The online gaming industry, and esports in particular, is growing every day. Now, Virtual Reality is on the rise too. According to a new study, the global Virtual Reality gaming market is anticipated to reach a whopping $48.2 billion by 2026. However, it’s not just gaming that VR is affecting. Whether it’s healthcare, the army, or automotive industry, Virtual Reality is revolutionizing how we develop products and interact with others. The future of this tech is huge. Here’s why VR is only getting bigger.
Why Virtual Reality gaming is being embraced around the world
Virtual reality has been totally revolutionary in the online gaming world, enhancing user experiences and bringing world-building to life. Some of the benefits of Virtual Reality gaming include:
- An enriched gaming environment with improved capabilities.
- Increases attention span in gamers.
- Is more appealing than non-VR gaming to both pros and part-time gamers.
- Is immersive and brings the gamer into the game in real-time.
- Hugely improved user engagement.
Esports is growing rapidly
Esports is one gaming subset that is embracing Virtual Reality in a big way. Games like Echo Combat embrace VR in a big way. Teams play as strange flying characters that zoom through a colourful landscape, climbing up to find vantage points and target their opponents. Players need to make real-world climbing motions, pulling themselves higher and higher to gain a better view of their targets.
VR in the Gambling & Casino industry is growing
The gambling and casino world has also embraced Virtual Reality. According to new reports, the VR gambling world will soon be the fastest-growing sector, progressing at a CAGR of 14.9%. Slots are some of the most popular and advanced VR casino options, with titles including Jack, Stardust, Dracula, and Beanstalk.
VR gaming market size
When we look at why Virtual Reality is only getting bigger, we need to understand the numbers. The total number of virtual reality users around the world clocked in at 171 million in 2018. That’s up from 90 million in 2017. The VR market is forecast to grow from a valuation of $7.9 billion in 2018, to $48.2 billion in 2026 – that’s under a decade of growth.
Why is VR so popular?
Aside from gaming, Virtual Reality has also been used in a variety of other sectors. From healthcare, to military training, and art, Virtual Reality literally has endless use-cases. Each day, more and more people are embracing VR and that likely won’t slow down. Particularly as we transition to a more virtual world (thanks to a push from Covid-19), we’ll likely see conferences, work meetings, and friend gatherings taking place in virtual environments.
VR in the future is going to be bigger than we can imagine
Now that we’ve taken a look at why Virtual Reality is only getting bigger, it’s clear that esports, and gaming are major contributors. However, VR is being used in almost every sector of society. It has so many uses, it’s impossible to imagine all of the possibilities. As we move into a digital world, we’ll see more and more people embracing the tech. Already, forecasts have placed the industry at a valuation of $48.2 billion in 2026. VR is growing fast, and there’s a good reason why.