Virtual reality has caught the world by storm and the combined effect of virtual reality and gaming has created a new breed of technology hungry individuals with a zeal for exploring hitherto unseen dimensions that define the VR and gaming industry.
The global virtual gaming accessories market is projected to grow at a high double-digit CAGR and surpass US$ 31 Bn in revenues by the end of 2025, according to a new report added to the database of Market Research Reports Search Engine (MRRSE). According to the report, the demand for virtual reality gaming accessories is growing as consumers are looking for a more immersive gaming experience.
The report titled “Virtual Reality Gaming Accessories Market: Global Industry Analysis 2012 – 2016 and Forecast 2017 – 2025” offers comprehensive insights and guidance that can help readers in understanding the current and likely scenario in this growing market.
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According to the report, the pervasiveness of smartphones has created lucrative opportunities for virtual reality gaming accessories.
The use of smartphones as a platform for virtual reality gaming is growing and the trend is likely to continue during the forecast period. Demand for smartphone based VR headsets is witnessing a spike, and the growth is continue during the forecast period.
Smartphone as a platform will continue to account for the leading revenue share during the assessment period. According to the report, the smartphone segment will remain the most lucrative on the basis of platform during the forecast period.
The smartphone segment is projected to reach US$ 14 bn by the end of 2025, whereas PC as a platform is likely to rake in US$ 10 bn during the same period.
Asia Pacific is one of the leading markets for smartphones and it is no surprise that the region dominates sales of virtual reality gaming accessories. The emergence of a strong middle class with significant disposable income is likely to create growth opportunities for manufacturers during the forecast period.
According to the report, the APAC virtual reality gaming accessories market is likely to gain traction during the forecast period.
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The report projects the APAC virtual reality gaming accessories market to reach US$ 14 Bn by the end of 2025. While sales in APAC will be dominated by mid-priced accessories, there is significant scope for high-priced gaming accessories in developed markets of the U.S., Canada, and Western Europe.
On account of these factors, manufacturers are likely to focus their attention on boosting their presence in APAC and these developed markets.
The key players profiled in the report include HTC Corporation, Microsoft Corporation, Samsung Corporation, Google Inc., HP Inc, Nintendo Co Ltd, Virtuix Holdings Inc., Sony Corporation, Oculus VR LLC, and Xiaomi Corporation.
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