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Virtual Reality (VR) In Gaming Market size is set to grow by USD 36.14 bilion from 2024-2028, Increasing adoption of VR in interactive home entertainment industry boost the market, Technavio

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NEW YORK, June 26, 2024 /PRNewswire/ — The global virtual reality (VR) in gaming market size is estimated to grow by USD 36.14 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 38.19%  during the forecast period. Increasing adoption of VR in interactive home entertainment industry is driving market growth, with a trend towards growing popularity of 360-degree content. However, privacy concerns over gamers information  poses a challenge. Key market players include Advanced Micro Devices Inc., Alphabet Inc., bHaptics Inc., Carl Zeiss AG, Electronic Arts Inc., Fallen Planet Studios Ltd, HTC Corp., Magic Leap Inc., Meta Platforms Inc., Microsoft Corp., Nintendo Co. Ltd., NVIDIA Corp., Qualcomm Inc., Razer Inc., Samsung Electronics Co. Ltd., Sony Group Corp., Ubisoft Entertainment SA, Unity Technologies Inc., Virtuix Inc., and Wookey Technologies Inc..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Virtual Reality (VR) In Gaming Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 38.19%

Market growth 2024-2028

USD 36147.9 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

27.8

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 46%

Key countries

US, China, Germany, Japan, and UK

Key companies profiled

Advanced Micro Devices Inc., Alphabet Inc., bHaptics Inc., Carl Zeiss AG, Electronic Arts Inc., Fallen Planet Studios Ltd, HTC Corp., Magic Leap Inc., Meta Platforms Inc., Microsoft Corp., Nintendo Co. Ltd., NVIDIA Corp., Qualcomm Inc., Razer Inc., Samsung Electronics Co. Ltd., Sony Group Corp., Ubisoft Entertainment SA, Unity Technologies Inc., Virtuix Inc., and Wookey Technologies Inc.

Market Driver

The VR gaming market is experiencing significant growth due to the introduction of advanced VR devices and 360-degree videos. Companies like Facebook, Sony, and HTC have launched VR headsets, such as the Oculus Quest 2, driving market expansion. The popularity of 360-degree videos, recorded using devices like GoPro Freedom360 and Kodak PIXPRO SP360 4K Dual Pro Pack, enhances the gaming experience by allowing users to change perspectives. Platforms, such as 360Heros, offer services for creating immersive 360-degree content. This trend is expected to continue, making VR a mainstream platform in the gaming industry. 

The Virtual Reality gaming market is experiencing significant growth, with technologies such as Augmented Reality (AR), Spatial Audio, and Motion Captivity gaining popularity. Consumers are increasingly seeking immersive experiences, leading to increased demand for VR games. Companies are investing in Consoles and Content to meet this demand. Three-dimensional audio and haptic feedback are key features enhancing the gaming experience. The industry is also focusing on improving graphics and expanding game libraries. Interactivity and real-time tracking are essential trends, with games like Minecraft and Fortnite leading the way. Virtual environments offer endless possibilities, making VR gaming an exciting and dynamic market to watch. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

In the Virtual Reality (VR) gaming market, vendors face challenges related to user privacy. Cookies are used to collect data, but gamers often block these activities or uninstall apps. This results in lost revenue and the inability to implement freeware models. To address this issue, vendors now seek user consent before downloading or installing VR games. However, privacy concerns persist, as gamers are cautious about extensive app usage due to potential data access. This hinders the growth of the VR gaming market.The Virtual Reality gaming market is experiencing significant growth, with companies developing innovative technologies and experiences. However, challenges persist in this industry. One major challenge is the high cost of VR hardware and software, limiting its accessibility to a wider audience. Another challenge is the development of engaging and immersive content to keep users interested. Additionally, tracking technology and compatibility issues across different devices can be problematic. Furthermore, the need for continuous innovation to stay ahead of competitors is a constant pressure. Despite these challenges, the potential rewards for companies that can overcome them are substantial, making the VR gaming market an exciting and dynamic space to watch.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This virtual reality (vr) in gaming market report extensively covers market segmentation by  

Application 1.1 PCs1.2 Consoles1.3 Mobile devicesComponent 2.1 Hardware2.2 SoftwareGeography 3.1 APAC3.2 North America3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 PCs-  The VR gaming market is set to expand with the release of advanced headsets like Apple Vision Pro. This device, offering AR and VR capabilities, boasts ultra-high-resolution screens for an immersive gaming experience. Developers create exclusive content for these headsets, such as Batman: Arkham Knight with a distinct storyline. However, the high price point, ranging from USD500 to USD900, may deter some consumers, potentially limiting market growth.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The Virtual Reality (VR) gaming market is experiencing significant growth, driven by the immersive technology that provides users with a unique and engaging experience. VR accessories, such as bodysuits, gloves, and Head-Mounted Displays (HMDs), enhance the user’s interaction with the game, enabling motion tracking and 3D effects. The industry’s spending capacity continues to increase, attracting investors and entrepreneurs to capitalize on the competitive edge that VR games offer. Content creation tools and development are essential for the industry’s growth, with software, middleware, engines, and various tools being utilized to create immersive experiences. The use of UTSA (User Testing, Surveys, and Analytics) ensures the development of high-quality content that resonates with the user base.

Market Research Overview

The Virtual Reality (VR) gaming market is experiencing significant growth, with advances in technology leading to more immersive experiences. VR technology enables gamers to step into new worlds, offering a level of engagement that traditional gaming can’t match. The industry is expanding rapidly, with innovations in hardware and software driving new applications and experiences. VR gaming covers a wide range of genres, from action and adventure to education and simulation. The market is also seeing increased interest from industries such as healthcare and training, where VR offers unique benefits. VR gaming requires specialized equipment, including headsets and controllers, and the market is seeing competition in this area as well. Overall, the VR gaming market is an exciting and dynamic space, offering endless possibilities for innovation and growth.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationPCsConsolesMobile DevicesComponentHardwareSoftwareGeographyAPACNorth AmericaEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Technology

Happiest Minds accelerates to 31% growth in Q4, reports revenues of ₹545 Crores driven by strong deal closures

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57 minutes ago

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May 13, 2025

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Robust annual EBITDA of ₹462 Cr at 21.4% margin, reflecting consistent operating profitability

BENGALURU, India and SEATTLE and LONDON, May 13, 2025 /PRNewswire/ — Happiest Minds Technologies Limited (NSE: HAPPSTMNDS), a ‘Born Digital. Born Agile’, a digital transformation and IT solutions company, today announced its consolidated results for the Fourth quarter ended March 31, 2025, as approved by its Board of Directors.

Ashok Soota, Chairman & Chief Mentor, said, “Happiest Minds continues to show above-industry-leading growth this fiscal year. The ten strategic transformational changes that we rolled out are shaping Happiest Minds’ future. Our strategic initiatives, along with the continued commitment of our teams, have us well-positioned for strong double-digit organic growth in FY26 and beyond. Economists are projecting a slowdown in some of our largest markets; I want to emphasize that we have healthy pipelines of demand and do not see any recession-driven slowdown.”

Joseph Anantharaju, Co-Chairman & CEO, said, “The transformative initiatives we have launched over the last year are beginning to yield results and are laying a robust foundation for future growth. Our move to a vertical structure has resulted in accelerated growth in several verticals like Healthcare and BFSI. We continue to see an increase in the share of the Healthcare vertical, which saw large new deals totalling $20 Mn from 4 customers and these are likely to be repeated next year. The two transformations that we initiated around GenAI BU and the independent NN hunting team have seen a good buildup in the pipeline that should result in revenue growth. Our other initiatives around High Potential accounts, GCC and Private Equity pursuit are beginning to take hold and should start yielding results in the ensuing quarters.”

Venkatraman Narayanan, MD & CFO, said, “I am extremely happy to report on an annual growth of 26% in constant currency with an EBITDA of 21.4%, the latter, well in line with our guidance. Adjusted for a one-time bad debt and continued investments in Gen AI and Sales teams, Operating margin and EBIDTA continue to be industry leading and comparable to the previous year. PAT and EPS adjusted for acquisition related costs and exceptional item, a reliable measure of performance, continues to remain steady.”

Key Financial highlights

Quarter ended March 31, 2025

Revenue in constant currency grew 1.1% q-o-q and 27.9% y-o-yOperating Revenues in US$ stood at $63 million, growing 0.3% q-o-q and 25.6% y-o-yTotal Income of ₹ 57,052 Lakhs grew 3.0 % q-o-q and 28.9% y-o-yEBITDA of ₹ 10,984 Lakhs, stood at 19.3% of Total Income. Decline of 6.0% q-o-q on account of an unfortunate bad debt of ₹ 1,204 Lakhs while growing 1.5% y-o-yPAT of ₹ 3,401 Lakhs 6.0% of Total Income.Adjusted PAT and EPS (adjusted only for non-cash charges and exceptional items), a more reliable profitability measures stand at:Adjusted PAT of ₹ 5,668 Lakhs at 9.9% of Total Income (decline of 4.5% and 13.0% y-o-y⁴)Adjusted EPS at ₹ 3.76

Year ended March 31, 2025

Revenue in constant currency grew 25.6%Operating Revenues at US$ $243.6 million grew 24.2%Total Income of ₹ 216,222 Lakhs grew 26.4%EBITDA of ₹ 46,224 Lakhs, at 21.4% of Total income, Absolute growing of ₹ 4,102 LakhsPAT of ₹18,466 Lakhs at 8.5% of Total Income.Adjusted PAT and EPS (adjusted for non-cash charges and exceptional items), a more reliable profitability measure stands at:Adjusted PAT of ₹ 24,638 Lakhs 11.4% of Total IncomeAdjusted EPS at ₹ 16.37

 

 

All amounts in ₹ Lakhs unless stated otherwise.

Particulars

Q4 FY25

Q3 FY25

QoQ

Q4 FY24

YoY

FY25

FY24

YoY

Revenues ($’000)

62,919

62,719

0.3 %

50,077

25.6 %

2,43,570

1,96,130

24.2 %

Growth in CC

1.1 %

27.9 %

25.6 %

Revenues

54,457

53,081

2.6 %

41,729

30.5 %

2,06,084

1,62,466

26.8 %

Other Income

2,595

2,296

2,521

10,138

8,537

Total Income

57,052

55,376

3.0 %

44,250

28.9 %

2,16,222

1,71,003

26.4 %

Operating Margin1

7,937

9,264

(14.3) %

8,390

(5.4) %

35,749

34,044

5.0 %

%

14.6 %

17.5 %

20.1 %

17.3 %

21.0 %

EBITDA

10,985

11,686

(6.0) %

10,822

1.5 %

46,224

42,122

9.7 %

%

19.3 %

21.1 %

24.5 %

21.4 %

24.6 %

Finance Cost

2,379

2,442

975

9,112

3,985

Depreciation

1,201

1,172

857

4,552

3,844

Profit before Non Cash/Exceptional

7,401

8,073

(8.3) %

8,990

(17.7) %

32,553

34,292

(5.1) %

%

13.0 %

14.6 %

20.3 %

15.1 %

20.1 %

Amortization/Unwinding Interest2

1,145

1,178

668

5,151

2,224

Exceptional Item

1,216

–

1,295

1,858

1,402

PBT

5,039

6,894

(26.9) %

9,615

(47.6) %

25,547

33,468

(23.7) %

%

8.8 %

12.5 %

21.7 %

11.8 %

19.6 %

Tax

1,638

1,884

2,417

7,080

8,629

%

2.9 %

3.4 %

5.5 %

3.3 %

5.0 %

PAT

3,401

5,010

(32.1) %

7,198

(52.8) %

18,466

24,839

(25.7) %

%

6.0 %

9.0 %

16.3 %

8.5 %

14.5 %

Adjusted PAT3

5,668

5,937

(4.5) %

6,515

(13.0) %

24,638

25,425

(3.1) %

%

9.9 %

10.7 %

14.7 %

11.4 %

14.9 %

Adjusted Earnings per Share (₹)4

3.76

3.94

4.33

16.37

16.89

 

Note 1 – Operating Margin is EBITDA excluding other income 

Note 2 – Amortization and unwinding interest are non-cash items from the acquisition 

Note 3 – Adjusted PAT is Adjusted for exceptional items and amortization of intangibles 

Note 4 – Adjusted EPS is Adjusted for exceptional items and amortizations of intangibles

 

Clients:

281 as of March 31, 202514 additions in the quarter

Our People – Happiest Minds:

6,632 Happiest Minds as of March 31, 2025Trailing 12-month attrition of 16.6% (15.3% in the previous quarter)Utilization of 77.4%, from 78% in last quarter

Key wins:

For a US based not-for-profit organization in media and publication, Happiest Minds has been chosen as a strategic partner to build their customer master data management using Pimcore® platform.For an American Insurance broker, Happiest Mind is leveraging MS Power Platform to build their Client Data PortalFor a global market research agency, Happiest Minds is leveraging Generative AI to develop their End User Chat platformFor a US manufacturer of intelligent fluid-flow equipment, Happiest Minds was chosen to build their next-generation connected productsFor a Middle Eastern E-Commerce company, Happiest Minds is providing cybersecurity assessment & implementation servicesFor a Middle Eastern bank, Happiest Minds is providing Risk and Governance Consulting Services

Award Wins:

Happiest Minds is awarded Best DevOps Framework for Scalability and Security (IT Services) in the 6th Edition India DevOps Show 2025.Happiest Minds is ranked 2nd in “IT Services” category at the ESC Export Excellence Awards 2025Happiest Minds is recognized among ‘Inspiring Firms in AI & Analytics’ at the 3AI ACME AwardsHappiest Minds has won WOW Workplace Award for IT, ITeS & GCC

Analyst Mentions:

Happiest Minds is ‘Product Challenger’ in ISG Provider Lens Study for Digital Engineering Services – Europe, USHappiest Minds is ‘Major Contender’ in Everest Industry 4.0 PEAK Matrix 2025Happiest Minds is ‘Major Contender’ in Everest Data and AI (D&AI) Services for Mid-market Enterprises PEAK Matrix 2025Happiest Minds is ‘Innovator and Major Player‘ in NelsonHall’s Transforming Core Banking Services NEAT ReportHappiest Minds is among ‘Seasoned Vendors’ in AIM Research’s PeMa Quadrant for MLOps Service Providers 2025

Announcements:

The Board of Directors of the Company at their meeting held on May 12, 2025 has recommended a final dividend of ₹ 3.5 per equity share of face value ₹ 2/- for the financial year 2024-25 subject to shareholder approval.

For further details please refer to the Investors presentation hosted on the company website — Investors section

About Happiest Minds Technologies:

Happiest Minds Technologies Limited (NSE: HAPPSTMNDS), a Mindful IT Company, enables digital transformation for enterprises and technology providers by delivering seamless customer experiences, business efficiency and actionable insights. We do this by leveraging a spectrum of disruptive technologies such as: artificial intelligence, blockchain, cloud, digital process automation, internet of things, robotics/drones, security, virtual/ augmented reality, etc. Positioned as ‘Born Digital. Born Agile’, our capabilities span Product & Digital Engineering Services (PDES), Generative AI Business Services (GBS) and Infrastructure Management & Security Services (IMSS). We deliver these services across industry groups: Banking, Financial Services & Insurance (BFSI), EdTech, Healthcare & Life Sciences, Hi-Tech and Media & Entertainment, Industrial, Manufacturing, Energy & Utilities, and Retail, CPG & Logistics. The company has been recognized for its excellence in Corporate Governance practices by Golden Peacock and ICSI. A Great Place to Work Certified™ company, Happiest Minds is headquartered in Bengaluru, India with operations in the U.S., UK, Canada, Australia, and the Middle East.

Safe harbor

This press release contains forward-looking statements, which may involve risks and uncertainties. Actual results may differ materially from those expressed or implied due to various factors including but not limited to changes in market conditions, technological advancements, regulatory developments, and the overall economic environment. Happiest Minds undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

For more information, contact:

Dr. Kiran Veigas
Vice President and Head – Corporate Marketing, Branding & Communications
Media Contact: media@happiestminds.com
Investors Relations: IR@happiestminds.com

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Technology

Eatron Opens Tokyo Office Following Selection for Tokyo Metropolitan Government’s Prestigious Green Transformation Program

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57 minutes ago

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May 13, 2025

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TOKYO, May 13, 2025 /PRNewswire/ — Eatron Technologies Limited, a UK-based developer of AI-powered battery optimization software platform, has established its Japan office in Tokyo following its selection for the Tokyo Metropolitan Government’s GX (Green Transformation) Support Program for Foreign Companies.

 

 

This program is designed to attract and support overseas companies with advanced technologies that can contribute to Japan’s decarbonization and sustainability goals. Eatron was one of seven companies selected through a competitive process, which included 59 applications from 20 countries and regions.

Eatron develops Intelligent Optimization Software for lithium-ion batteries, which integrates AI, physical models, and cloud-edge architecture to improve the safety, performance, and lifetime of the batteries in operation. The software is used across a wide range of applications including electric vehicles (EVs), light mobility, commercial vehicles, and energy storage systems (ESS). Key functions include accurate estimation of battery State of Charge (SoC) and State of Health (SoH), which are critical to ensure high performance and longevity enabling second-life battery applications and supporting a circular battery economy.

The establishment of the Tokyo office extends Eatron’s global coverage and enhances its collaboration with automotive OEMs, battery pack suppliers, Tier 1s, and ESS integrators in Japan.

Eatron is currently active in several global research and industry consortia, supporting areas such as enhanced battery safety, battery swapping, modular battery system optimization, and fleet-level battery analytics. These technologies aim to improve cost efficiency and flexibility in electrification strategies.

The Tokyo office will also serve as the base for Eatron’s future local hiring and partnerships, with a view to expanding technical and commercial operations in Japan over the next five years. Initial hires will support engineering, business development, and customer success roles.

“We would like to thank the Tokyo Metropolitan Government and the review committee for their support,” said Dr Umut Genc, CEO of Eatron. “Our aim is to contribute intelligent, scalable software solutions to support Japan’s goals in electrification and sustainable energy.”

About Eatron
We develop AI-powered battery optimization software that gives our clients the edge in safety, efficiency, and performance.

With advanced technology and world-class engineering, we help industries tackle challenges, reduce risks and lead the electrification revolution.

Website
LinkedIn
Youtube

Links
Support for GX-Related Foreign Companies – Invest Tokyo – Tokyo Metropolitan Government

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Technology

WTF Summit: Sumsub Unites Global Experts to Fight the Fraudemic

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57 minutes ago

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May 13, 2025

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Launching Inaugural Summit in Singapore to Spearhead Collaborative Efforts in Building the Future of Digital Trust 

MIAMI, May 13, 2025 /PRNewswire/ — Sumsub, a global full-cycle verification platform, today announced the launch of its inaugural flagship event—What The Fraud Summit (WTF Summit), the first visionary summit to beat the global fraudemic. The first edition of the event is set to take place at Andaz Singapore from November 19 to 20, 2025. With an assembly of over 500 experts and industry leaders from fraud prevention, compliance, financial crime, regulation, and product innovation, the WTF Summit aims to bridge the gaps between fraud prevention, AI-driven security, regulatory shifts, and digital resilience to formulate actionable anti-fraud strategies to drive the future of digital trust.

With the democratization of fraud and the continuously evolving fraud tactics, Asia-Pacific (APAC) has witnessed a 121% year-on-year increase in identity fraud in 2024, revealed by Sumsub’s 2024 Identity Fraud Report. Another alarming trend observed globally is that nearly half of companies and end users worldwide reported being victims of identity fraud at least once last year, and businesses suffer a loss of approximately $300,000 per fraud event.

“With the rapidly growing fraud risks across the globe, we recognized a critical need for a dedicated platform for industry leaders, regulators and fraud experts to have bold conversations and exchange actionable insights to beat the global fraudemic,” said Andrew Sever, Co-founder and CEO of Sumsub. “By launching the WTF Summit in APAC, we aim to fill the gap in discussions surrounding the multifaceted nature of fraud prevention in the region. Our goal is to collaborate with top minds to craft holistic strategies to create a safer digital future for everyone.”

Top Industry Voices to Shape the Future of Fraud Prevention 

The WTF Summit presents a diverse lineup of speakers, including renowned experts and thought leaders from the space of fintech, crypto, tech, and compliance to connect the dots between fraud prevention, AI security, regulation, and resilience. 

Among all, some of the highlighted speakers at WTF Summit include (arranged in no particular order):

Frans Wiwanto, Managing Director, APAC, FlywireDavid Song, Head of Digital Business Unit, Green Link Digital BankJoseph Gan, CEO, V-KeyAnson Zeall, Founder, Azentiq NexusDesmond Yong, Founder, Meta Alpha, and Legal & Compliance DirectorEelee Lua, Co-founder & COO, DefySteve Craig, Founder & CEO, PEAK IDVAnnette Lu, Head of Compliance, APAC, Hex Trust

Speaker nomination is now open and available here.

In-depth Agenda Addressing Modern Fraud Challenges 

The WTF Summit is designed to deep dive into modern fraud challenges through a mix of keynote sessions, panel discussions, hands-on workshops and networking opportunities.

At the Main Summit (November 20), attendees can look forward to sessions that provide practical takeaways focused on four key topics:

AI & Fraud: How emerging AI-driven fraud schemes are evolving and what proactive defenses businesses need to stay ahead;Digital Identity: Best practices from various industries in securing digital identity while ensuring accessibility and compliance;Compliance: The shifting regulatory landscape, including fraud and compliance trends, risk intelligence, and fraud detection;Crypto: Addressing cross-border challenges, tokenization, and regulatory shifts in the digital asset space.

In addition, Sumsub will offer expert-led workshops with certifications on the day before the Main Summit (November 19). The workshops will be in three specialized modules, which are related to modern scams and deepfakes, smart and compliant onboarding, as well as AML investigations and case management respectively.

The workshop series is proven to equip participants with hands-on experience and practical training, as Sumsub has already successfully conducted similar workshops for INTERPOL and other organizations.

Limited Early Bird Ticket Offer Opens Now

Tickets to WTF Summit can be purchased at the official website: https://sumsub.com/wtf-summit/. The first 100 tickets can enjoy an early-bird discounted offer.

Follow the official LinkedIn page of WTF Summit for the latest updates.

###

About Sumsub

Sumsub is a full-cycle verification and ongoing monitoring platform that secures the whole user journey. With Sumsub’s customizable KYC, KYB, Transaction Monitoring, Fraud Prevention and Travel Rule solutions, you can orchestrate your verification process, welcome more customers worldwide, meet compliance requirements, reduce costs, and protect your business.

Sumsub has over 4,000 clients across the fintech, crypto, transportation, trading, edtech, e-commerce and gaming industries including Duolingo, Bitpanda, Wirex, Avis, Bybit, Vodafone, Kaizen Gaming, and TransferGo.

 

 

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