Virtual reality gaming sales have grown by 50% in 2020, according to a report. Despite the Covid-19 pandemic, the market has experienced an all-time high in revenue and global acceptance of VR gaming is expected to continue until 2027. Factors responsible for the surge include the provision of VR supported games, increasing demand for immersive gaming experiences, technological advancements and increased investment in VR gaming development. The VR gaming industry forecast is that it will grow further towards $45bn by 2027.
Virtual Reality Gaming Sales Skyrocket with 50% Growth in 2020
Introduction
The Virtual Reality Gaming industry has experienced a surge in sales throughout the year 2020. Despite the global pandemic, the VR gaming industry has seen an all-time high in revenue and is expected to increase further in the years to come. According to a recent report, virtual reality gaming sales skyrocketed with an impressive 50% growth in 2020.
Factors Contributing to Virtual Reality Gaming Sales Growth
- Increasing demand for immersive gaming experiences
- Technological advancements
- Availability of VR supported games
- Increased investment in VR gaming development
Virtual reality gaming has gained immense popularity due to the demand for immersive gaming experiences. Gamers seek to indulge themselves in a world where they can interact with the virtual reality environment, making them feel more engaged than ever before.
The advancement of VR technology has played a significant role in driving the growth of the VR gaming industry. The introduction of more advanced VR headsets and gear has also made the VR gaming experience more compelling, making it more accessible to a more extensive audience of gamers.
The availability of VR supported games has made VR gaming more accessible to the general public. A host of popular games, such as Resident Evil 7, No Man’s Sky, and Beat Saber, can now be played with more enhanced virtual reality experiences, attracting more gamers to the VR platform.
Investment in the development of VR gaming technology has been on the rise, which has led to the creation of more immersive, interactive, and realistic virtual reality environments in games. The push for more investment in VR gaming development is expected to contribute to further growth in the coming years.
VR Gaming Sales Statistics in 2020
According to market analyst reports, the global virtual reality gaming market size was valued at over $15 billion in 2019 and is expected to grow by 30.2% from 2020 to 2027. These figures are an indication of the growing acceptance and demand of VR gaming, with increased traction expected to continue until 2027.
Conclusion
The significant growth in VR gaming sales in 2020 is a testament to the increasing popularity of the immersive gaming experience. Statistically, the VR gaming industry is expected to maintain its growth trajectory in the coming years, with forecasts predicting that the industry’s size will exceed $45 billion by 2027. It’s clear that players in the VR market have much to gain as the industry continues to grow.