Content

VR in gaming market set to surge by $15B

Photo: iStock

November 24, 2021

The VR in the gaming market is set to grow by $15.01 billion, progressing at a CAGR of almost 50% from 2020 to 2025, due to market fragmentation, according to a report from market research firm Technavio.

The increasing adoption of VR in the interactive home entertainment industry and the introduction of digital downloading in gaming consoles will offer growth opportunities.

By component, the market witnessed maximum growth in the hardware segment in 2020, according to a press release on the report's findings. In terms of geography, APAC is expected to dominate the market growth over the forecast period. The region holds 39% of the global market share, with China and Japan leading the way.

Some of the important vendors of the VR in gaming market include Advanced Micro Devices Inc., Alphabet Inc., Electronic Arts Inc., Facebook Inc., Fallen Planet Studios Ltd, HTC Corp., Magic Leap Inc., Nintendo Co. Ltd., NVIDIA Corp., and Ubisoft Entertainment.

Technavio, founded in 2003, is based in Elmhurst, Illinois.