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Report Overview
The global virtual reality gaming market size reached USD 35.29 billion in 2023. The market is expected to grow at a CAGR of 29.7% between 2024 and 2032, reaching almost USD 365.75 billion by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- The International Trade Administration reported the global video game market to be worth $159 billion in 2020, with 2.7B gamers worldwide, thus enhancing the global virtual reality gaming market growth.
- VR gaming is utilised for therapeutic purposes like rehabilitating individuals and addressing phobias, and anxiety disorders. It's also employed in military training to enhance strategy skills.
- According to the China Audio Video and Digital Publishing Association, China's gaming industry in 2020 was led by mobile games.
Virtual Reality Gaming Market Trends
VR gaming enhances engagement, skills development, and practical applications like rehabilitation and training.
Virtual reality (VR) gaming immerses players in an artificial, three-dimensional (3D), computer-generated environment using specialised equipment. This technology offers a complete 360-degree view of the virtual world, keeping players engaged for longer periods than traditional gaming. It requires strategic thinking, problem-solving, and hand-eye coordination, fostering the development of diverse skills.
VR gaming also serves practical purposes such as rehabilitation and treating conditions like phobias and anxiety disorders. Additionally, it is utilised in military training to simulate combat scenarios and enhance soldiers' skills in strategy and decision-making, thus shaping new trends in the virtual reality gaming market.
As per the International Trade Administration, the number of estimated gamers worldwide is 2.7 billion gamers. In the United States, about three-quarters of households include at least one person who considers themselves a gamer, thus boosting the global virtual reality gaming industry.
Virtual Reality Gaming Market Report Snapshots
Virtual Reality Gaming Market Size
Virtual Reality Gaming Market Trends
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market is estimated to be valued at USD 35.29 billion in 2023.
The market is projected to grow at a CAGR of 29.7% between 2024 and 2032.
The revenue generated from the virtual reality gaming market is expected to reach USD 365.75 billion in 2032.
Technological progress, advanced gaming experiences, multiplayer interaction, and cloud-based gaming drive the virtual reality gaming market.
The virtual reality gaming market is categorised according to its component, which includes software and hardware.
The major players in the global virtual reality gaming market are Sony Corporation, Meta, Nintendo, HTC Corporation, Samsung Electronics Co., Ltd., Electronic Arts Inc., Ultraleap, and Microsoft Corporation among others.
Based on the device, the virtual reality gaming market is divided into personal computers, gaming consoles, and mobile devices.
The major areas include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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