LONDON, GREATER LONDON , UK, October 20, 2022 The reports have been updated with the most recent Ukraine-Russia War impact on market growth for all 27+ industries. The reports also provide possible solutions and opportunities for surviving this crisis.
As per The Business Research Company’s “Virtual Reality In Gaming Global Market Report 2022”, the virtual reality in gaming market size is predicted to increase from $9.39 billion in 2021 to $12.13 billion in 2022 at a compound annual growth rate (CAGR) of 29.20%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. Virtual reality in the gaming market is expected to reach $33.65 billion in 2026 at a CAGR of 29%. The increasing adoption of VR devices is driving the virtual reality in gaming market growth.
Key Trends In The Virtual Reality In Gaming Market
5G-based VR cloud games are shaping virtual reality in the gaming market outlook. 5G VR cloud is a combination of cloud, virtual reality, and 5G connectivity in gaming. Major companies operating in virtual reality in the gaming sector are focused on developing 5 G-based VR cloud games to offer customers low latency and high bandwidth services. For instance, in May 2020, Archiact, a Canada-based VR games studio merged with Migu Co. Ltd., a China-based consumer technology company to bring VR games to its 5G cloud gaming platform. Archiact states that by teaming with Migu, it will be able to work together to establish the vision of 5G VR cloud gaming, making VR even more available.
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Newswires / Oliver Guirdham / Ferndale
The Business Research Company
