Virtual Reality in Gaming Market Analysis

Device (Console/ Personal Computer (PC), Mobile, Standalone)

The global virtual reality in gaming market is segmented and analyzed for demand and supply by devices segment into console/PC, mobile, and standalone. Amongst these segments, the console/PC segment is anticipated to garner the largest revenue by the end of 2037, backed by the growing number of gamers playing VR games along with the surge in the players using console/PC for gaming worldwide. For instance, more than 70% of gamers in the United States who played video games were owning a console in 2020.

Major Macro-Economic Indicators Impacting the Market Growth

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Our in-depth analysis of the global market includes the following segments: