Virtual Reality in Gaming Market Trends

Growth Drivers

• Upsurge in the Demand for VR Headsets –VR headsets is the only thing needed for playing VR games. The surge in the demand for VR headsets is expected to drive the demand for virtual reality in gaming. For instance, it is forecasted that the global annual unit sales of VR headsets in 2022 to reach more than 8 million units.
• Growing Use of Virtual Reality (VR)– According to reports, in 2021, it was observed that over 58 million people in United States had used VR at least once in a month.
• Rising Number of Mobile Game Players – As per the statistics, in 2020, 43% of all the time spent on smartphones went to gaming and there were over 2.5 billion people are mobile game players.
• Surge in the VR Game Spending – VR game spending accounted for 0.4 % of the total revenue generated by gaming hardware and software developers in 2020.
• Increasing Number of Female Gamers – According to reports, in the United States, female to male ratio of hyper-casual players was estimated to be 55% to 45%, while 43% female owing VR devices in 2021.

Challenges

• Creation of VR Games and Devices is Expensive and Labor-intensive
• Available VR Devices are Incompetent in Providing Full-fledged Experiences
• VR Devices are Expensive for Modern Users