Virtual Reality in Gaming Market Research Report- Forecast 2030

Virtual Reality in Gaming Market Research Report Information By Hardware (Headsets, Glasses, Devices, and Gloves), By Compatibility (MMOs, Smartphones, Casual Web Games, and Console), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Industry Size, Share and Forecast Till 2030

ID: MRFR/SEM/2181-HCR | 100 Pages | Author: Shubham Munde | March 2024         

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Global Virtual Reality in Gaming Market Overview:


Virtual Reality in Gaming Market Size was valued at USD 10.8 billion in 2022. Virtual reality in gaming industry is projected to grow from USD 14.2344 Billion in 2023 to USD 74.61594 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.72% during the forecast period (2023 - 2030). VR has improved the gaming experience by allowing gamers to enter their screens in real-time. The sector provides gamers with enticing virtual accessories that increase user engagement and immersive participation. Continuous advancements in existing technologies like motion tracking, 3D effects, and interactive visuals for attracting players are the key market drivers enhancing market growth.

Global Virtual Reality in Gaming Market Overview
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Virtual Reality in Gaming Market Trends




  • Increase in Cloud Technology Integration with Virtual Reality in Games to drive market growth




Market players are using cloud technology to improve the gaming experience. Cloud technology allows for the alteration of gaming libraries as well as the storage of games for rapid access to user profiles. Furthermore, the technology provides a comprehensive set of capabilities, such as live streaming, infinite storage capacity, and linked devices, accelerating the future of the online gaming sector. Cloud computing lowers the requirement for expensive offline gaming Discs and drives. Many gamers are turned off by the expensive initial expense of purchasing high-end gaming equipment; however, this is no longer the case with recent advances in cloud computing technologies.


VR gaming incorporates a 3D environment that allows the user on a computing device to sense the physical presence in the game settings by using a mouse, touch screen, and other components. VR technology's many attachments, such as virtual reality headsets, wrap-around display displays, virtual reality rooms outfitted with wearable computers, and sensory components, allow gamers to interact, see and move about the items in the game setting. According to a global study of technology executives, startup founders, investors, and consultants, 59% predict gaming would dominate investment in the development of VR technology. Therefore, With the help of new developments, the virtual reality gaming area is increasing its professional worth. Players are becoming more aware of cutting-edge VR equipment such as headsets, bodysuits, and gloves, which have recently enhanced the virtual reality in gaming market CAGR across the globe for years.


The fast development of virtual reality peripherals, which compatible computers and gaming consoles will support, is expected to fuel market growth. With multiple firms entering the virtual reality gaming field, the business for wearable components such as Head-Mounted Displays (HMDs), bodysuits, motion trackers, gloves, and so on is expanding, another factor driving the growth of the virtual reality in gaming revenue.


Virtual Reality in Gaming Market Segment Insights:


Virtual Reality in Gaming Device Type Insights


Based on hardware, the global virtual reality in gaming segmentation includes headsets, glasses, devices, and gloves. Throughout the projection period, the headsets segment is predicted to increase at a faster CAGR of global virtual reality in gaming revenue. The rising usage of virtual reality headsets, as well as increased investment by hardware makers in creating new VR-compatible gaming devices, are the primary reasons driving the growth of this category. According to a global study of technology executives, startup founders, investors, and consultants, 59% predict gaming would dominate investment in the development of VR technology.


The controller's sector is predicted to increase at the fastest CAGR throughout the projection period. The software segment is predicted to increase at a lower CAGR throughout the projection period. The main obstacle impeding this segment's growth is a lack of a substantial content library. This category includes middleware, engines, tools and applications.


April 2022: Researchers at UTSA established the first global Accessibility VR Game Jam, open to gamers with impairments. Nevertheless, because of COVID-19, they pushed too hastily to transition the game jam to an online-only setting.


Virtual Reality in Gaming Compatibility Insights


Based on Compatibility, the global virtual reality in gaming segmentation has been segmented into MMOs, smartphones, casual web games, and consoles. Throughout the projection period, the Gaming Console segment is predicted to increase at a CAGR of 9.6%. The growing number of gamers and the availability of a wide range of gaming consoles are the primary drivers driving the expansion of this industry. The growing popularity of VR gaming among hardcore gamers and the increasing acceptance of VR gaming by PC or desktop gamers are the primary reasons driving the growth of this industry. Throughout the projected period, the smartphone market is estimated to develop at a CAGR of 33.3% in virtual reality in gaming industry. The expanding availability of VR-enabled smartphones and the growing popularity of mobile gaming are driving the expansion of this industry. Smartphones are the less expensive choice, and they are growing more powerful. Yet, because of their small size, they cannot deliver the same immersion as a PC/desktop.


Figure 1: VIRTUAL REALITY IN GAMING SHARE BY Compatibility (2022-2030)
VIRTUAL REALITY IN GAMING SHARE BY Compatibility (2022-2030)


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Virtual Reality in Gaming Regional Insights


By Region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. Asia Pacific held the largest market share with 45.80% because of the Developing markets, such as India. South Korea, China, and Indonesia would all contribute to regional market expansion. According to ComScore MMX statistics, India, Indonesia, Japan, Australia, and other nations have the highest gaming audience and websites. This is fueling the region's market potential.


Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure 2: VIRTUAL REALITY IN GAMING SHARE BY REGION 2022 (%)
VIRTUAL REALITY IN GAMING SHARE BY REGION 2022


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

North America virtual reality in gaming market accounts for the second-largest market share due to the emergence of fundamental technologies such as augmented reality (AB) and virtual reality, SG, 3D audio, enhanced graphics, and others, driving growth in this sector. In addition, significant firms such as Electronic Arts, Inc., Google LLC, Leap Motion, Inc., Facebook Technologies, LLC, Microsoft Corporation, and others in the area drive market growth. This region's players are concentrating on developing superior hardware and software. Moreover, China virtual reality in gaming market held the largest market share, and India's virtual reality in gaming market was the fastest-growing market in the region


The Asia Pacific Virtual Reality in Gaming Market is expected to grow at the highest CAGR from 2022 to 2030. Europe is predicted to develop considerably due to increased demand for virtual reality devices in gaming competitions in nations such as Germany, Italy, and Spain. These events are based on complex games with VR technology incorporated. Furthermore, in Europe, the authorities and large game organizers are working on launching various gaming events. This is anticipated to increase the region's market share. Moreover, China virtual reality in gaming market held the largest market share, and India's virtual reality in gaming market was the fastest-growing market in the Asia-Pacific region


For instance, in January 2020, In collaboration with the HTC Viveport China team, Virtuleap launched the Enhance VR brain training software in China. Improve VR provides a daily workout of mini-games that measure and develop various cognitive skills such as memory, problem-solving, flexibility, speed, motor skills, spatial orientation, and spatial audio awareness.


Virtual Reality in Gaming Key Market Players & Competitive Insights


Major market players spend a lot of money on research and development to expand their product offerings, which will spur further growth in virtual reality in gaming. With significant market developments like introducing new products, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic initiatives to expand their global footprint. To grow and thrive in a market that is ever more competitive and growing, competitors in the biomarker testing industry must provide affordable products.


One of the most common business methods firms use in the global virtual reality in gaming industry to benefit clients and expand the market sector is manufacturing locally to reduce operating costs. In recent years, virtual reality in gaming industry has provided medicine with some of the most significant benefits. Virtual reality in gaming major players such as Google (U.S.), Electronic Arts Inc (U.S.), HTC Corporation (Taiwan), Newzoo (Netherlands), and others are working on expanding the market demand by investing in research and development activities.


HTC Corporation is a Taiwan-based electronics company best known for its virtual reality (VR) products, specifically the HTC Vive and Vive Pro VR headsets. These headsets are popular among gamers and offer a highly immersive gaming experience. The HTC Vive and Vive Pro VR headsets use room-scale tracking technology to provide an immersive gaming experience that allows players to move around and interact with their virtual environment. For Instance, in January 2023, HTC VIVE continued to push the frontiers of innovation, today introducing the VIVE XR Elite, its latest consumer flagship all-in-one. The headset combines Mixed Reality (MR) and Virtual Reality (VR) features into a compact, lightweight, powerful, and extremely adaptable device suitable for gaming, fitness, productivity, and other applications.


Also, Electronic Arts Inc. (EA) is a major player in the gaming industry that has been incorporating virtual reality (VR) technology into its games. EA is known for developing popular game franchises like FIFA, Madden NFL, and Battlefield, which have all received VR adaptations. EA's VR games offer players an immersive and realistic experience by allowing them to enter and interact with virtual environments. For Instance, the highly anticipated Medal of Honor Above and Beyond was unveiled by Electronic Arts' EA unit, Respawn Entertainment, in collaboration with Facebook FB Reality Labs' Oculus Studios team. The latest virtual reality (VR) entry in the Medal of Honor franchise offers twelve levels and five multiplayer modes designed specifically for VR.


Key Companies in virtual reality in gaming include




  • Google (U.S.)




  • Electronic Arts Inc (U.S.)




  • HTC Corporation (Taiwan)




  • Newzoo (Netherlands)




  • SAMSUNG (South Korea)




  • Kaneva (U.S.)




  • LEAP MOTION INC. (U.S.)




  • Sony Corporation (Japan)




  • Oculus VR LLC (U.S.)




  • VirZOOM Inc (U.S.)




  • ZEISS International (Germany)




Virtual Reality in Gaming Industry Developments


May 2021: HTC VIVE introduced two new headsets: the HTC Vive Pro 2, which connects to a computer, and the standalone HTC Vive Focus 3. The company's new product launch is aimed squarely at expanding the market for immersive technologies.


Virtual Reality in Gaming Market Segmentation:


Virtual Reality in Gaming Hardware Outlook




  • Headsets




  • Glasses




  • Devices




  • Gloves




Virtual Reality in Gaming Compatibility Outlook




  • MMOs




  • Smartphones




  • Casual Web Game




  • Console




Virtual Reality in Gaming Regional Outlook




  • North America




    • US




    • Canada






  • Europe




    • Germany




    • France




    • UK




    • Italy




    • Spain




    • Rest of Europe






  • Asia-Pacific




    • China




    • Japan




    • India




    • Australia




    • South Korea




    • Australia




    • Rest of Asia-Pacific






  • Rest of the World




    • Middle East




    • Africa




    • Latin America





Report Scope:

Report Attribute/Metric Details
Market Size 2022 USD 10.8 billion
Market Size 2023 USD 14.2344 billion
Market Size 2030 USD 74.6159 billion
Compound Annual Growth Rate (CAGR) 31.80% (2023-2030)
Base Year 2022
Market Forecast Period 2023-2030
Historical Data 2018 - 2021
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Hardware, Compatibility, and Region
Geographies Covered North America, Europe, Asia Pacific, and Rest of the World
Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Google (U.S.), Electronic Arts Inc (U.S.), HTC Corporation (Taiwan), Newzoo (Netherlands), SAMSUNG (South Korea), Kaneva (U.S.), LEAP MOTION INC. (U.S.), Sony Corporation (Japan), Oculus VR LLC (U.S.), VirZOOM Inc (U.S.), ZEISS International (Germany)
Key Market Opportunities Virtual reality in gaming to optimum levels
Key Market Dynamics Virtual gaming devices provide an excellent consumer experience The indefinite benefits of VR gaming




Frequently Asked Questions (FAQ) :

The global virtual reality in gaming size was valued at USD 10.8 Billion in 2022.

The global market is projected to grow at a CAGR of 31.80% during the forecast period 2022-2030.

The key players in the market are Google (U.S.), Electronic Arts Inc (U.S.), HTC Corporation (Taiwan), Newzoo (Netherlands), SAMSUNG (South Korea), and others.

The Headsets segment of virtual reality in gaming dominated the market in 2022.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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