VR Gaming Console Market – Introduction
VR gaming refers to the application of computer technology to create a simulated environment for computer games. Virtual reality games are played on specialized game consoles that can power VR gaming accessories such as VR headsets, hand controllers, and more. Demand for VR gaming consoles is increasing as consumers are looking for more sources of entertainment due to increase in their spending capacity and are engaging more in playing virtual reality games.
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Key Drivers of the VR Gaming Console Market
- Virtual reality games have gained immense popularity among the masses, encouraging developers to make products that are more exciting and engaging for consumers. This offers significant opportunities to companies in the global VR gaming console market.
- Advanced wireless technologies in VR gaming consoles including Wi-Fi, and Bluetooth give users an enhanced gaming experience and eliminates the use of wired accessories. This factor is expected to increase the demand for VR gaming consoles and help in its market growth.
Factors Restraining the VR Gaming Console Market
- Playing VR games for longer period of time can cause health issues such as visual fatigue, and pain in the neck. Also, consumers hesitate to buy VR gaming consoles due to their high cost, which hampers the growth of the VR gaming console market.
- Although the application of virtual reality has expanded in recent years, there are many people who do not use VR products mostly because of their complexity. The difficulty or complexity involved in the operation of VR gaming consoles reduces its demand among consumers.
Key Players Operating in the VR Gaming Console Market
The global VR gaming console market is highly competitive, owing to the presence of several global and regional players. Major players are adopting various strategies such as regional expansion and product portfolio expansion to consolidate their position in the market. A few key players operating in the global VR gaming console market are:
- ZEISS Group
- Xiaomi
- Virtuix Omni
- Sony Corporation
- Oculus
- Samsung
- HP Development Company
- Microsoft Corporation
- HTC Corporation
- Nintendo
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Global VR Gaming Console Market: Research Scope
Global VR Gaming Console Market, by Type
- Handheld Consoles
- Home Consoles
Global VR Gaming Console Market, by Storage Capacity
- Under 250 GB
- 250 GB – 500 GB
- Above 500 GB
Global VR Gaming Console Market, by End-user
- Commercial
- Residential
Global VR Gaming Console Market, by Distribution Channel
- Online
- E-commerce Websites
- Company Owned Websites
- Offline
- Supermarket/Hypermarket
- Specialty Stores
- Others
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