four years. North America was the major contributor to the market during 2015, where the rise in sales of tablets and gaming consoles was the major factor in driving market growth. The adoption of VR technology by tech giants such as Sony and Microsoft and the presence of companies such as Apple and Google that have a large user base in the mobile gaming segment will fuel the growth of the market in this region.
The market is still at the nascent stage and leading virtual reality companies are constantly focusing on introducing innovative devices to cater to the needs of specific segments. For instance, Oculus VR has already introduced a VR device for PC gamers and Samsung Electronics introduced Samsung Gear VR to capture the mobile gaming market. Product pricing comes as major factor for the growth of a vendor and the introduction of low-cost VR devices by tech giants such as Google, will intensify the market’s competitive environment. Furthermore, several companies such as Oculus VR and the tech giants such as Samsung, Sony, and Google are increasingly focusing on acquiring smaller companies, which will help them increase their revenue shares.
According to the virtual reality in gaming market analysis, the leading vendors in the market are -
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According to this virtual reality in gaming market research, the software segment will account for the major shares and dominated the market by the end of the forecast period. Though the hardware segment currently dominates the market, the increased awareness among the customers about VR technology will result in the rise in sales of virtual reality games and apps, subsequently driving the growth of the market segment.
During 2015, the PC segment accounted for the major shares and dominated the market. PC-based games integrated with VR provide an attractive experience by allowing the player to experience, interact, and control actions in the virtual world with the help of virtual controllers. According to analysts, this segment will continue its market dominance throughout the next four years as well.
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Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
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