Published on : Jan 22, 2016
The global virtual reality in gaming market is projected to grow immensely in the coming few years. The compelling nature of virtual reality continues to attract consumers to this technology. Virtual reality (VR) is an interactive technology and consumers want to see new content. VR in gaming uses sounds and graphics in games and allows the user to play game by wearing a head mounted display or glasses and gloves. This technology provides a simulation of real-time environment.
Companies in the global virtual reality in gaming market offer virtual reality gaming software and hardware. Some of the prominent companies operating in the global virtual reality in gaming market are Nintendo Wii, Sony PlayStation, Apple Mac, and Microsoft Xbox.
Growing Innovation to Drive Global Virtual Reality in Gaming Market
Players in the global virtual reality in gaming market are focused on developing comfortable virtual reality (VR) gaming devices. In addition to this, companies are increasingly reducing the size of the virtual reality headwear to make them more lightweight and comfortable for consumers. One of the compact and comfortable VR headwear is from Oculus called rift-VR GOGGLES.
After 2012, the global market has witnessed an explosion of interest in the VR segment due to head mounted display (HMD) products such as Gear VR, Oculus Rift, HTC Vive, and Google Cardboard. Presently, the virtual reality in gaming has reached a point where it is possible to watch high quality VR videos for a reasonable price and with the ongoing innovation, consumers will soon increasingly experience HD quality in VR.
Rising Disposable Income to Benefit Global Market
The global virtual reality in gaming market will also benefit from the rising disposable income levels of people in both developed and developing regions. Especially, the high spending power of consumers in the North America region will drive the sale of VR headgears in the coming few years. The rising investment in the global virtual reality in gaming market will also support its growth.
However, two key challenges that will suppress the global virtual reality in gaming market are the high cost associated with VR gaming devices and the difficulty to maintain and upgrade these devices.