The Market for [FURL=https://www.industryarc.com/Report/16349/augmented-reality-virtual-reality-market-for-gaming-industry.html?utm_source=BriefingWire&utm_medium=PressRelease&utm_campaign=PaidPressRelease]AR and VR for Gaming[/FURL] is forecast to reach $11.0 billion by 2026, growing at a CAGR of 18.5% from 2021 to 2026. The market is driven by the growing popularity and integration of AR and VR technologies in mobile phones and other wearable devices. AR and VR are considered to seamlessly offer the most exciting emerging technologies on the planet for today’s life. The industries using the AR and VR technologies are forecasted to achieve the targeted valuation of over a Trillion dollars by 2025. Howsoever, AR has occupied a special place in the burgeoning mobile gaming world. Near about 50% of global game market apps displays no sign to lift-up as the handset that comes incorporated with the built-in camera which serves as a great source of Augmented Reality gaming. The rising demand for AR in the mobile gaming as well as the larger world of gaming will drive the market growth.Key Takeaways
AR and VR technologies have transformed the gaming industry in an unequivocally distinguished manner. Augmented and Virtual Reality is growing at a fast pace in a world which is predominantly driven by electronic devices such as mobile phones and tablets.
Now that the AR and VR combination has raised expectations significantly, many gaming giants across the world such as NVIDIA and Sony are investing heavily in research and development of AR and VR technologies to reach those expectations.
Increasing adoption of game design element has led companies to be more productive in terms of innovative technologies and software. This is considered to be the major driver of the market.
The growing availability of headsets that support the AR and VR technologies is expected to accelerate the growth during the forecast period.
The recently launched location based AR game -Pokemon GO became massive success overnight which has been downloaded over 80 million times within the first month of its launch.
Crowdfunding by start-ups to develop nascent applications and devices is now considered to be the major trend that stays for a while.
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AR and VR for Gaming Market Drivers
AR and VR Amusement Parks and New Platforms
The market for AR and VR is moving from a purely consumer market to a more commercial segment. The costs of leveraging technology have allowed theme and amusement parks to keep one or two virtual rides in their park, however once the market reaches saturation, virtual reality parks may become a trend once the technology’s availability is more feasible for park owners.
Declining Prices of VR Headsets
One of the limiting factors of VR head mounted displays is the high cost.
AR and VR for Gaming Market top companies are Niantic, Sony, Valve, Ubisoft, Next Games, Ludia Inc, Six To Start, esDot.
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