Virtual & Augmented Reality Industry By 2020
The Virtual reality market is really on a fast track pace globally. According to a recent study blown the revenue margins with $99.6 Billion in 2016 and eventually going to be more than $162 Billion by 2020.
Where APAC region is scooping around $47 Billion of total gaming revenue, China itself accounts $24.4 billion this year to cement its place as the largest games market in the world than US anticipated $23.5 billion. However, North America holds the second place with growth rate increase by 4.1% which projects phenomenal monetization in this segment.
Mobile gaming segment is expected to be the major revenue contributing segment, while trending factors like creation and integration of VR and augmented reality in mobile games and gaming consoles potentially fetch high revenue generation by 2020. However, in my daily read, several sources anticipate that personal Screens and smartphones accelerate the growth with a YoY growth rate of 23.7% and by 2018 they will take the lead globally.
Well, pretty much phenomenal that number of VR companies, developers, and investors are increasing at a rapid pace. I recall in 2015 there were 175 VR companies dabbled in the market and the number has grown to almost 800 and likely to be between 900 to 1000 by 2020, In some of my previous reads stated beyond the 1000 mark globally.
Predictably, why does this market may not face dense dark days in the future? I found some contemplating factors which could drive this market very successfully:
- Startups enthusiasts
- Foster innovation/technology
- Huge market size
- Adoption rate/gaming enthusiasts
- Eye zooming for big players
- Tapping Geo’s
VR Movies: VR 3D Graphics for movies are increasingly being used by CGI professionals involved in movie-making, despite a premier movie in Hollywood seemed to be failed, upcoming movie ‘Assassin’s creed’ based on a video game (same title) likely to entertain indulge audience with its VR 3D graphics, in subsequent year VR to become an integral part of special effects in flicks like Sci-fi, Action, Adventures and so on.
VR Gaming: Always been an interesting topic for me. While i am excited and waiting for more catalogs, United States and APAC VR Startups have taken a significant step in developing mobile VR platform based games, changing the face of VR/AR & Mixed Reality.
Gradually, VR is going to emerge in adventure activities in amusement parks or gaming zones fostering new innovation in Roller coaster rides, Drone racing, racing games, so on. source