On September 22nd, Fortune Business Insights released a study that analyzed the global virtual reality gaming market. This report indicates the VR gaming market will be valued at $53.44 billion by 2028.
“According to our researchers, all the advances in 5G technology, pioneering gaming content, and cloud-based gaming technology are a few of the important driving forces of the market,” the report says. “Additionally, as a part of the corporate tactic, crucial players are introducing innovative hardware and gadgets.”
According to the research, the global VR gaming market was valued at $6.26 billion in 2020. Furthermore, that number is expected to grow to $7.92 billion this year. That means the market will register a compound annual growth rate of 31.4% during this period.