The gaming industry has seen extraordinary growth over the years, from the very early days of arcade games right down to the present-day burst of virtual reality (VR). As technology keeps on advancing, the future of VR gaming is set to be truly an immersive experience. In this article, we’ll discover what’s next for the industry as well as how VR is set to revolutionise the gaming world.
Is VR Better Than Traditional Video Games?
At this point in time, we can’t say that one of them is just ‘better’. Both of these forms of have their advantages and shortcomings. However, it seems as if VR game development has much larger positive outlook in terms of immersion, fun and realistic gameplay. So, when the industry deals with several issues that it still faces, it will most probably take up a big portion of the market.
Is VR MMO Feasible? New Virtual Reality Technology
Virtual reality is not restricted to headsets as well as optical devices. After all, “VR” means that the elements of reality, with physical features, are utilised in real-time within a computer-generated world. For that very reason, VR technology should not only be visually appealing but will ideally also concern movement or speech.
A whole other variety of technologies can be utilised to make this possible. Stereo projection, optical tracking systems, together with force feedback are merely a small selection of the technologies developers are using.
As these are slowly becoming more refined, virtual reality reaches gamers more readily, becoming ever more extraordinary and versatile. This, in turn, can assist with the creation of a far more complex and engaging VR MMO games.
The Growth Of VR Gaming
Many people believe that VR has not lived up to its potential. Even though the promises were first too good to be true and we only saw one or two traditional and online pokies games get the VR treatment, the growth is now absolutely impressive.
In spite of the limitations – such as bulky hardware, technical glitches, lack of content variety as well as adoption unwillingness on the part of both consumers and companies – VR gaming has proven its potential and has grown far ahead of many expectations.
The growth has been not just steady but nearly exponential. The size of VR gaming revenue totalled $400 million in 2017, however it grew to $1.1 billion in 2020. This growth is predictable to reach $2.4 billion in 2024.
So, despite the overall scepticism, the industry is clearly growing at an extraordinary rate, particularly considering its many limitations.
What’s more, big and famous companies dominate the VR headset market. Facebook has the most critical share with 38.7%. Sony owns a whopping 21.9%. We’ve all heard of Oculus and PlayStation VR and how better they’ve gotten in the last couple of years.
The entire VR software and hardware market size grabbed $2.6 billion in 2020 and is projected to reach $5.1 billion by 2023.
However, the size of the worldwide VR gaming market is significantly larger in comparison and is poised to see the quickest growth. The VR gaming market was estimated at $11.56 billion in 2019 and is set to get to $92.3 billion by 2027.