VR Gaming Has Failed to Pick Up Despite Heavy Investments from Meta and Sony

It’s been about a decade since Facebook acquired Oculus, and the company was intending to lean even more heavily on its VR headset subsidiary after changing its name to Meta. VR Headsets are meant to be a part of the metaverse, but initially Meta will be focusing on introducing VR games that could be the next big trend in the gaming world with all things having been considered and taken into account.

In spite of the fact that this is the case, it really doesn’t seem like VR gaming is picking up much steam. Meta isn’t the only one that is investing pretty heavily in the industry either. Sony is yet another multinational giant that is attempting to use VR to bolster their sales, but with all of that having been said and now out of the way it is important to note that their combined efforts have failed to even make a dent in the world of gaming.

Video games currently have a user penetration rate of 45%, but VR headsets are only being purchased by a miniscule 1% of customers. What’s more, the rate of growth for this industry is not looking too good either. VR headsets are predicted to reach a paltry 1.7% market penetration by 2027. By comparison, video games are expected to reach a whopping 51% of market penetration which will make VR even more irrelevant than might have been the case otherwise.

This makes it seem like VR gaming and the use of VR headsets in general will remain a niche segment of the market. If this happens to be true, it could create seismic changes in the tech world. Meta will suffer greatly because of the fact that this is the sort of thing that could potentially end up bankrupting the country in the long run. Sony might escape relatively unscathed, but chances are they will never focus on VR ever again.

Companies often try out bold new products, but few bank as heavily on them as Meta has. This could be the straw that breaks the camel’s back.

Source: Statista
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by Zia Muhammad via Digital Information World