[342 Pages Report] The global wearable gaming technology market holds a share of USD 19,560 million in 2022 and is likely to surpass USD 76,421 million by 2032. The market is advancing at a CAGR of 14.6% during the forecast period.
The gaming industry is one of the fastest evolving sectors across the globe. The development in the industry has remained at par with current technology trends. Wearable gaming technology is also one of the key innovations in the gaming industry that has significantly pushed the market growth to new levels.
| Report Attribute | Details |
|---|---|
| Wearable Gaming Technology Market Value (2022) | USD 19,560 million |
| Wearable Gaming Technology Market Anticipated Forecast Value (2032) | USD 76,421 million |
| Wearable Gaming Technology Market Projected Growth Rate (2022 to 2032) | 14.6% |
The technology provides consumers with an ultimate gaming experience by allowing them to intensively engage in digital games. The fully immersive experience created through virtual and augmented reality is the key factor enabling wearable gaming technology market growth.
The gaming industry is one of the most visible evidence that technology is developing at a rapid pace. Due to technological advancements in gaming, the industry has shifted from hand-held gaming devices to mobile devices. Gaming consoles are still progressing, and each new development of consoles welcomes a more advanced period of technology and capabilities.
Wearable gaming technology has made games more convenient without being too persistent. Most gamers are interested in technological advancements. In this context, they form a more than interesting target group for the wearable gaming technology market, which is expanding and has large potential.
Wearable gaming technology allows players to immerse themselves in their favourite games and allows them to stand up and walk around on the game’s map. In conjunction with virtual reality and augmented reality, wearable gaming technology creates an immersive experience similar to Halo decks.
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Global wearable gaming technology has significant potential. Technology advancements and innovation in wearable gaming devices drive the wearable gaming technology market. The rising popularity of series games and virtual reality-based games is fuelling the growth of the wearable gaming technology market.
Additionally, the rise in internet penetration allows gaming companies to deploy their gaming software in the cloud, enabling users with gaming accessories to access their games from anywhere.
Enterprises of large size and start-ups are investing in the wearable gaming technology market, which is helping the market to grow exponentially. Using wearable gaming technology allows gamers to enjoy virtual worlds while moving their bodies in the real world, increasing their physical activity. As digitalization continues to grow, virtual reality has gained momentum in the gaming industry to allow developers and manufacturers to maximize profits and significantly improve customer experiences.
Many large-scale game development companies are leveraging virtual reality to enhance user experiences and drive business value. Rising demand for online video gaming is expected to drive the growth of the wearable gaming technology market.
Piracy is one of the challenges faced by the global wearable gaming technology market. Moreover, the cost associated with the development of gaming wearable devices and software is also high. This makes them available only to a small segment of customers and is thus expected to hamper global wearable gaming technology market growth to some extent during the forecast period.
The high growth potential of the wearable gaming technology market is expected to immerge as virtual reality games can be played on different computing devices including specialized game consoles, standalone systems, advanced laptops and PCs. This is further opening up opportunities for market players to develop more advanced VR headsets to provide gamers with a more immersive experience.
Geographically, the global market for wearable gaming technology is classified into regions namely, North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East and Africa.
The North American region is predicted to hold the largest market for wearable gaming technology. Due to the increasing adoption of advanced wearable gaming accessories, the growing demand for head-mounted displays, cloud computing, gesture tracking devices, and the robust presence of VR-based start-ups, North America is expected to generate the largest revenue share over the forecast period.
North America is estimated to hold a significant share of 30.5% of the wearable gaming technology market witnessing the highest growth. It is expected to take a greater share in the forecast period due to the rising focus on developing haptic-enabled wearables.
Furthermore, growth in the number of gaming hubs and increasing investment to develop advanced wearable gaming accessories are expected to drive the revenue of the North American wearable gaming technology market.
The Europe wearable gaming technology market has a global market share accounting for 21.6%. The region is expected to increase its share during the forecast period as they are fast in the adoption of technology.
A recent boom in the gaming industry has created value-grabbing opportunities for stakeholders in Europe's wearable gaming technology market. Augmented reality (AR) headsets and heart rate monitors are enabling manufacturers to unlock new revenue streams in the gaming industry.
The Asia Pacific region offers lucrative opportunities for key players in the wearable gaming technology market as the region is expected to register the highest growth in terms of revenue during the forecast period.
The rising popularity of casual and hyper-casual games, increasing internet penetration and the increase in the number of smartphone users will be boosting the demand for wearable gaming technology.
Principal Consultant
The wearable gaming technology market is very vast and competitive. In terms of share, a few of the key players dominate the market and will continue to dominate for the next decade.
Major companies profiled in the wearable gaming technology market include ICAROS GmbH, Cyberith GmbH, Zero Latency PTY LTD, Avegant Corp, HTC Corporation, Microsoft Corporation, ASUSTeK Computer Inc., Sony Corp, Razer Inc., and Teslasuit.
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| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 14.6% from 2022 to 2032 |
| Base Year for Estimation | 2022 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Device Type, Distribution, Age Group & Region - Forecast till 2032 |
| Countries Covered | North America; Europe; APEJ; The Latin America; MEA |
| Key Companies Profiled | ICAROS GmbH; Cyberith GmbH; Zero Latency PTY LTD; Avegant Corp; HTC Corporation; Microsoft Corporation; ASUSTeK Computer Inc.; Sony Corp; Razer Inc.; Teslasuit; Others |
| Customization | Available Upon Request |
The growth potential of the wearable gaming technology market can value at USD 76,421 Million by 2032.
The wearable gaming technology market is expected to grow at a CAGR of 14.6% from 2022 to 2032.
The market size of the global wearable gaming technology market is projected to grow by USD 19,560 million in 2022.
North America is expected to hold the highest share in the global wearable gaming technology market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Wearable Gaming Technology Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Wearable Gaming Technology Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Devices 5.1. VR Headset 5.2. Wearable Gaming Body Suit 5.3. Controller Stick 6. Global Wearable Gaming Technology Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Distribution Channel 6.1. E-Commerce 6.2. Retail Store 7. Global Wearable Gaming Technology Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Age Group 7.1. 10-15 Age 7.2. 16-25 Age 7.3. 26-35 Age 7.4. More than 35 Age 8. Global Wearable Gaming Technology Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Wearable Gaming Technology Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Latin America Wearable Gaming Technology Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Europe Wearable Gaming Technology Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. Asia Pacific Wearable Gaming Technology Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. MEA Wearable Gaming Technology Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14. Key Countries Wearable Gaming Technology Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Cyberith GmbH 16.2. Zero Latency PTY LTD 16.3. Avegant Corp 16.4. HTC Corporation 16.5. Microsoft Corporation 16.6. ASUSTeK Computer Inc. 16.7. Sony Corp 16.8. Razer Inc. 16.9. Teslasuit 16.10. ICAROS GmbH 17. Assumptions & Acronyms Used 18. Research Methodology
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