Virtual reality is a computer-generated, artificial recreation, or simulation of real-life situations or environments. The users are immersed by virtual reality as it makes them feel like experiencing a firsthand simulated reality by stimulating the viewer’s hearing and vision.
In VR, the computer uses algorithms and sensors, and the eye position of the user is set inside the simulated environment. Graphics react according to the movement of the user’s head. Instead of real compositing scenes or virtual objects, VR technology creates an interactive and convincing world for the viewer.
The head-mounted display (HMD) is the most recognizable component of virtual reality. Humans are the visual beings, and one most noticeable difference between the traditional user interface and engrossed Virtual Reality system is head-mounted display technology.
The wearable’s future yet unknown but unfolding with the multiplicity of emerging software and hardware options. In virtual reality, the significant players are HTC Vive, PlayStation VR (PSVR), and Oculus Rift.
But other players like Apple, Google, and others may give surprise to the industry with more usability and immersion. Whoever will come head, the center stage of virtual reality will be eased of buying the head-mounted device that can work in any playing field.
In 2019, the market value of virtual reality was at USD 11.52 billion, and by 2025, it expects to touch USD 87.97 billion, and its Compound Annual Growth Rate will be 48.7% over the predicted period 2020-2025.
In the past few years, virtual reality technology has achieved widespread adoption and recognition. Recent advancements in this technological field have unfolded many new initiatives.
Many new players are emerging in this industry with high hopes to navigate the VR towards conventional adoption. The market growth rate expects to rise with the launch of commercial VR headsets.
The plethora of VR solutions with varied capabilities is probable to generate due to the VR technological advancements. It will allow consumers to have full immersion experience. Making a more real VR experience will be the key driver for market penetration and adoption.
In VR, the applications are often found fascinating, with interactive television and movie series or video games. VR is a platform that serves as projecting things that, in other cases, are too expensive, impractical, or dangerous to do.
In the VR display technology field, the technology vendors are investing in creating advancements that will probably change the traditional vision methodology.
The technology giants such as Google are investing considerable budgets in technology startups in VR device development. Along with other prominent players in R&D in this section, the future market of VR is going to be more competitive.
Virtual reality reduces the distance between the physical and digital worlds for consumers by creating a feeling of existing in the virtual environment. HTC, Sony, and several other multinational corporations are also submitting into the VR market space.
For consumers, the most affordable experience in mobile VR to explore virtual reality by spending less amount of money. Also, the increasing number of smartphone users will lead to wide-scale VR adoption.
For content display, the virtual reality headsets depend on the smartphones and other various specially developed applications. For example, a VR app Matterport VR Showcase is compatible with the Samsung Galaxy series, which needs the VR Oculus Gear app to be installed in the device.
Approximately 87% of smartphone-based VR headsets were sold across the world in 2016, which means the mobile phone of the user is mounted on the headset and operates on the screen. Samsung Gear VR and Google Daydream are the most common smartphone VR headsets.
While, as compared to PC-based and console VR, the mobile phone VR experience is less immersive. But its adoption will increase expectedly over the predicted time because it is the host of tech advancements in mobile VR.
With the rise of comparatively reasonable consumer virtual reality gear and headsets, the idea of delivering VR experiences in the arcade settings has taken hold but with a bit of success. The enthusiasm was initially seen mostly centered in China.
The reason is that other immersive entertainment technologies, such as motion simulators and 4D theaters in China, are more established. As the VR popularity was grown, the VR arcades have three different types of entertainment.
The first facility arranges, places for players to enjoy the latest consumer VR facility in a dedicated area. The second type of VR arcade is specialist franchise sites that run the latest VR games based on the dedicated hardware.
The third category is the VR arena scale facility which provides experiences like VR laser tag. Many companies are investing in designing different game designs for arcade and amusement facilities for a long time.
In regions where financial and space limitations make VR unlikely for the market, the VR arcades and amusement facilities are the best way to enjoy VR and create a motivating and surreal experience.
The rising growth trend of VR shows that it is now not just used in the homes, but a new arena for VR is in the making to elicit experiences for people. Equipped with the latest technology, this will be such a fantastic psychological, emotional, and physical entertainment for people that it has become a must for amusement facilities.
Read more: Mordor Intelligent Report on Virtual Reality
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