Virtual Reality (VR) in Gaming Market Size, Share Report 2032
Virtual Reality in Gaming Market Size, Share Analysis, 2024-2032

Virtual Reality in Gaming Market Share, Size, Trends, Industry Analysis Report, By Component, By Connecting Device (Gaming Console, PC/ Desktop, Smartphone), By User (Commercial Space, Individual), By Region, And Segment Forecasts, 2024 - 2032

  • Published Date:Jan-2024
  • Pages: 117
  • Format: PDF
  • Report ID: PM1082
  • Base Year: 2023
  • Historical Data: 2019-2022

Report Outlook

The global virtual reality in gaming market was valued at USD 25.37 billion in 2023 and is expected to grow at a CAGR of 22.5% during the forecast period.

Virtual Reality (VR) has significantly enriched the gaming experience by providing real-time immersion for gamers within their screens. The industry introduces captivating virtual accessories that enhance user engagement and provide an immersive gaming experience. Continuous advancements in existing technologies, including motion tracking, 3D effects, and interactive graphics to capture players' attention, are expected to fuel the growth of the industry. As consumers seek novel sources of entertainment, driven by increased spending capacity, there is a noticeable trend of engagement in virtual reality games.

Virtual Reality in Gaming Market Size

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Over the last five years, investors and entrepreneurs have displayed significant interest in the virtual reality sector. Considerable investments in immersive technology within tech-based companies signal an emerging trend in the entertainment and computing industries. According to NASSCOM, content creation tools have garnered 43.5% of the total funding for VR in the specified period. This underscores the growing importance of ensuring superior content development to sustain interest, meet demand, and supply immersive experiences through virtual reality.

Companies are consistently involved in research and development endeavors to introduce technologically advanced products, aiming to gain a competitive edge. Within the virtual reality gaming market, players are producing a range of accessories, including motion-sensing devices, treadmills, gloves, arms, and full bodysuits. The increasing demand for VR accessories and wearables among users, coupled with potential price reductions in the next seven years, is expected to propel the growth of the virtual reality in gaming market. However, the challenge of device compatibility limitations acts as a barrier to the industry's growth.

 Virtual Reality in Gaming

Industry Dynamics

Growth Drivers

Immersive Gaming Experience

VR provides a more immersive and realistic gaming experience by placing users directly in the virtual environment. This heightened level of immersion is a key driver as gamers seek more engaging and interactive experiences.

The realm of virtual reality gaming is witnessing an increase in its professional significance through innovative advancements. There is a growing awareness among players about cutting-edge VR accessories, including headsets, bodysuits, and gloves. The introduction of VR headsets marked a revolutionary moment in the entertainment industry, leading to a surge in demand for virtual reality games as users sought to experience 3D characters within their virtual environments. The VR devices utilized in the market are equipped with intelligent interactive hardware and software, enhancing the overall entertainment experience for users.

Report Segmentation

The market is primarily segmented based on component, connecting device, user, and region.

By Component

By Connecting Device

By User

By Region

  • Hardware
  • Software


  • Gaming Console
  • PC/Desktop
  • Smartphone
  • Commercial Space
  • Individual
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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By Component Analysis

Hardware segment accounted for the largest market share in 2023

The segment growth can be attributed to the ongoing advancements in VR wearables and accessories, encompassing input devices, gloves, head sets, & bodysuits. Hardware encompasses all physical components for gameplay, including gaming platforms, storage media, accessories, and gaming kits. There is a consistent demand for input devices essential for playing virtual reality games, with popular options such as Oculus Rift, Play Station VR, HTC Vive, & Samsung Gear VR.

Software segment will grow rapidly. This is due to fact that it plays a crucial role in creating virtual reality (VR) environments and effects to make the experience as realistic as possible. The challenge for the software industry lies in developing software and games that deliver a more captivating and appealing effect for players.

By Connectivity Analysis

Gaming console segment held the significant market share in 2023

Gaming console segment held the significant market share. Sony Corporation & Microsoft have announced their latest consoles, expected to feature solid-state hard drives, backward compatibility, higher frame rates, and enhanced virtual reality support. The introduction of these new consoles is projected to contribute to the growth of the industry in the upcoming years.

Desktop segment is expected to gain substantial growth rate. Certain entertainment-focused computer companies, like ORIGIN PC & CYBERPOWERPC, provide customization options for PCs tailored to users' preferences. The VR gaming experience on PC/desktops relies significantly on the Graphics Processing Unit (GPU) and the incorporated RAM. Chip manufacturers such as NVIDIA Corporation and Advanced Micro Connecting Devices, Inc. continually enhance their offerings to align with the expanding market.

By User Analysis

Commercial space segment held the significant market share in 2023

Commercial space segment held the significant market share. This growth is fueled by the increasing prevalence of VR gaming zones and arcades worldwide. These spaces provide consumers with the opportunity to completely immerse themselves in a simulated world, offering an escape from reality. Particularly appealing to younger demographics, commercial spaces like arcades, cafes, and amusement parks provide high-quality VR gaming experiences at reasonable hourly rates. These venues offer expansive open areas and enhanced VR interactions, contributing to a more immersive and engaging experience for users.

Individual segment is expected to gain substantial growth rate. The primary factor impeding widespread consumer adoption of VR in gaming has been the associated cost. However, with the increasing accessibility and availability of VR games in users' homes and the declining prices of hardware over time, the individual segment is dominating the industry. Industry players are introducing cost-effective gadgets to enter the market and expand their consumer base. For instance, Google, has launched a card board headset that can be used with a smartphone to experience the virtual world of electronic games.

 Virtual Reality in Gaming

Regional Insights

North America dominated the global market in 2023

North America dominated the global market. The U.S. has been a significant driver of this growth due to its early adoption of new technologies and alignment with consumer preferences. The region's tech-savvy population, coupled with a culture that embraces innovation, has led to the rapid adoption of virtual reality (VR) technologies in various sectors, including gaming. The U.S. has witnessed higher deployment of VR applications and experiences, creating a robust market for VR gaming.

Additionally, the U.S. gaming industry has historically been at the forefront of technological advancements, and consumers in the region have shown a strong inclination toward immersive and cutting-edge gaming experiences. This aligns with the capabilities offered by VR technology, further driving its adoption and contributing to the significant market share in the region.

The Asia Pacific will grow with substantial pace. Notably, China and Japan play a pivotal role in this growth, contributing to a higher market share. The significant consumer base in these countries, coupled with the widespread adoption of VR games on smartphones, has fueled the expansion of the market. One contributing factor is the deployment of high-speed 5G networks, which enhances the overall gaming experience. This technological advancement, combined with the increasing disposable income of consumers, is driving a significant demand for VR games.

Countries like South Korea and India are also anticipated to witness substantial growth in the VR gaming sector. This growth is attributed to advancements in technology within the entertainment industry and the rising disposable income of individuals, making VR gaming an increasingly popular form of entertainment in the region. Overall, the region presents a fertile ground for the expansion of the market.

 Virtual Reality in Gaming Reg

Key Market Players & Competitive Insights

Intense competition within the virtual reality (VR) gaming industry has prompted companies to prioritize cost-effectiveness, innovation, and the quality of VR hardware, content, and software. The typical transition from one generation of gaming consoles to the next spans five to six years, during which sellers consistently engage in technological upgrades and deliver them to gamers. Key players in the market are strategically enhancing their product portfolios to maintain and strengthen their leading positions in the market.

Some of the major players operating in the global market include:

  • Electronic Arts Inc.
  • Google Inc.
  • HTC Corporation
  • Linden Research, Inc.
  • Meta
  • Microsoft
  • Nintendo.Games
  • Qualcomm Technologies, Inc.
  • Sony Corporation
  • Tesla Studios
  • Ultraleap Limited
  • Virtuix

Recent Developments

  • In June 2023, Meta Platform introduced a gaming subscription, a move intended to potentially boost its revenues. Under this initiative, subscribers can keep the games for as long as they maintain active membership in Meta Quest+.
  • In October 2022, Microsoft collaborated with the Meta to provide a VR experience, intending to integrate Microsoft's productivity tools into VR headsets while aligning with Meta's ambitious Metaverse vision.

Virtual Reality in Gaming Market Report Scope

Report Attributes


Market size value in 2024

USD 31.06 billion

Revenue forecast in 2032

USD 158.04 billion


22.5% from 2024 – 2032

Base year


Historical data

2019 – 2022

Forecast period

2024 – 2032

Quantitative units

Revenue in USD million/billion and CAGR from 2024 to 2032

Segments covered

By Component, Connecting Device, By User, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa


Report customization as per your requirements with respect to countries, region and segmentation.

Explore the market dynamics of the 2024 Virtual Reality in Gaming Market share, size, and revenue growth rate, meticulously examined in the insightful reports crafted by Polaris Market Rersearch Industry Reports. The analysis of Virtual Reality in Gaming Market extends to a comprehensive market forecast up to 2032, coupled with a retrospective examination. Avail yourself of a complimentary PDF download to sample this in-depth industry analysis.

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The global virtual reality in gaming market size is expected to reach USD 158.04 billion by 2032.

Electronic Arts, Google, HTC Corporation,, Meta, Nintendo.Games are the top market players in the market.

North America region contribute notably towards the global Virtual Reality in Gaming Market.

The global virtual reality in gaming market is expected to grow at a CAGR of 22.5% during the forecast period.

Component, connecting device, user, and region are the key segments in the Virtual Reality in Gaming Market.