Albany, NY -- (SBWIRE) -- 11/12/2014 -- Transparency Market Research’s new report titled “Virtual Reality in Gaming Market (By Component - Software, Hardware; By Type of Gaming Console from Different Manufacturers - Microsoft Xbox, Apple Mac, Sony PlayStation, Personal computer, Nintendo Wii) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019” identifies various market trends and assesses the current and future outlook of the virtual reality in gaming market. The report evaluates major offerings, growth trends, leading players, and strategies of the virtual reality in gaming market, as well as analyzes the opportunities and helps in understanding the propelling forces behind the attractiveness of virtual reality games in the global market. 

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According to the studies in this market report, the global virtual reality in gaming market was worth US$466.6 million in 2012 and is expected to reach US$5,839.9 million by 2019. The market is growing at a CAGR of 39.2% from 2013 to 2019.

In the early 90s, several gaming companies including Nintendo made attempts in creating virtual reality in gaming through different experiences and technological devices such as virtual reality headsets. But the available gaming devices were incompatible with other devices and technology due to which the virtual reality in gaming market suffered a sharp decline.

Nevertheless, over the years the virtual reality in gaming market has evolved drastically. Constant technological innovations have incurred explosive growth into the virtual reality in gaming market. One of the best illustrations in this modern age is the ‘Project Morpheus’ under the category of virtual reality headset. This virtual reality headset is introduced by Sony Corporation that offers 3-dimensional screen features and high-end optical and acoustic tracking system to make the gaming experience even better for users.

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With the help of effective hardware and software, virtual reality provides a convenient simulated environment which the gamer experiences as a real environment. The virtual reality in gaming market comprises the user wears devices such as gloves, glasses, or head mounted display (HMD) as a part of user experience.

Among all the components in the virtual reality in gaming market, the software segment is accounted to be the largest segment across the globe. In 2012, nearly 53.5% share in terms of revenue of the overall virtual reality in gaming market was recorded. Due to continuous growth and development in software technologies, the software segment is expected to maintain its commanding position in the virtual reality in gaming market throughout the forecast period.

On the other hand, the hardware segment is marked as the second largest segment in the virtual reality in gaming market. Owing to increased use of hardware virtual reality products such as hand gloves, glasses, and head mounted display (HMD), the global hardware segment is expected to witness substantial growth during the forecast period.

Nevertheless, up-gradation and high cost of maintenance of virtual reality devices are major growth inhibitors of the virtual reality in gaming market.

In terms of geographical distribution, the virtual reality in gaming market has been classified into four key regions, namely, North America, Europe, Asia Pacific and Rest of the World (RoW). 

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Among all the regions, North America has the maximum leading publishing companies such as Take Two Interactive and Electronic Arts Inc., due to which the overall region accounts for 37.0% revenue share in 2012, becoming the largest segment across various other regions. Successively, Europe is considered as the second largest regional market in virtual reality in gaming, accounting for 31.9% revenue share of the global market in 2012.

Similarly, many other countries including Spain, France, and Germany in the European market are accounting for majority shares in the global virtual reality in gaming market.

Due to leading gaming manufacturers and a large number of online gamers in regions like South Korea and China, the overall Asia-Pacific region is expected to exhibit high growth over the forecast period.

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