VR, or virtual reality, in the gaming market is projected to grow at a CAGR of around 32.75% from 2021 to 2026. VR technology has amassed widespread popularity and adoption over the past decade. The latest technological improvements in this field have attracted many new enterprises. As a result, many new players are entering the gaming market with the goal of guiding it to large-scale adoption in the gaming market space. As per NewGenApps, the global user base of augmented reality and virtual reality games is expected to reach 216 million users by the year 2025. Let’s get more insights on how the virtual world can advance the gaming industry now and in the future.
Latest Trends in VR related to Gaming Industry
VR impact on the gaming market size
The increasing demand for cloud-based virtual reality software by users is expected to expand the market. Big brand companies are forming strategic partnerships and collaborations to improve their market position by utilizing cloud technology in the VR gaming industry. Microsoft collaborated with Sony to develop a cutting-edge cloud gaming platform and online content streaming solution. This tie-up is also projected to drive overall market growth globally. Likewise, other brands in the gaming industry, like NVIDIA, Huawei Technologies, and Advanced Micro Devices, are making investments in advanced hardware development based on GPU-as-a-Service cloud technology. It is expected to increase the market share of virtual reality (VR) in gaming.
VR gaming hardware
The electronic market is filled with VR gadgets ideal for the diverse tastes of users. As a result, developers are working tirelessly on making further improvements to VR headsets, making them more lightweight, agile, and ergonomic. The fields on which developers are currently focusing are:
- Freedom of movement
- 5G speed internet or higher
- Data security
- Quality content
VR facilitates more involvement between players
Compared to flat-screen games, VR games allow players to be more involved with the help of a number of tools. Virtual reality offers players a gaming experience where they feel directly involved in every event and are solely responsible for the outcomes of the scenes. In addition, 3D games take the user one step forward by placing them within the game environment, making them feel as if they are holding the weapons themselves and firing or are being attacked by the opposition.
Online games, with the assistance of virtual reality technology, have offered a platform where users can play amongst their peers and strangers. Now you can even enjoy an online slot game with a colleague or a friend settled on the other side of the globe.
Educational use of VR games
It has been observed recently that interactive games can be handy for students to understand their lessons in a better way. Developers are building “virtual instruction programs” with virtual reality classroom applications and also a new type of study content for educators. Numerous trusted platforms in the EdTech industry are well versed in the impact that VR might have on education. Some future vision companies have even begun scoring big with the launch of numerous AR-based educational games.
Benefits of VR in the Gaming industry
Perks of using VR in gaming
VR became a catalyst in the gaming industry and drastically improved the player experience. VR is one of the most talked-about trends in gaming, and it has caught the attention of the gaming market right now. There are numerous benefits of using VR-driven applications in gaming that include,
- It offers gamers mind-blowing virtual objects.
- It provides an ability to take users into the virtual game in real-time.
- Ultra-modern capabilities that enhance the game environment.
- Improves retention & attraction among gaming players.
- Appears more engaging for experienced players & occasional gamers.
- Immensely elevated user engagement via an immersive experience.
- Digitally extended reality anytime and anywhere.
Virtual reality devices utilized in the gaming sector are enabled with interactive hardware and software. VR games can be controlled or experienced through body movements. Thus, a player with a VR headset can move around the virtual world.
The VR-supporting gaming industry’s market size is growing at a rapid rate. The ideas deployed in VR games are fascinating in every way. This is the reason why virtual reality has the capability to launch the next “big thing” in the gaming industry. VR in gaming is definitely helping businesses increase their revenue exponentially. As a result, we can predict that virtual reality will catapult the gaming industry into a higher orbit in a relatively short period of time.