• About
  • Contact
  • Privacy Policy
  • Terms and Conditions
Tuesday, June 3, 2025
The VR Soldier
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
The VR Soldier
No Result
View All Result

VR Industry is set to Become a $33bn Industry by 2020, Report Claims

Alex Mercer by Alex Mercer
July 30, 2018
in News
Reading Time: 3 mins read
2
TheVRBase Wealth Management Virtual Reality
Share on TwitterShare on Facebook

It is evident the virtual reality industry has come at a major crossroads. Although there are some high expectations, current sales figures do not bode well for the foreseeable future. A new report claims the VR market will grow into a $33bn industry by 2022. Achieving that growth will require major efforts by industry leaders, as well as new ways to improve consumer adoption.

Matching the Predicted VR Market Growth

For all intents and purposes, virtual reality is still a small niche market. Despite advancements on both the hardware and software side of the spectrum, there is still a long way to go prior to consumers flocking to this technology en masse. The rise in popularity of location-based VR, as well as VR arcades, shows there is room for potential growth. A new report by Market Research Engine claims the VR industry will grow into a $33bn industry in the next four years.

According to this report, key industry players will need to step up their efforts accordingly. Despite big developments on the hardware side over the past year, the average price of VR hardware remains relatively steep. Software-wise, there has been an increased focus on bringing more content to VR headsets, including sports and other types of experiences.

Even so, there is still plenty of work to be done. Display latency and power consumption are still two big concerns for consumers looking to enter the VR market. There are also a lot of unanswered questions regarding the impact on users’ health. At the same time, VR sees a big uptake in terms of training exercises, defense imitation programs, and so forth. Finding the right balance to address those issues and improve upon the segments which see major adoption will be a critical challenge.

If the VR industry is set to grow to $33bn, a lot of things will need to fall into place over the coming years. It seems a lot of the VR customer adoption efforts focus on the US and Asia, whereas Europe is still a bit behind. Africa is almost a non-factor in this regard, and that situation will need to be addressed sooner rather than later. The VR industry is far from dead, but there is still a lot of work ahead.

If you liked this article make sure to follow us on twitter @thevrsoldier and subscribe to our newsletter to stay up to date with the latest VR trends and news.

Tags: Virtual RealityVR Industry
Previous Post

Popular VR Game ‘Moss’ is Now Compatible With Windows Mixed Reality Headsets

Next Post

Creator of PlayStation VR, Richard Marks, Officially Joins Google’s Console Division

Related Posts

bitcoin btc
Featured

K33 Begins Bitcoin Buying with 10 BTC Purchase for Treasury Strategy

June 3, 2025
Binance Beats SEC—Crypto Cheers the Legal Victory
News

Binance Beats SEC—Crypto Cheers the Legal Victory

June 2, 2025
Cardano Tanks 50% From Highs—Hope or Hype Ahead
News

Cardano Tanks 50% From Highs—Hope or Hype Ahead

June 1, 2025
Solana Price Prediction:Is the $200 Dream Dead
News

Solana Price Prediction:Is the $200 Dream Dead?

May 31, 2025
Featured

Netflix Casts Leads for FTX Drama

May 30, 2025
Featured

Trump’s Meme Coin Dinner Under Investigation

May 29, 2025

Press Releases

Binance Beats SEC—Crypto Cheers the Legal Victory
News

Binance Beats SEC—Crypto Cheers the Legal Victory

by Alex Mercer
June 2, 2025

Introduction From courtroom drama to crypto karma, Binance is having a moment. The SEC has officially pulled the plug on...

Read more
Bitcoin Gains Ground as Job Market Wobbles—Digital Gold to the Rescue?

Bitcoin Gains Ground as Job Market Wobbles—Digital Gold to the Rescue?

May 25, 2025
Altcoin Season Is Loading—But First, Let Bitcoin Do Its Thing

Altcoin Season Is Loading—But First, Let Bitcoin Do Its Thing

May 23, 2025
Dogecoin’s Ready to Bark Again—Could $0.30 Be the Next Fetch?

Dogecoin Ready to Bark Again—Could $0.30 Be Next

May 20, 2025
Ethereum Climbs While PEPE Reloads—Who's About to Explode

Ethereum Climbs While PEPE Reloads—Who’s About to Explode?

May 18, 2025
The VR Soldier

© 2024 The VR Soldier

Navigate Site

  • About
  • Contact
  • Privacy Policy
  • Terms and Conditions

Follow Us

No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases

© 2024 The VR Soldier