The location-based virtual reality (VR) market is projected to experience significant growth between 2022 and 2027, with a potential difference of USD 7.67 billion. This growth can be attributed to the increasing popularity of 360-degree content, which enhances the viewer’s experience by providing an all-around view of the scene. Advancements in VR, as well as 3D, 4D, and 5D technologies, have fueled the launch of location-based VR solutions in the entertainment sector.
The VR arcades segment is expected to contribute significantly to the growth of the location-based VR market during the forecast period. VR arcades enhance the user’s physical presence in a virtual environment, leading to the launch of VR-based arcade games in recent years. For example, Sandbox VR launched two arcade games, Deadwood Valley and Deadwood Mansion, in Germany in October 2022. The acquisition of Springboard VR by Vertigo Games in 2021 also contributed to the growth of the VR arcade segment. Motorcycle Vr
The Asia-Pacific (APAC) region is projected to be a major contributor to the global market, accounting for 45% of the growth during the forecast period. The region’s growing market can be attributed to factors such as increasing investments in VR technology and the presence of major players in the market.
However, the requirement for high-speed internet and computation power poses a challenge to the growth of the location-based VR market. To overcome this challenge, advancements in internet infrastructure and computational capabilities are necessary.
Overall, the location-based VR market is poised for significant growth in the coming years, driven by advancements in technology and increasing demand for immersive entertainment experiences.
Vr Skiing Game Sources: – Technavio’s Market Research Report: Global Location-based Virtual Reality (VR) Market 2023-2027 – Technavio