By 2025, the Worldwide User Base of AR and VR Games is Expected to Increase to 216 Million Users – Yahoo Finance

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Dublin, April 21, 2022 (GLOBE NEWSWIRE) — The “Global Virtual Reality In Gaming Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)” report has been added to ResearchAndMarkets.com’s offering.

Virtual reality (VR) in the gaming market is expected to grow at a CAGR of 32.75% over the forecast period (2021 – 2026). VR technology has gained widespread recognition and adoption over the past few years. Recent technological advancements in this field have revealed new enterprises.

Numerous players are emerging in this market with the hopes of navigating it toward mainstream adoption in the gaming market space. According to NewGenApps, by 2025, the worldwide user base of AR and VR games is expected to increase to 216 million users.

Market Dynamics

Drivers

Restraints

Key Highlights

  • VR gaming involves a 3D environment that enables the user on a computing device with the help of a mouse, touch screen, and other components to feel the physical presence in the game settings. The various accessories associated with the VR technology, such as virtual reality headsets, wrap-around display screens, virtual reality rooms equipped with wearable computers, and sensory components, enables gamers to interact, view, and move around the objects in the game setting. According to a worldwide survey of technology company executives, startup founders, investors, and consultants, 59% of respondents believe gaming will dominate the investment directed to the development of VR technology.

  • Moreover, VR gaming provides interaction and communication to gamers in the game environment, which is attracting more children’s and gamers, thus driving the growth of the market. According to 3Dinsider, more than 64% of active VR users believe that gaming has the highest potential to benefit from advances in VR technology.

  • Further, the market is creating various jobs related to VR gaming, such as game designers, producers, programmers, artists, as well as business, sales, and marketing roles. According to 3Dinsider, between 2015 and 2018, job postings for designers, programmers, and artists for VR games have risen, accounting for 93%.

  • VR headset is gaining traction across the market due to its specific application for games, such as HTC Vive and the PlayStation VR. For instance, in March 2019, Sony announced that it had sold more than 4.2 million PlayStation VR headset worldwide.

  • With the recent outbreak of the COVID-19, the market for VR gaming is witnessing a significant increase in adoption as most of the countries have enforced lockdown, and people are spending their time on VR gaming amid this lockdown.

  • Many VR gaming providers, such as HTC Viveport, are giving many features to make people stay at home and play them instead of going out. For instance, Viveport Infinity’s annual subscription is 75% off, taking it down from USD 107.88 per year to USD 27.

  • In April 2020, UTSA researchers launched the first worldwide Accessibility VR Game Jam, which is accessible to gamers with disabilities. But due to COVID-19, they worked to quickly to migrate the game jam to an online-only environment.

Key Market Trends

Premium Mobile Platform to Hold Significant Market Share

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