EDIT: This post has been updated for 2020!
The global virtual reality (VR) in gaming market size is expected to reach USD 45.09 billion by 2025, according to a 2017 report by Grand View Research, Inc. These numbers are promising if we bear in mind that Virtual Reality has originally started in film and gaming industry, where creativity and engineering met and where various versions of imagined worlds were created and conceptualized.
Key players such as Microsoft, Sony and Nintendo are increasing their competitiveness, while VR-compatible consoles that are being launched and startups for VR gaming industry that want to thrive also trigger the industry growth.
One of the benefits for Virtual Reality for gamers is that it can provide an imaginary setting where the gamers’ physical presence is simulated to be a part of the three-dimensional environment. With VR equipment and accessories, the user can view, move around, and even interact with the objects within the game.
Gaming consoles are expected to emerge as the most favored devices for playing games equipped with VR technology. This will happen due to efficient processors that are increasing their power every single year in comparison to desktops and smart phones which may not match the immersive simulation experience provided by a console dedicated to playing games.
Indeed, at this point industry experts emphasize that there is a lack of awareness about VR technology in games; while there is also high initial investment, compatibility issues of virtual reality devices with consoles, spatial discomfort. Another risk that gets mentioned are physical and mental ailments that can potentially jeopardize the growth of such an advanced VR and video gaming industry.
In 2015, the U.S. VR in gaming market accounted for the largest revenue share; however, China is expected to emerge as a key regional market by 2025.
When it comes to Latin America and the EMEA regions, they will experience the fastest growth which may be attributed to rising awareness and demand for the technology in the coming years.
Due to the novelty of technology, more and more of VR accessories and wearables are still being developed; the Head Mounted Displays such as Samsung Gear, Oculus Quest, Oculus GO, Microsoft HoloLens 2 and HTC Vive, are guiding the way for VR hardware and content to become mainstream.
Along with them, it is worth paying attention to Razer, VirZoom, Virtuix and Infinadeck are prominent companies developing wearables, motion sensing devices, treadmills and gloves for allowing a person to move independently in a VR space.
There are also several upcoming trends in the virtual reality gaming industry that we may pay attention to:
Collaborating gaming scenarios and social experiences are becoming more in synergy.
Virtual reality can create social experiences even while gaming. The person who uses the virtual reality headset can only view the various virtualized elements. This can be also regarded as a piece of the puzzle where the individual who can view the elements needs to communicate the same to the other team members. The job of the team then is to conclude what is the thing to do thereafter.
Players in VR can get more engaging experience.
Players are more involved when the gaming is based on VR, equipping them with a higher number of tools at their disposal as compared to the flat-screen gaming. While flat-screen gaming does have the capacity to make the players feel emotional to some extent, it does not match up to a VR gaming experience where the players feel as if everything is happening in reality.
The players seem to feel that they are witnesses to the events and they are responsible for those scenes. Though earlier games had also done it to some extent, VR gives the players more tools in their hands.
There is virtually nothing impossible in VR that is not in ‘‘real’’ reality.
Virtual reality can make the players feel as if they belong to a scene rather than simply demonstrating things. The simulation enables the players to see things from a different angle. They can witness the experiences of other people, which was something unheard of even some years back.
Thus, the VR technology can create an interesting world of vivid imagination while shattering the scope of traditional education and learning.
At this point it may be difficult to think about, when exactly VR accessories such as HMD’s, motion sensing devices, treadmills, gloves, masks, backpacks, and bodysuits will witness a colossal growth. Still, it is expected that the demand for virtual reality hardware will increase drastically once the consumer versions are available on the open market.
What ARVRtech can do is create a serious gaming experience in a Virtual Reality context. We are proud at the moment of our previous games such as VR Ski Jump, VR Archery and VR HOPA Games targeted at product and brand marketing campaigns. So don’t hesitate and CONTACT US so we can get going with YOUR next AR or VR project!