Fortune Business Insights recently released new research on virtual reality gaming. This report showed that the VR gaming market was worth $6.26 billion in 2020. Since the market is projected to grow to $53.44 billion by 2028, this sector will exhibit a CAGR (compound annual growth rate) of 31.4% during this forecast period.
The VR gaming market has been divided into three segments: mobile, console/PC, and standalone. The console/PC segment of this industry is expected to hold the largest share of the market “in the foreseeable future.”
North America made up the largest part of the virtual reality gaming market in 2020. However, the APAC (Asia-Pacific) region is expected to demonstrate the highest CAGR during the aforementioned forecast period.
“The report delivers a thorough study of the segments and a comprehensive analysis of virtual reality in gaming industry,” the report reads. “A thoughtful assessment of the contemporary market trends as well as the future opportunities are offered in the report. It further shares an exhaustive examination of the regional insights and their function in shaping the virtual reality in gaming market growth. The COVID-19 impacts have been revealed to the report to aid shareholders and business professionals to comprehend the risks and draw out a strategy to tackle them. It further focuses on the important players and their significant tactics to maintain their leading positions.”
(All information was provided by GlobeNewswire)