• About
  • Contact
  • Privacy Policy
  • Terms and Conditions
The VR Soldier
  • Featured
  • News
  • Education
  • Reviews
  • Press Releases
  • Featured
  • News
  • Education
  • Reviews
  • Press Releases
No Result
View All Result
The VR Soldier

VR Industry to Grow to $26.89bn by 2022, Report Claims

Mark Arguinbaev by Mark Arguinbaev
May 15, 2018
in News
Reading Time: 3 mins read
0
TheVRBase VR Industry Growth 2022
Share on TwitterShare on Facebook

The expectations are still high when it comes to the VR industry. Although virtual reality still hasn’t made the big mainstream impact, things are progressing slowly. Zion market Research claims the VR industry will grow to $26.89bn by 2022. It seems a rather uneventful outlook, although significant growth will occur in the years to come.

The VR Industry is Growing

Back in 2016, the VR industry was valued at $2.02bn. It is not the highest number, especially not when considering which companies are involved in this industry as of right now. Even so, the technology has not made the impact most people had hoped for. It is evident something needs to change in the future, although it remains to be seen if and how that will be enforced exactly. Even so, things are still looking pretty good, according to Zion Market Research.

More specifically, their new report predicts the VR market will grow to a valuation of $26.89bn by 2020. That is a thirteen-fold increase compared to 2016. While some people may consider such a goal to be unrealistic, it is not impossible by any means. The overall appeal of VR is becoming more apparent, even though there is still a lot of room for future improvements in the near future.

According to the research, more devices supporting VR technology is one the main catalysts. Making the technology more accessible to consumers and corporations alike can eventually lead to higher adoption rates. Even so, the overall costs associated with this particular technology remain rather steep as of right now. Until the price comes down – without sacrificing overall features and technological advancements, there will not be any major growth to speak of.

Even so, the report does paint a positive future for VR technology. North America remains the largest market for virtual reality, although Asia is also making its mark. Europe is still behind the curve in this regard, but it seems a massive VR boom is on the horizon at this stage. Most of the companies exploring VR technology are also located in North America as of right now.  The future looks interesting for virtual reality, but nothing has been set in stone just yet.

Header image courtesy of Shutterstock

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

Tags: ResearchVirtual RealityVR Industry
Previous Post

IrisVR Sees Major Success as a Facilitator for Design Experts

Next Post

Arcelor Mittal Uses VR Training to Test Employees’ Fear of Heights

Next Post
TheVRBase Arcelor Mittal VR Training Saving lives

Arcelor Mittal Uses VR Training to Test Employees' Fear of Heights

Web Stories

WLUNA Contract Bridge Spells Trouble for the Terra Luna Community
Top 3 Metaverse Projects to Buy Virtual Real Estate in
Top 3 Pokemon-inspired Metaverse Crypto Coins
Top 5 Metaverse Crypto Coins to Buy in January 2022

Upcoming Crypto Conferences

Jul 29
10:00 am - 3:00 pm

Web3 Delight Lagos

Dec 1
December 1 - December 2

MetaVentures Bangkok

Jan 13
January 13, 2023 - January 15, 2023

World Crypto Conference 2022 for the First Time Held in Zurich, Switzerland

View Calendar

Press Releases

emerging NFT marketplaces
Press Releases

Three Emerging NFT Marketplaces You Do Not Want to Miss: Binance (BNB), Big Eyes (BIG), and Solana (SOL)

by Tony Toreto
July 1, 2022

The impact that NFTs have had on the crypto market is impossible to ignore. From the infamous Beeple NFT that...

Read more
Web3 Delight Lagos – Breaking Barriers to Pave the Way for the Digital Future

Web3 Delight Lagos – Breaking Barriers to Pave the Way for the Digital Future

June 28, 2022
Will Cryptocurrencies Ever Stabilize? The Theory Behind Emerging Markets, With Amazon, Ethereum And BoostX

Will Cryptocurrencies Ever Stabilize? The Theory Behind Emerging Markets, With Amazon, Ethereum And BoostX

June 28, 2022
Buy The Dip Meme: CashFi (CFI), Dogecoin (DOGE) And Floki Inu (FLOKI) Are Three Cryptocurrencies You Want To Consider Before Your Next Investment

Buy The Dip Meme: CashFi (CFI), Dogecoin (DOGE) And Floki Inu (FLOKI) Are Three Cryptocurrencies You Want To Consider Before Your Next Investment

June 17, 2022
Mushe (XMU), Basic Attention Token (BAT) and Curve DAO Token (CRV) Can Be New Sources of Income

Mushe (XMU), Basic Attention Token (BAT) and Curve DAO Token (CRV) Can Be New Sources of Income

June 17, 2022
  • About
  • Contact
  • Privacy Policy
  • Terms and Conditions

© 2022 The VR Soldier

No Result
View All Result
  • Featured
  • News
  • Education
  • Reviews
  • Press Releases

© 2022 The VR Soldier

WLUNA Contract Bridge Spells Trouble for the Terra Luna Community Top 3 Metaverse Projects to Buy Virtual Real Estate in Top 3 Pokemon-inspired Metaverse Crypto Coins Top 5 Metaverse Crypto Coins to Buy in January 2022