How VR has Revolutionized Gaming Industry?

 

Virtual reality technology in gaming is the active application of a three-dimensional (3D) artificial environment to computer games. The VR environment is created with the help of VR software and specialized devices and offered to the end user in such a way that it supersedes the real-world environment. This way, it creates a suspension of disbelief and allows a user to experience the VR environment. There three major technologies included in VR gaming namely head-mounted displays, which are very popular and have the same quality of video as the traditional gaming monitor, and surround sound systems that will produce a surround sound experience. The third type of technology is motion-based games. In this system, the gamer is tracked by the game and can move around the environment. With these types of systems, you can move around the virtual world with your head movement but if you are playing the traditional games this isn't possible and you will feel like you are inside a compute.

Market Drivers

Growing availability of theme-based and griping games in VR format is expected to drive growth of the virtual reality in gaming market during the forecast period. Many gaming companies are focused on introducing novel PC and console-based games in VR format, in order to provide an immersive and enhanced experience to end users. For instance, in August 2019, VRGO Ltd., a U.K.-based VR company, introduced VRGO MINI, a gaming chain accessory for users to enjoy intuitive and comfortable seated movement. Therefore, such factors are expected to drive growth of the virtual reality in gaming market during the forecast period. Moreover, increasing disposable income is expected to propel the virtual reality in gaming market growth over the forecast period. According to the World Bank, in 2018, national income per capita was US$ 9,290, which increased from US$ 7,627 in 2008.

Market Restraint

Lack of awareness regarding the technology since it is the nascent stage, as well as compatibility issues, are expected to hamper the virtual reality in gaming market growth over the forecast period.

Market Opportunity

Advent of new start-ups can present lucrative growth opportunities in the market. Many gaming start-ups are incorporating different features of virtual reality in gaming, in order to provide an enhanced experience.

Competitive Section

Key companies operating in the virtual reality in gaming market include Oculus VR, Google LLC, HTC Vive, Samsung Corporation, Intel Corporation, Microsoft Corporation, Nintendo Co Limited, and Virtuix Omni.

For instance, in October 2020, HTC Vive introduced Cosmos Series x AORUS 15G, a combination of VR headset and laptop.