Immersive Technology in Gaming Industry Market Projected to Hit USD 86.39 billion at a 25.6% CAGR by 2032 – Report by Market Research Future (MRFR)
Research Reports
Jan 11, 2024
The market size for immersive technology in the gaming industry was estimated at USD 8.83 billion in 2022. The market for immersive technologies in the gaming sector is expected to expand at a compound annual growth rate (CAGR) of 25.6% between 2023 and 2032, from USD 10.41 billion in 2023 to USD 86.39 billion.
The main factors driving the market growth are improved gaming experiences, hardware advancements, content development, the expansion of eSports, health and fitness applications, entertainment outside of gaming, investment and funding, tracking and graphic advancements, positive user experiences, and recommendations from friends encouraging more players to try immersive technology.
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Major players in the Immersive Technology in Gaming Industry market, including:
- Acer Inc.
- Atheer, Inc.
- AVEVA Group PLC
- Barco NV
- Blippar Ltd.
- Carl Zeiss AG
- CM Labs Simulations Inc.
- EON Reality, Inc.
- FAAC Incorporated
- Google, LLC
- HCL Technologies Limited
- Honeywell International, Inc.
- HTC Corporation
- Immersive Media Company
- Immersive Technologies Pty Limited
- Lockheed Martin Corporation
- Magic Leap, Inc.
- NCTech Limited
- Oculus (Facebook Technologies, LLC.)
- Samsung Group
- Sony Corporation
- Unity Software Inc.
- Varjo Technologies Oy
- VI-grade GmbH,
- Zeality Inc.
Higher levels of participation are indicative of immersive gameplay. In both VR and AR, players can move their bodies, make vocalisations, and even make hand gestures to interact with the items and game environment. This hands-on method to gaming offers a physicality and level of involvement that traditional gaming interfaces just cannot match. Players keep returning for more because of the interaction in quest of new and varied experiences.
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The developers of video games are always pushing the boundaries of immersive technology. They are experimenting with new storytelling techniques, visual effects, and gaming mechanisms that are exclusive to virtual or augmented reality. This drive for innovation excites gamers and brings in new customers to the gaming industry. Consequently, propelling the Gaming Industry’s Immersive Technology market.
Segment Insights
The market segmentation for immersive technology in the gaming industry is broken down by component and consists of the following: hardware, services, professional, managed, head-mounted display (HMD), gesture tracking devices (GTD), projectors and display walls (PDW), software/platform, and services. In 2022, the hardware segment held a dominant market share.
Based on technology, Mixed Reality (MR), Virtual Reality (VR), Augmented Reality (AR), and 360 Film are included in the market segmentation of Immersive Technology in the Gaming Industry. In2022, the virtual reality (VR) industry held a dominant position.
Training & Learning, Emergency Services, Product Development, and Sales & Marketing are included in the market segmentation of the immersive technology in the gaming industry based on application. In 2022, the category with the most revenue generation was Product Development.
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The report offers market information for North America, Europe, Asia-Pacific, and the rest of the world, broken down by region. In 2022, the Immersive Technology in Gaming Industry Market in North America held a dominant 45.80% share of the market. In the US, there is a substantial gaming community. The success of Valve Corporation’s virtual reality headset, the Valve Index, is a clear indication of the market’s demand for immersive electronics. The overwhelming positive feedback from North American gamers shows how much demand there is for immersive gaming. In addition, the market for immersive technology in the gaming industry in the United States had the most market share, while the market in Canada had the highest rate of growth on the North American continent.
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