Global VR Gaming Marketing Forecast Through 2022

Global VR Gaming Marketing Forecast Through 2022

One of the biggest concerns of both on-site and mobile gamers is the emergence of virtual reality (VR). It is becoming a player in the gaming world, both in gambling itself and in eSports. There is also the concern that virtual reality will create sports betting opportunities. Industry experts expect the VR gaming market to grow to 54 percent by 2022. They also predict it will reach a value of $27 billion by the end of that year. However, many marketers are still unsure of the impact VR will have on gaming in general.

What is VR?

What is VR?The idea of virtual reality is it creates an environment that is artificially constructed for the players of its games. It is a computer technology that can project physical spaces and multiple environments for players to experience. A person uses a headset to participate in a virtual reality situation. VR can also create a holographic image that will represent the gamer in the virtual world, which can be real or imaginary.

Virtual reality has other applications as well. Both scientists and medical researchers have used virtual reality to explore parts of the human body. It has been used in chemistry and physics as well. Scientists have also used virtual reality to compose scenarios or re-enactments of events, such as terrorist attacks or plane crashes. It is safe to say that VR is an important tool in science.

A Growing Technology

Many mobile phones, smartphones, and tablets are now being manufactured with chips that allow the devices to use virtual reality. VR has been used in the workplace to increase the productivity of workflow and workplace operations. With the new technology comes issues, however. The growth of the equipment and applications has limited the users’ interactions with virtual reality. This, in turn, has affected the growth of the market. However, the technology has begun to meet the demand of the consumers for something new and different. As more and more gamers connect to the market, the global market should soar as well.

The global market for VR has been segmented. The use of technology, how much an area will offer, and how many applications are available has divided it. Technology for VR ranges from no immersion to semi-immersion and full immersion. There are also different types of VR hardware. You can use VR glasses or VR masks.

Impact on Gambling

VR Gambling

The largest market for virtual reality has been in North America, including for gaming. Gamers are looking at virtual reality as a platform to launch virtual poker and table games. They also want to see virtual slot machines with updated music and graphics. Virtual poker is on the leading edge of casino games. Many developers are looking at 3-D poker tournament content in a virtual reality world. The future for poker appears to be in-game betting on the players and those who are playing in the game.

In addition, the eSports market appears to be the wave of the future as far as sports betting goes. eSports are competitive video games played by teams. Usually, they are war games, such as Halo or Warcraft. Teams of three or four can play them. eSports have become extremely popular. Stadiums sell out during major tournaments. States that have legalized sports gaming are also considering allowing eSports gaming before and during the games.

In addition to North America, there is a market for eSports and VR in-game betting in Asia, specifically in India, China, and Japan. The largest market for VR gaming and in-game betting right now is in China. The country prohibits online gaming. But, people are still using VR to play and gamble. It appears VR in gaming is here to stay.

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Thomas McCoy was born in Bethesda, Maryland and studied finance at the Kogod School of Business at American University in Washington D.C. before heading to New York and a job as a forex trader on Wall Street. Successful enough to launch his own, online forex trading platform, Thomas has long had a keen interest in the places where the worlds of finance and technology meet. As a prolific blogger, Thomas considers himself an expert on cryptocurrencies, casino asset restructuring, and emerging technologies set to change the way people do business.