Virtual Reality in Gaming: Rapidly Growing due to Rising Online Gaming: TechVersion

Virtual reality creates a realistic environment using software and virtual reality devices. The graphics and interactive features combine to provide a very realistic user experience through virtual reality gaming devices. A basic example of virtual reality is a 3D image that can be explored interactively on a personal computer. In gaming, virtual reality is a combination of graphics and sound technologies and users wear HMDs or head mounted displays, glasses, or gloves to actively participate in the experience.

Cutting-edge Technology Innovations and Rising Disposable Incomes Bolster Industry

Technological innovations are among the prime reasons for the accelerated market growth of virtual reality in gaming. Consumers are attracted by features such as 3D effects, interactive graphics, and motion tracking that are offered in these devices. Increase in disposable income is also a driving factor for the virtual reality in gaming market. However, issues related to maintaining and upgrading the devices and high cost of virtual reality gaming devices act as deterrents for potential customers of the virtual reality in gaming market.

North America Leads Industry due to Availability and Acceptance of Advanced Technology

The segments of the virtual reality in gaming market are broken down by type, components, and geography. By geography, North America accounted for the largest share, with a 37.0% share in terms of revenue in 2012. Consumer preference for head mounted displays and easy availability of advanced technology are among the factors responsible for propelling the virtual reality market in this region. Europe attained a 31.9% revenue share in the global market in 2012. Germany, Spain, and France accounted for a majority of the activity in the Europe market for virtual reality in gaming.

Asia Pacific Industry Rapidly Growing due to Rise in Online Gaming

Asia Pacific is anticipated to become the fastest growing region in the global market due to the rising numbers of online gamers, reflecting a rise in popularity of online gaming. Major virtual reality device manufacturers in this region want to gain competitive edge by developing versions of existing devices that perform better. Additionally, the virtual reality in gaming market is boosted by the presence of prominent gaming manufacturers in countries such as South Korea and China.

On the basis of components, virtual reality gaming software accounted for a 53.5% share in terms of revenue in 2012. This segment is foreseen to continue this growth trend during the next few years. The hardware segment of the virtual reality in gaming market is the second biggest and is expected to expand due to accelerated use of glasses, hand gloves, head mounted headsets and other such virtual reality products. Types of gaming consoles include personal computers, Nintendo Wii, Apple Mac, Microsoft Xbox, and Sony PlayStation (PS3, PS4). Due to strong brand equity in the areas of mobile phones, other consumer electronics, and gaming, Sony PlayStation has a leading place among gaming consoles.

The top players in the virtual reality gaming market are Sony Corporation, Electronic Arts Inc., Linden Lab Inc., and Nintendo Company Limited.

Source: http://www.techversion.com/virtual-reality-in-gaming-rapidly-growing-due-to-rising-online-gaming/