The AR and VR gaming market has gained more and more attention in the recent years. Most game developers are focusing on projects applying these technologies. So how AR and VR have changed the gaming industry? Let’s look at the following data to find out.
People’s awareness of VR technology is continuously growing, especially when the community has received, “on hand”, a real application of VR - VR glasses. From an inconveniently expensive device to what we get today at started price of $10, virtual reality application has changed gradually throughout the time, followed by the increasing demand for the devices. From a report made by BI Intelligence, we can truly see the potential of this technology.
Global VR Head-mounted Display Shipments from 2014 to 2020
According to the data, the number of global VR Head-mounted Display (HMD) shipment has increased from 2014 till now and is expected to grow 99% by 2020, proving tremendous development potential.
The number of AR headset and VR headsets shipment in compared from 2016 to 2021
Augmented Reality is expected to have 1 billion users by 2020. At the moment, Anglist has recorded more than 543 startups listed under this category.
Markets and Markets also expect the AR market to reach $61.39 billion USD in 2023 as it was valued at 2.39 billion USD. Therefore, developers are looking for a growth at a 55.71% CAGR (Compound Annual Growth Rate) during the forecast period.
The worldwide shipment of smart AR glasses forecasted to reach around 5.4 million units by 2020. The shipment could hit 64.8 million units together with other devices.
Results of the same survey reveal that 60% to 70% of consumers benefit in using AR and IoT devices in their daily life and work. In daily life, 69% believed that the tech could help them learn new skills, 62% saw shopping benefits, and 62% saw healthcare benefits.
VR and AR in market flows
Although it is generally believed that VR and AR are developed in parallel, AR is more likely to dominate the market in the near future with its dramatic growth. The belief is based on the wide usage of smartphones, which are by themselves able to recognize external environment through camera without the need of additional devices.
Augmented Reality Market by Sector - 2020
According to Infoholic Research, the Top 3 sector that would accounted for the largest proportion in AR Gaming Market are AR Games, AR Hardware, and AR Film, in which leaded by AR Game with 33.33% . The data shows that the technology has gained a lot of attention from users resulting in interest from manufacturers. The research from Infoholic Research also points out that the “AR Gaming Market” is expected to reach $284.93 billion in 2023, growing at a CAGR of 152.7% during the forecast period 2017–2023. Pokemon Go has been downloaded more than 750 million times and its estimated revenue is more than $1.2 billion.
It is undeniable that the development of AR brings great benefit for gaming industry. The technology has opened up a whole new aspects, a new Era of Digital, starting with a new form of entertainment. The practical data also shows a bright future for the new technology, or in other words, good investment opportunities for game developers.