New York, NY -- (SBWIRE) -- 10/23/2017 -- The enchanting world of gaming has been augmented by the arrival of virtual reality technology, which offers gamers an immersive 3-D experience through devices such as VR headsets, controllers, VR treadmill, etc. Persistence Market Research has studied this interesting market of virtual reality gaming accessories and presented the findings, forecasts, and insights in a new report titled "Virtual Reality Gaming Accessories Market: Global Industry Analysis 2012 – 2016 and Forecast 2017 – 2025." This report presents detailed revenue forecasts of the global VR gaming accessories market by components, platform, sales channel, and region and throws light on the various factors boosting revenue growth of the global market over an eight year assessment period from 2017 to 2025.
The global virtual reality gaming accessories market is projected to reach a market valuation in excess of US$ 31 Bn by the end of 2025, up from an estimated US$ 9.5 Bn in 2017, witnessing a CAGR of 15.9% in terms of revenue. The global virtual reality gaming accessories market is expected to create an incremental opportunity of about US$ 21.5 Bn between 2017 and 2025.
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Global Virtual Reality Gaming Accessories Market: Segmental Forecast
The global virtual reality gaming accessories market is segmented on the basis of Components into Headset (Mobile, Tethered), VR Controller (VR Glove, Gun Controller, Haptic Controller, Handheld Controller), VR Treadmill, Gaming Suit, and VR PC Backpack. On the basis of Platform, the market is segmented into Gaming Console, PC, and Smartphone. By Sales Channel, the segmentation includes Organized Retail Chain, Unorganized Retail Chain, and Online Store. Regional classifications include North America, Latin America, Europe, Asia Pacific, and MEA.
Global Virtual Reality Gaming Accessories Market: Key Player Insights
The report profiles some of the top companies operating in the global virtual reality gaming accessories market such as HTC Corporation, Google Inc., Sony Corporation, Microsoft Corporation, Virtuix Holdings Inc., Samsung Corporation, Nintendo Co Ltd, Oculus VR LLC, HP Inc, and Xiaomi Corporation. Key market players are adopting strategies such as new product launches and continuous product upgradation to enhance sales growth and business revenue and also to expand into new markets. Companies are also leveraging new innovation strategy to reach potential customers in emerging markets.
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Factors boosting the growth in adoption of smartphones in the global virtual reality gaming accessories market
Several factors contribute to the growing adoption of smartphones as a tangible platform for virtual reality gaming. An increasing growth in adoption of smartphone based VR headsets and other gaming accessories owing to the feasibility of playing VR games without any connected cables and devices is the primary driver pushing the market towards high revenue growth. This is also likely to boost the demand for VR gaming products in the near future. This growing adoption of smartphones for VR gaming has led to an increase in revenue contribution to the GDP through the use of mobiles, especially in geographies such as APAC and North America. Also, worldwide spending on ICT is increasing significantly every year. The main reasons for this increased spending is the growing use of smartphones to access the internet and continuous launches of new technologies in the market across domains such as IT, media and entertainment, etc. These factors are anticipated to significantly boost revenue growth in the global VR gaming accessories market.