Abuzz with the steady influx of new and more innovative technologies and products, the global market for virtual reality in gaming features a highly dynamic vendor landscape and cut-throat competition among some of the leading and internationally most acclaimed gaming companies, observes Transparency Market Research in a recent report. Traditionally dominated chiefly by technology giants such as Apple, Sony, Microsoft, and Nintendo, the market is steadily becoming more fragmented as new, small and medium-sized companies as well foray into the market with innovative product offerings. However, powerful brand equity allows traditional leaders an upper hand, which continue to hold a significant share in the overall market.
Get sample copy of at: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=2513
For achieving recognition and consumers in the highly competitive market, companies need to put more emphasis on innovative marketing strategies and R&D activities aimed at the development of new product varieties. Focus on emerging regional markets with rising disposable incomes and improved networking infrastructures could also allow companies to gain a better footing in the market.
According to the report, the global virtual reality in gaming market is expected to exhibit an exponential CAGR of 39.2% CAGR over the period between 2013 and 2019, rising to a revenue opportunity of US$5.83 bn in 2019.
North America Remains Most Lucrative Regional Market
Of the key components of a typical virtual reality product made for gaming applications, the software segment presently accounts for the larger share as compared to the hardware segment. The trend continues to remain strong and the software is expected to retain its position as the leading contributor to the global market over the forecast period as well.
Geographically, the market in North America presently accounts for the dominant share in the overall market, thanks to the affluent consumer base and the large population of hobbyist as well as professional gamers in the region. The presence of some of the leading companies in the field and easy availability of newest versions of virtual reality products in the region also contribute to the strong growth prospects of the market. Over the forecast period, however, the market in Asia Pacific is expected to demonstrate massive development, thanks to the rising population of affluent middle-class people and the rising numbers of online gamers.
Rising Disposable Incomes in Emerging Economies Drive Market
Some of the key factors working in favor of the global market for virtual reality in gaming market are the vast advancements in technologies surrounding imaging, networking, and the increased availability of smart devices incorporated with a variety of sensors designed specifically for gaming applications. The market is also driven due to the vast rise in disposable incomes of people across emerging economies in the past few years. This scenario has led to a vast rise in target consumers for companies operating in the virtual reality in gaming market.
However, the high costs of advanced products is the key challenge ahead of the market, limiting it to a small share of affluent consumers. Nevertheless, the rising demand is compelling companies to introduce low cost products, allowing them to tap price-sensitive masses as well. In the near future, this trend will drive the market.
This analysis of the global virtual reality in gaming market is based on a recent market research report by Transparency Market Research, titled “Virtual Reality in Gaming Market (Component – Software, Hardware; Type of Gaming Consoles – Microsoft Xbox, Apple Mac, Sony PlayStation, Personal computer, Nintendo Wii) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013–2019.”
The market is segmented as follows:
Virtual Reality in Gaming Market, by Component
Virtual Reality in Gaming Market, by Type of Gaming Console from Different Manufacturers
- Microsoft Xbox
- Apple Mac
- Sony Play station
- Personal computer
- Nintendo Wii
Buy this Report at: https://www.transparencymarketresearch.com/checkout.php?rep_id=2513<ype=S
Virtual Reality in Gaming Market, by Geography
- North America
- Rest of the World
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
USA – Canada Toll Free: 866-552-3453
Email: [email protected]