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Virtual Reality in Gaming Market Trends

  • Report ID: GMI10364
  • Published Date: Jul 2024
  • Report Format: PDF

VR in Gaming Market Trends

One prominent trend in VR in the gaming industry is the expansion of social VR experiences. Virtual reality platforms are increasingly integrating social features such as multiplayer interactions, virtual hangouts, and collaborative gameplay. This trend reflects a growing preference among gamers for immersive social interactions within virtual environments, allowing them to connect with friends, meet new players, and participate in shared activities like virtual concerts or events. Platforms like VRChat and Rec Room exemplify this trend by offering customizable avatars, social hubs, and user-generated content that foster community engagement and socialization in virtual spaces.
 

For instance, Sites like VRChat demonstrate how social VR experiences are growing. With VRChat, users can personalize their avatars and communicate with people all over the world in virtual environments. An active online community is fostered by users' ability to take part in virtual dance parties, themed events, and gatherings virtually. This platform is a prime example of how social VR experiences are expanding from traditional gaming to include immersive virtual spaces for shared experiences, socialization, and creation.
 

The growth of location-based virtual reality entertainment establishments is another noteworthy trend. High-end virtual reality experiences that might be too expensive or space-intensive for home usage are made available to customers through these facilities. These facilities serve both casual gamers and VR entertainment lovers by offering immersive VR attractions like VR escape rooms, multiplayer gaming, and themed experiences. This trend takes use of the market for immersive, one-of-a-kind experiences that make use of state-of-the-art virtual reality technology and let users enjoy premium VR content without requiring additional hardware.
 

Examples are The VOID and VR arcades, which are a global phenomenon that offer carefully selected VR experiences that combine fun and cutting-edge technology. For instance, Dimension adventure is one of the multi-sensory, immersive virtual reality experiences that VOID provides in real-world settings. The combination of virtual reality technology and themed settings offers superior entertainment than personal VR systems. The success of VOID highlights the growing demand worldwide for high-end, location-based virtual reality experiences.

Authors: Suraj Gujar , Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

The market size of VR in gaming reached USD 4.59 billion in 2023 and will grow at 30% CAGR between 2024 and 2032, led by increasing technological advancements, and growing popularity of e-sports and VR-based social platforms.

The commercial segment will witness 33% CAGR through 2032, primarily due to significant investments by gaming companies in VR technology, and the adoption of VR for training and simulation purposes in various industries.

North America market captured 34% share in 2023, propelled by advanced technological infrastructure, the strong gaming culture, and high disposable incomes.

Some of the key market players are Meta, Sony Corporation, Microsoft Corporation, Nvidia Corporation, Google Inc., HTC Corporation, and Samsung Corporation, among others.

Virtual Reality in Gaming Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 24
  • Tables & Figures: 305
  • Countries covered: 21
  • Pages: 210
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