The global virtual reality (VR) in gaming industry size was USD 6.26 billion in 2020.The market is projected to grow from USD 7.92 billion in 2021 to USD 53.44 billion in 2028 at a CAGR of 31.4% in the 2021-2028 period. The rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.
The first-ever virtual reality head-mounted display (HMD) was developed by a scientist who goes by the name of Ivan Sutherland. Establishing himself as a prominent figure in the history of graphic development, Sutherland had made some incredible discoveries in his time, including the famous ‘Sketchpad’ software. This HMD was connected to a stereoscopic display on a computer, where-in the software was used in tandem with the device to generate simple virtual wireframes. Sutherland’s latest device was a significant moment in the history of virtual reality. Today, there are hundreds of virtual reality in the market, each of which is integrated with advanced embedded technologies.
From Dreams to ‘Virtual Reality’
The advancements in embedded systems in recent years have been exceptional. Integration of technologies such as the internet of things (IoT), artificial intelligence (AI), and a few other real-time integrated concepts have paved the way for several innovations. The trends of integrating mobile with external devices have been growing in the recent decade. Among these technologies, virtual reality has emerged as one of the most sought after concepts. It has been widely used in video streaming, gaming, and other forms of entertainment. Audio-integration has provided a major push towards the rise of virtual reality.
Virtual reality has evolved significantly in the recent past. Watching videos and pictures on a normal screen is now a thing of the past. Virtual reality helps create a real-time environment with the help of depth sensors, 3-dimensional audio, and other motion sensors. Due to exceptional properties, virtual reality has witnessed strong demand in the coming years.
Google’s VR Cardboard: A Major Highlight in the Industry
In 2014, Google made the VR cardboard available for commercial sale for the first time. The involvement of major companies has taken VR up a notch. Although companies like HTC, Samsung, and Sony have already made their names heard through their respective patents. Oculus is another tech giant who has made fortunes through its VR products. However, Google has taken VRs to a whole new level with its attractive range of VR cardboards. By pairing with a compatible smartphone, Google VR cardboard lets you experience a real-time environment, without actually being in or near the same ecosystem.
‘Smart Gestures’ Have Unfolded a Whole New Gaming Ecosystem
Motion sensors have allowed VR applications across several industries. From offline gaming to real-time online gaming, VR is gradually taking over the gaming industry. The use of smart gestures has gained massive popularity among users worldwide. Companies such as Oculus and Samsung have launched their respective VR gaming platforms. Gesture control has enabled real-time online gaming platforms, wherein the user was able to control actions through actual body motions. Besides gaming, Samsung is providing its smartphone users a VR integrated user interfaces that allow a smartphone gesture interface. Such exceptional advancements will add to the popularity of VR in the coming years.
The advancements in virtual reality in the past year has been incredible. 2020 looks like the year that will answer the promises made in the early 90s. Pioneered by companies such as Samsung, Oculus, and Sony, virtual reality is set to witness further advancements. The rapidly increasing popularity of VR products will attract further riches. Several investors are eyeing the virtual reality industry for the coming years. Through fast-paced advancements and hefty investment, VR is set to take over the entertainment industry. We can expect more smartphones to be integrated with gesture-based virtual reality control in the coming years.