A Guide about the Growth Expectations of VR in 2020 and Beyond

virtual reality guide 2020
20Jan, 2020

Virtual Reality (VR) is banging on the door of becoming dominant and 2020 could be the year that it goes through that door. The technology will grow steadily in 2020. We can expect a promising future for VR in 2020 as Playstation VR will continue to provide a way for console gamers to engross themselves while Oculus covers mobile and PC-powered VR through the Oculus Quest and Oculus Rift S. The release of Half-Life: Alyx is a key advancement to PCVR that requires a flagship title to be noticeable to more people. There are also rumors about a sequel to the PSVR, additional functionality to the Oculus Quest, and the growing liberty of VR games.

There are several companies that will continue to develop engaging technologies. Even Facebook has announced several upgrades for its Oculus Quest, which could shape the future and potential for growth of Virtual Reality.

Evolution of VR in 2019

Before we learn about Virtual Reality in 2020, let’s look at how did VR evolved in 2019. Well, in the year 2019, a lot of companies released new VR headsets that were designed either as upgrades on existing models, or brand-new debuts from new companies. 2019 was undoubtedly a year of progress, new releases, and innovations in the VR industry.

The release of Oculus Quest and Rift S was the biggest achievement in VR. Both the headsets released at the same time, however, the Oculus Quest grabbed more popularity. This standalone VR headset could be used anywhere without the use of an external high powered PC, thereby lowered the difficulty of accessing for anyone who wanted to try the technology out. Several other companies also experienced an increase in sales with VR technology. Combined with the affordable price and fantastic games, there has been a significant boost in sales for the VR ecosystem. Besides the headsets, the Valve Index was released with knuckle controllers, adding more reliability with how users can control their environments. Furthermore, VIVE Cosmos also released, while offering an alternative to the HTC VIVE.

VR Upgrades in 2020 and Beyond

In the year 2020, though it is unlikely that another headset in the above mentioned category would be released so soon as Facebook, HTC, and Valve all have already released new headsets. However, we can expect upgrades in the existing headsets. For instance, Facebook has announced that hand tracking would be coming to the Oculus Quest in 2020. It has also announced Oculus Link, a technique to connect the Oculus Quest to the PC so it can play Rift experiences. All these massive developments will surely shape the future of VR in 2020 and beyond.

Apart from these upgrades, many companies are planning to release a different kind of VR headset. Whilst HTC released the VIVE Cosmos in 2019 for the PC platform, the standalone VIVE Focus might be ready for an upgrade. Since the VIVE Focus is the portable and less powerful equivalent of the VIVE Cosmos, the company may consider updating the hardware without cannibalizing the PC market. Moreover, HTC might also reduce the costs in order to compete with the Oculus Quest. We can also expect the arrival of the next PlayStation VR soon.

Key Facts Related to Development of VR Market

Below mentioned are some of the key facts associated with the development of the VR market in 2020 and beyond, have a look:

• The global VR gaming market size is expected to be worth 22.9 billion by the end of 2020
• A report by MarketWatch suggests that the global virtual reality market will be worth $117 billion by 2022.
• The number of installed virtual reality headsets is estimated to grow to 37 million by 2020.
• The projected economic impact of VR/AR technology may amount to $15.6 billion.
• VR arcades are slowly becoming an important part of the gaming industry. (Source: Viar 360)
• The gaming market accounts for 50% of total VR Software sales. (Source: 3D Insider)
70% of people who already own a dedicated VR headset have bought a game for it.
90% of people in the US and UK are aware of VR, and 65% are aware of AR.
45% of people in the high-consequence industry consider VR training as highly important.
51% of Generation X-ers and 45% of Baby Boomers want more travel-based VRs.
• VR-related job openings in the gaming industry increase by 93%.

Virtual Reality Trends to look forward in 2020

Here are the key trends related to Virtual Reality to look forward in 2020 and beyond-

1. Virtual Reality will continue to increase our digital horizons

With the introduction of Oculus, Facebook is investing greatly in virtual reality technology. With the availability of assorted virtual reality headsets and an increasing collection of quality entertainment, more and more non-gaming consumers are expected to have their own headset. Additionally, various exciting announcements by Facebook have been made including the introduction of hand-tracking, new social VR experiences with Facebook Horizon, and enhanced headset performance with the Oculus link.

2. VR will play a key role in training and education

In 2020 and beyond, virtual reality tools are expected to experience augmented growth in the training and education field. Various educational institutes are expected to make huge investments by adopting this technology to bring lessons to life through the power of virtual reality. With the implementation of virtual reality in classrooms, students will gain a clearer understanding of spatial structures, language associations, and lesson content. Similarly, virtual reality will be playing a key role in the corporate environment. Nowadays, many fortune companies are adopting VR technology in their training programs and workforce education system. This will help employees to get engaged in training scenarios to improve customer service and compliance from their store.

3. There will be a rise in demand for diverse and high quality VR entertainment

Apart from just gaming, virtual reality will continue to spread other forms of entertainment. For instance, the apps like MElodyVR are making the VR technology far more accessible for consumer entertainment by bringing the user’s favorite live performances to their home and offering them the opportunity to experience the performance at the comfort of their home without the need to spend huge amount on tickets. NextVR, on the other hand, gives consumers the chance to experience events from FOX Sports, the WWE, and the NBA all on-demand. Some platforms are even offering their consumers the ability to change perspective to enjoy the best view of the action. In the filmmaking sector as well, VR is gaining a lot of popularity by introducing new filmmaking techniques and incorporate other senses like touch and smell.

Conclusion:

Looking at the potential for growth in the VR sector, it is expected that the VR industry will develop steadily over the short-term. Many companies are already doing a great job of improving their services using VR technology. On the whole, 2020 and coming years will likely to be an evolution phase for VR technology.

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