Virtual reality (VR) technology has evolved significantly over the past five years, with improvements on both the hardware and software side. However, issues such as latency, nausea, high prices, and underdeveloped ecosystems have been obstacles to widespread adoption.
Listed below are the key media trends impacting the VR industry, as identified by GlobalData.
Gaming is the most fertile ground for virtiual reality. Sony sold 4.2 million PSVR headsets between October 2016 and March 2019, while the newly launched Oculus Quest gaming headset is competing directly with the popular Nintendo Switch, which offers the Labo VR kit. Valve’s Index VR and HTC’s Vive Focus Plus headsets – both launched in 2019 – are also in the race. VR gaming job postings are also growing, with Indeed.com reporting a 93% increase between 2015 and 2018.
The next-generation gaming consoles from Sony and Microsoft are expected to feature advanced VR technology. Gaming represents an instrumental application area that will shape VR’s progress over the next few years.
VR arcades serve two purposes: spreading awareness about immersive entertainment technologies and content, and catalysing adoption. Of the approximately 4,000 VR arcades estimated to be operating globally, China has more than 3,000 of them, whereas the US has fewer than 100. With major demand arising from esports players, several arcade operators are initiating VR gaming tournaments, thereby merging arcade VR gaming and esports into a new format.
Game developers, like Vertigo Games and Bandai Namco, are making serious strides in the