VR Market Analysis

As an experienced development studio and game publisher, Chicken Waffle has the ability to build and deploy to Steam, Oculus, PlayStation, Viveport, XBox, Nintendo, iTunes, and any additional digital gaming marketplace around the world.

THE MARKET

XR gaming is a multibillion dollar market, and quickly expanding!

Virtual reality is where the internet was 20 years ago – it’s a nascent but high growth market that has the power to change everything.

The number of gamers worldwide is still on the rise and will exceed 3 billion by 2023. The global games market revenue for 2020 was about $159.3 billion, with a +9.3% year-on-year increase.

  • In 2020, there were more than 57 million VR users in the US.
  • The consumer VR market worldwide is predicted to reach $3.7 billion at the end of 2021.
  • Market projections show that worldwide spending is likely to reach $72.8 billion by 2024.
  • Virtual Reality sales statistics show that the number of VR devices shipped worldwide is expected to increase to 68.6 million units in 2023.
  • VR headsets are projected to have massive sales of over 30 million units annually by the end of 2023.
    (Source: Statista + TechJury)

Additionally, the global virtual reality in gaming market size is expected to reach  $92.31 billion by 2027, expanding at a CAGR of 30.2% over the forecast period. The intensifying demand for technologically progressive electronic games amongst millennials is anticipated to drive the market growth from 2020 to 2027.

Long-term growth for AR and VR headsets will be strong throughout the forecast period with shipments growing to  76.7 million units in 2024 – resulting in a CAGR of 81.5%.

The global virtual reality in gaming market size is expected to reach $92.31 billion by 2027, expanding at a CAGR of 48.7% over the forecast period. The intensifying demand for technologically progressive electronic games amongst millennials is anticipated to drive the market growth from 2020 to 2027.

Long-term growth for AR and VR headsets will be strong throughout the forecast period with shipments growing to 76.7 million units in 2024, resulting in a compound annual growth rate (CAGR) of 81.5%.

OUR SOLUTION

Building the future of interactive XR gaming

Our solutions and production tools are set to disrupt the AR and VR markets.

  1. Our roadmap aligns with a vast expansion of new users, and our millions of young fans are the prime demographic of future XR consumers.
  2. Games that appeal to both youth and adult demographics offer a long-term potential for huge profit as the market expands.
  3. Future hardware adoption and market expansion will allow for exponential success of innovative IP, leaving current market leaders behind in adapting to cutting-edge technologies and development paradigms.

Our core systems are some of the best VR production tools and paradigms in the world. We have built some of the most advanced cross-platform interactive experiences, and we are continuously innovating to improve our production pipeline.

Links & Sources