Virtual reality has leaped from science fiction to the world of video games pretty fast. VR has escalated the immersive nature of video games to offer an enhanced experience to players. The VR gaming industry is projected to reach $92.31 billion by 2027.
The closely-related augmented reality technology superimposes digital elements in the real world. But a VR app development company helps create a completely new experience for players. Look at some emerging trends to get a glimpse of how the VR gaming industry will take off in the video gaming arena.
The most enthralling theme at the Consumer Electronics Store in 2022 was VR-powered devices. It wasn’t just emerging gaming companies that were exhibiting VR potential. The biggest players in the VR gaming market, like Meta’s Oculus and Sony’s PlayStation, are ready to invest in VR technologies.
Samsung, Apple, and Google are also ready to jump on the VR bandwagon. The piqued interest will aid in a major transformation in the VR gaming industry. But even without the transition, we can expect the emergence of superior VR hardware and operating systems by the end of 2022.
The unprecedented growth in the VR gaming industry market can be attributed to the rising adoption of smart devices. Moreover, the availability of internet connectivity and its usage should also be considered. Every VR app development company will be mindful of mobile gaming growth.
We can expect to witness an increased production of head-mounted gaming displays due to a surge in demand. Even though North America will continue to hold the largest market share, growth will be the highest in the Asia-Pacific region. China, Japan, South Korea, and India will witness huge growth in the virtual reality gaming market.
Nowadays, we are calling our dear old Facebook Meta. Before the name change, Facebook acquired a virtual reality development company called Oculus, including the Oculus Rift. If you are wondering what Oculus Rift is, it’s a robust step toward VR gaming and its immersive nature.
When the acquisition took place, it almost seemed nonsensical. No one could figure out a sane justification behind the social media giant acquiring a VR gaming company. But after Facebook became Meta, the apparent reason came to the surface.
Meta is warming up to the concept of the metaverse like several other companies. The metaverse is nothing but a virtual world for users to join and interact. The social media platform will be able to attract more users with its footsteps into the metaverse.
Meanwhile, Oculus will benefit from the billion-strong user base of the social media giant. Oculus2 might soon become the only way to gain access to Meta and its multiple aspects in the metaverse. Since Meta now owns Oculus, it is likely to grow beyond a gaming rig.
Users might soon need to utilize Oculus VR tech as the chief tool to enter and interact in Meta’s virtual world. Furthermore, blockchain gaming technology, or crypto technology is evolving beyond imagination. Therefore, we can also further witness an enhancement of the VR experience.
The processors in our mobile phones are extremely powerful. The tiny processor chips can give high computing power to your smartphones. Our modern smartphones have been more powerful than an average computer for the past decade.
Since every VR app development company will focus on mobile games, the gap between mobile gamers and others will end. With the surprise partnership between Windows and Qualcomm, we can expect the rise of cross-platform virtual reality games.
As VR gaming becomes more portable, the demand for virtual reality chipsets will increase. The VR gaming industry market for AR/VR chipsets will grow at a CAGR of 23% between 2019 and 2026. Besides Qualcomm Technologies, it will also include other manufacturers like MEDIATEK Inc., Samsung Electronics, Intel Corporation, and more.
The escalated usage of chipsets will be triggered by the upgradation of smartphones, digital recorders, and more in the competitive consumer electronics market. A rise in the number of mobile devices and gaming consoles will also increase the need for VR chipsets. One should not forget to consider the steady expansion of the gaming community.
The first-generation VR games were based on a particular idea, concept, or environment. But they failed to make users feel that they were actually present in the environment. The games did not allow players to interact with objects inside their virtual environments and were simply made to watch how their avatars were controlled.
During the second generation of VR games, developers introduced new methods to play and build virtual worlds. The second-generation VR games have a certain amount of immersive nature to increase the excitement of players. The third-generation VR games have further increased the immersive nature to deliver an appealing experience.
Modern virtual reality games no longer lack non-visual cues for gamers. Tactile gloves and other inventions have added a new level of immersive nature to the games. The gloves will fit into your hands and act as gaming controllers.
You are able to receive tactile sensations as you interact with objects in VR games. With more inventions, you will be able to interact better with gaming objects. Therefore, you will have a thrilling gaming experience like never before.
5G VR cloud games are further enhancing the virtual reality gaming industry market. Several companies working in the virtual reality gaming arena are focusing on 5G VR cloud games to provide customers with low bandwidth and high latency services. In 2020, Archiact, the VR games studio from Canada, merged with Migu Co. Ltd.
Migu Co. Ltd. is a consumer technology company in China. The partnership will allow the establishment of the vision of 5G VR cloud gaming. It will ensure that virtual reality games become more accessible.
As serious gaming platforms are prioritizing VR, it will become more popular. No matter what advancements take place in the VR gaming industry, the virtual world has never seemed more real.
Virtual reality offers unique exposure to gaming technology. It enables players to interact with objects in the virtual space. They can get a 360-degree view of the world in which they are playing.
With the steady growth of virtual reality technology, there’s no harm in saying that it will become the future of gaming. Virtual reality and augmented reality technology elevate the gaming experience and attract more people to the gaming world.
Video games will implement ultra-realistic VR technology in 2050. The virtual reality app development companies will ensure that the games deliver a next-level immersive experience.
The virtual reality gaming market looks promising. The growth might not have been steady, but it has always been exponential. The global VR gaming revenue increased from $400 million in 2017 to more than one billion in 2020. By 2024, we can expect the revenue amount to reach $2.4 billion.