ALBANY, N.Y. — (BUSINESS WIRE) — December 17, 2014 — In its latest report titled â€˜Virtual Reality in Gaming Market (By Component - Software, Hardware; By Type of Gaming Console from Different Manufacturers - Microsoft Xbox, Apple Mac, Sony PlayStation, Personal computer, Nintendo Wii) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 â€“ 2019â€™, Transparency Market Research says that this market will hit US$5,839.9 million by 2019. The findings of the report put value of this market at US$466.6 million as of 2012, indicating a CAGR of 39.2% between 2013 and 2019.
The report states that in 2012, North America held the largest revenue share (37%) of the global virtual reality in gaming market. This growth has been spurred by constant technological innovation and growth in consumersâ€™ disposable income. However, the future leaders in the virtual reality in gaming market will be countries such as China and South Korea in the Asia Pacific region. From the global standpoint, the report points out that factors such as technological breakthroughs are driving market growth, whereas the high maintenance and upgrade cost of virtual reality devices will curtail growth to some extent. For the purpose of this study, the virtual reality in gaming market has been studied by component as software and hardware.
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The report also segments and analyzes the market based on leading manufacturers such as: Apple Mac, Microsoft Xbox, Personal Computer, Sony PlayStation, and Nintendo Wii. Further, the market is segmented by geography as: North America, Europe, Asia Pacific and Rest of the World. The findings of report show that by component, the software segment led total virtual reality in gaming market revenues with a 53.5% market share as of 2012, and will uphold this position over the forecast period of this report.
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TMR is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMRâ€™s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.