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Global Virtual Reality In Gaming Market Is Poised To Value Over US$ 38,331.5 Million by 2027 End

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Global Virtual Reality In Gaming Market Is Poised To Value Over US$ 38,331.5 Million by 2027 End
Global Virtual Reality In Gaming Market Is Poised To Value Over US$ 38,331.5 Million by 2027 EndReading Time: 3 minutes

 

The Global Virtual Reality in Gaming Market is expected to be valued at US$ 38,331.5 million by 2027, exhibiting a CAGR of 28.6% during the forecast period of 2020 to 2027, as highlighted in a report published by Coherent Market Insights.

Virtual reality is the use of computer technology to create a simulated environment using computer software and hardware technologies. VR technology has been used in many applications including entertainment and gaming. Virtual reality in gaming is referred to the use of sound and graphics technology in games where the user wears gloves, head-mounted display (HMD), and glasses as a part of their experience. There are several equipped to these devices that record the movement.

Growing digitization and advancement in technology is expected to boost the global virtual reality in gaming market growth over the forecast period
Over the years, both developed and emerging economies have witnessed massive digitization. This is complemented with advancements in technology, in order to expand the use of virtual reality devices. There are various technological advancements are expected in the near future namely wide field-of-view AR displays, transition from PC-based to standalone mobile VR devices, 5G mobile devices, and more. Such technological advancements enhance the user experience and reduce the latency up to a significant level. Hence, these factors are expected to drive growth of the global virtual reality in gaming market growth over the forecast period.

Launch of novel products can present lucrative growth opportunities for market players
Key players are focused on research and development activities, in order to expand the product portfolio and gain a competitive edge in the market. For instance, in May 2014, Electronic Arts Inc. launched EA Sports NHL 15, the first title in a new generation of hockey games. In August 2013, Nintendo Co. Ltd. introduced a 2DS handheld gaming device. The device enabled the user to play 3DS and all other games with the device. Furthermore, in February 2014, Sony Corporation launched its virtual reality headsets named HMZ- T3Q VR.

Challenges associated with user-friendly VR are expected to hamper the global virtual reality in gaming market growth over the forecast period
Despite its various advantages such as enhanced quality and realistic experience, many VR devices are not user friendly. Some of those devices are complicated to use and require adequate training long before they used for gaming experience. Manufacturers are required to provide a user-friendly device that can be operated by a layman as well. Hence, such factors are expected to hamper the global virtual reality in gaming market growth over the forecast period.

North America Trends

According to Coherent Market Insights’s study among regions, North America is expected to witness significant growth in the global virtual reality in gaming market during the forecast period. This is owing to the large presence of major VR companies across the region. Furthermore, growing investment in cutting-edge technologies is expected to propel the global virtual reality in gaming market growth over the forecast period.

Europe Trends

Europe is expected to register robust growth rate in the global virtual reality in gaming market over the forecast period. This owing to constant digitalization of various industries across the region. Furthermore, high growth of VR market in France is expected to boost the regional market growth over the forecast period.
Global Virtual Reality in Gaming Market – Impact of Coronavirus (Covid-19) Pandemic
The countries such as China and India, are play crucial role in the supply chain of virtual reality in gaming market. In the span of lockdown the supply chain in these countries mainly disturbed. Many industries were forced to close down their manufacturing site or remained operational with limited people working on the shop floor, which lowered the production capacity of factories. Further, demand for non-essential products decreased during the pandemic. This hindered the market growth during the pandemic.

Competitive Section
Key companies operating in the global virtual reality in gaming market are Electronic Arts Inc., Kaneva LLC, Nintendo Co. Ltd, Avatar Reality Inc., Sony Corporation, Oculus VR, Activision Publishing Inc., and Sega Corporation.

Key Developments

Major companies are focused on research and development activities, in order to enhance the market presence. For instance, in May 2020, Oculus VR, a subsidiary of Facebook Inc., announced that it is developing a new Quest VR headset of 90Hz for the smoother gaming experience.
Key market players are involved in collaborations and partnerships, in order to gain a competitive edge in the market. For instance, in December 2017, Sega Corporation collaborated with StarVR to introduce premium VR arcade experience in Japan.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Global Virtual Reality In Gaming Market Is Poised To Value Over US$ 38,331.5 Million by 2027 End

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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GGPoker Unveils $24M End Of Year Giveaway – Celebrate December with Over $24 Million in Prizes!

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December 1 through 31 – GGPoker to say #Thanks2024 with ticket drops, daily rewards and more

GGPoker, the World’s Biggest Poker Room, is excited to announce its $24M End of Year Giveaway, an extraordinary month-long festival running from December 1 to December 31, 2024. Packed with giveaways, tournaments, and rewards, the promotion is designed to delight players of all levels and close out the year in style.

The $24M prize pool includes the following highlights:

  • $1M Paradise Online Ticket Drops: Randomly distributed tournament tickets during the upcoming WSOP Paradise Online series
  • $12M 12 Days of Christmas Gift Boxes: Daily rewards for players logging in from December 15 to December 26
  • $1M End of Year #Thanks2024 Flipout Tournament: A fast-paced, unique event running December 27 to December 31
  • $10M December Cash Game Giveaway: Monthly leaderboards and promotions across GGPoker’s popular poker variants, plus $2.5M in GGCare & GGCheers rewards and $1M in bonuses for new players joining GGPoker in December

$1M Paradise Online Ticket Drops

Players participating in WSOP Paradise Online tournaments – running December 1 through December 15 – will automatically get a shot at winning one of $1M worth of tournament tickets, which will be dropped randomly as each event plays out. These tickets can be used to access some of the most exciting tournaments in the WSOP Paradise Online series, offering a shot at major prize pools.

$12M 12 Days of Christmas Gift Boxes

From December 15 to December 26, every player who logs in will receive a daily Christmas Gift Box. These festive surprises include:

  • C$ Rewards
  • Tournament Tickets
  • Daily $100K Freeroll Tickets
  • Sit & Go Tickets
  • Snow Splash Items

Unwrapping a new surprise every day ensures that the holiday season is both fun and rewarding for GGPoker players.

$1M End of Year #Thanks2024 Flipout Tournament

To wrap up the year, GGPoker will host its #Thanks2024 Flipout Tournament, running from December 27 to December 31 and open to all GGCheers and GGCares qualifiers during this time. This fast-paced, unique format automatically pushes every player all-in each hand, creating an adrenaline-fueled path to big prizes. Qualifying is simple, and the players that make it through to Stage 3 will share in a $1M prize pool.

$10M December Cash Game Giveaway and more!

GGPoker’s popular monthly leaderboards will distribute $6.5M in prizes across multiple game variants, including:

  • Rush & Cash
  • Omaha
  • All-In or Fold
  • Short Deck Poker

Another $2.5M will be awarded through the long-running GGCare & GGCheers promotions, which reward players for bad beats, coolers, and lucky moments alike. Additionally, new players joining in December can claim up to $1M in bonuses, including welcome packages and daily freerolls.

“2024 has been an incredible year, and we couldn’t think of a better way to celebrate than by giving back to our players,” said Sarne Lightman, Managing Director of GGPoker. “With over $24M in prizes, including tournament tickets, cash giveaways, and festive rewards, the End of Year Giveaway ensures that every player, whether they’re seasoned grinders or just starting out, has the chance to finish the year on a high note. It’s our way of saying thank you and welcoming even more players to the GGPoker family!”

For full details about the $24M End of Year Giveaway, including terms and conditions, please visit: ggpoker.com/promotions/2024-end-of-year-giveaway/

The post GGPoker Unveils $24M End Of Year Giveaway – Celebrate December with Over $24 Million in Prizes! appeared first on European Gaming Industry News.

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GIANTX announces its Valorant team for 2025

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Westside, Runner, and Tomaszy join Purp0 and Cloud to aim for a return to the top of one of the most prestigious international esports competitions

The global esports organization GIANTX has unveiled its new Valorant team for the 2025 Valorant Champions Tour (VCT). The primary goal is to qualify for the Valorant Champions, the world championship that will take place in Paris, after an uneven 2024 season.

The roster includes Cloud, Purp0, Westside, Runner, and Tomaszy. Cloud and Purp0 remain with the organization, while Westside, Runner, and Tomaszy are new additions.

  • Cloud will take on the role of in-game leader (IGL).
  • Purp0 will continue to bring his ability to perform in key situations.
  • Westside joins from Diamant Esports and makes his debut at the highest level.
  • Runner, previously with Team Vitality, played in the 2024 world championship.
  • Tomaszy, formerly of Rebels Gaming and Karmine Corp, also joins the project.

The coaching staff will be led by Pipson, with Waylander as assistant coach. Both bring extensive experience from the competitive scenes of Valorant and Counter-Strike.

The EMEA region will feature 12 teams in the 2025 VCT:

  • GIANTX,
  • Fnatic,
  • Natus Vincere,
  • Team Liquid,
  • KOI,
  • Team Heretics,
  • Apeks,
  • BBL Esports,
  • FUT Esports,
  • Gentle Mates,
  • Karmine Corp,
  • and Team Vitality.

The official competition kicks off in January with the Kickoff Tournament, where teams will compete for a spot at the first international event of the year: Masters Bangkok.

This weekend, GIANTX will participate in the preseason tournament Intel Monsters Reloaded 2024 in Istanbul.

Their first opponent will be Team Liquid on Saturday at 6:00 PM. If they win, they will face the winner of the match between BBL Esports and SuperMassive in the final.

 

 

The post GIANTX announces its Valorant team for 2025 appeared first on European Gaming Industry News.

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Sportradar Launches Gen AI Audio Advertising for Sportsbook and Casino Operators

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Sportradar announced the launch of generative AI (gen AI) audio, a new feature within its ad:s multi-channel marketing service. The tool leverages the power of gen AI integrated with Sportradar’s live data, to automate the creation of personalized, real-time audio adverts for sportsbook and casino operators across one of the fastest growing digital marketing channels globally.

Ad:s gen AI audio provides operators with a ready-to-use audio marketing solution, allowing them to generate creative content during key sporting and gaming moments to efficiently scale advertising efforts into podcast streaming services and internet radio networks. Sportradar’s industry-leading technology automatically creates customised and dynamic adverts – featuring live-data to update odds, jackpots, and upcoming events— to increase brand awareness, uplift purchase intent and increase the likelihood of customer acquisition.

AI-generated audio adverts are the latest addition to Sportradar’s comprehensive, industry-leading, end-to-end marketing services, driving brand awareness, acquisition and retention across channels including programmatic display, video, audio, digital-out-of-home (DOOH), paid social media, paid search, sponsorships and affiliate marketing.

Niki Beier, SVP Marketing Services, said: “Sports fans and bettors are increasingly consuming audio content, with listenership increasing by over 1000% in the past seven years1. To deliver maximum marketing efficiency, we’re providing a sophisticated yet simple-to-use solution to sportsbook and casino operators. Through our gen AI technology, we’re making it easy for clients to integrate audio adverts into their acquisition and branding campaigns, to reach more customers with real-time relevant audio messages, without the need for creative teams or a high production budget.”

The post Sportradar Launches Gen AI Audio Advertising for Sportsbook and Casino Operators appeared first on European Gaming Industry News.

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