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Income From VR Games To Cross $8.2 Billion Flourishing The Global Virtual Reality Market

Posted on: Feb-2019 | By: MarketNReports | Automobile

 A new research has discovered that income from VR (virtual reality) specific games will cross $8.2 Billion (almost €7.2 Billion) by end of 2023 as compared to this year’s $1.2 Billion. This is sure to boost the global virtual reality market in the years to come.

On the other hand, the development of handset content is essential to elevate consumer confidence all over the platforms in VR, the research claimed. The study further noted that 2018 was a disappointing year for the market. It claimed that low-cost mobile content might be required to engage consumers, and a gainful content market would be required to maintain hardware sales all over the platforms.

The report claimed that over 100 Million mobile VR gadgets such as standalone headsets and smartphone might access games all over the world by end of 2023. That is almost 2 times the level of 52 Million devices anticipated in 2019. Mobile VR is expected to add up for over 50% of total income by end of 2023.

“Income from mobile games that are VR-specific will surpass $4.6 Billion by end of 2023. On the other hand, average income for every mobile VR games consumer will be the least for all VR platforms,” claimed industry experts. “Additionally, app developers might reduce high app abandonment rates by offering continually-updated and engaging content.”

Monetizing games with the help of advertising is hard in mobile VR apps; the study expects that over 50% of mobile VR games examined in 2019 will not be monetized owing to the complexity of implementing ads without impacting user experience. Rather, in-app buyouts are most expected way to overcome the shortfall.

In the end, the global VR market seems to be profiting and will carryon to do the same in the years to come, due to rising tech advancements.