Virtual Reality (VR) in Gaming Market to Depict a Stellar CAGR of 30.4% Over 2024-2032; 5G Technology Boosts VR Gaming Market with Enhanced Connectivity and Responsive Experiences

The global Virtual Reality (VR) in gaming market size was valued at USD 17.96 billion in 2023. The market is projected to grow from USD 22.63 billion in 2024 to USD 189.17 billion by 2032, exhibiting a CAGR of 30.4% during the forecast period.

Fortune Business Insights™ presents this information in its report titled, “Virtual Reality (VR) in Gaming Market Size, Share & Industry Analysis, By Type (Hardware, Software, and Content), By Distribution Channel (Online and Offline), By Platform (Tethered VR, Standalone VR, and Mobile VR), and Regional Forecast 2024 – 2032”.

Virtual Reality (VR) in gaming is a simulated and immersive experience that generates a three-dimensional and interactive environment. The increasing popularity and adoption of virtual reality (VR) in gaming drive market growth.

The COVID-19 pandemic had a positive impact on the market growth. The increased spending indoors and people seeking new forms of entertainment, such as virtual gaming, offered engaging experiences that enabled users to escape their homes’ confines, boosting market expansion during the pandemic.

Integration of Generative AI in VR Gaming to Boost Market Growth

The use of generative AI in Virtual Reality (VR) gaming is increasing as it helps enhance object identification in VR gaming. This technology ensures that the characters and actions respond accurately to user interactions, providing a highly interactive and contextual VR experience.

VRAL Games Introduced VRIDER to Capitalize Global VR Market

In March 2024, VRAL Games introduced a licensed sport title VRIDER, while presenting its commitment to pioneering immersive gaming experiences. The company aims to capitalize on the expected growth of the virtual reality market led by AI, gaming, and hardware experts.

Surging Integration of 5G Technology to Fuel Market Expansion

The increasing adoption of VR in gaming with 5G technology opens the way for seamless and highly responsive virtual experiences propels Virtual Reality (VR) in gaming market growth. The market's growth is driven by the surged network capacity of 5G, which supports multiplayer VR gaming experiences and allows players from various locations to partner and interact within the same virtual space.

However, the high cost of virtual reality setups and hardware, such as high-end headsets and powerful gaming systems, which showcase a substantial barrier to VR gaming’s mainstream adoption, may impede market growth.

Key Players are Adopting New Product Launches Strategies to Maintain Competitive Edge

The key players in the market are adopting new and innovative product launch strategies, including AI-enabled environments, poker competitions with real-money wagering, and battle arenas based on blockchain, to lead the market.

Notable Industry Development

• March 2024 – Virtuix introduced its ‘Omni One’ VR treadmill system with 35 compatible games lineup. With these games, the users will get a complete entertainment experience with a customized Pico 4 Enterprise headset and a 360-degree treadmill for battery gameplay.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/virtual-reality-gaming-market-100271

List of the Companies Profiled in the Report:

• Meta Platforms, Inc. (U.S.)


• Sony Corporation (Japan)


• Valve Corporation (U.S.)


• Unity Technologies (U.S.)


• PICO Immersive Pte. Ltd (Bytedance) (China)


• Apple, Inc. (U.S.)


• Alphabet Inc. (Google LLC) (U.S.)


• NVIDIA Corporation (U.S.)


• Microsoft Corporation (U.S.)


• Epic Games, Inc. (U.S.)

Further Report Findings-

• North America is dominating the market and was valued at USD 6.72 billion in 2023 due to the large consumer base with high disposable incomes, further enhancing the adoption of premium VR hardware and gaming systems. 


• Asia Pacific is anticipated to experience the highest growth rate in the market due to the high demand for immersive experiences from the entertainment and gaming sector and the high adoption of VR across healthcare, aviation, automotive, and architecture industries.


• The hardware segment led the market due to the increasing need for specialized equipment, including powerful computing devices and VR headsets, to run them effectively.


• The offline segment holds the largest Virtual Reality (VR) in gaming market share, surging consumer preferences for physical retail experiences while buying hardware.

Table of Segmentation: