DUBLIN, March 31, 2016 /PRNewswire/ --
Gaming software maker Unity Technologies' latest round of fundraising could result in a company value of USD 1.5 billion. Unity, developer of one of the world's most popular licensed game engines, is currently meeting with investors with hopes of securing the resources needed to take advantage of the booming virtual reality market. The global virtual market is set to grow at a CAGR of 96.06% by 2019, according to a report available from Research and Markets, and Unity's investors are likely to recognize its incredible potential.
Unity develop software and tools used by others to build video games. Around 4 million video game developers have registered Unity accounts and 30% of the 1000 most popular mobile games have been developed using Unity's software. The same tools are used to build virtual reality apps, presenting Unity with a serious opportunity to establish the company as a VR software market leader.
The virtual reality in global gaming market is set to grow at a CAGR of 25.97% by 2019, as forecast in an industry report. This growth could be far greater than predicted if Unity is successful in fundraising as it will result in professional yet affordable software for VR developers.
In addition, Unity Technologies' VR software will stimulate growth in related submarkets. The global augmented reality market will grow at a CAGR of 88.5% by 2019, as predicted in a report, but again this growth will probably be greater due to Unity's involvement with the technological side of the market. Fundraising for Unity Technologies is expected to end within the next few weeks.
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SOURCE Research and Markets