Virtual Reality in Gaming Market- Constant Innovation In Existing Gaming Technologies Such As Motion Tracking, 3D Effects And Interactive Graphics

Abuzz with the steady influx of new and more innovative technologies and products, the global market for virtual reality in gaming features a highly dynamic vendor landscape and cut-throat competition among some of the leading and internationally most acclaimed gaming companies, observes Transparency Market Research in a recent report. Traditionally dominated chiefly by technology giants such as Apple, Sony, Microsoft, and Nintendo, the market is steadily becoming more fragmented as new, small and medium-sized companies as well foray into the market with innovative product offerings. However, powerful brand equity allows traditional leaders an upper hand, which continue to hold a significant share in the overall market.

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For achieving recognition and consumers in the highly competitive market, companies need to put more emphasis on innovative marketing strategies and R&D activities aimed at the development of new product varieties. Focus on emerging regional markets with rising disposable incomes and improved networking infrastructures could also allow companies to gain a better footing in the market.

According to the report, the global virtual reality in gaming market is expected to exhibit an exponential CAGR of 39.2% CAGR over the period between 2013 and 2019, rising to a revenue opportunity of US$5.83 bn in 2019.

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North America Remains Most Lucrative Regional Market

Of the key components of a typical virtual reality product made for gaming applications, the software segment presently accounts for the larger share as compared to the hardware segment. The trend continues to remain strong and the software is expected to retain its position as the leading contributor to the global market over the forecast period as well.

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