The “VR hype cycle” used to explain the relatively slow rate of adoption for VR refers mostly to the consumer market, and in large part the household-targeted segment, which I believe has suffered the most thanks to the false narratives that I outlined last month. Most of the chips have been bet on high-fidelity immersive content and when it comes to premium experiences, your home just does not serve as the best or most natural setting to clutter up with the necessary equipment and accessories.
The more fitting place is a location-based spaces, like a VR arcade. That’s why location-based VR experiences are currently trending in popularity worldwide while household consumer adoption is not.
According to Greenlight Insights, global location-based VR entertainment will in fact double to $1.2 billion this year and grow to over $8 billion by 2022. VR arcades are the first of the form to pop up, blooming particularly early in Asia thanks to the region’s popular backdrop of internet cafe culture, which serves as the ideal foundation.
Western diets have understandably taken more time adjusting to the return of an arcade model that the market thought had otherwise gone extinct some decades ago. Not only are they quite alive, the pace of adoption is picking up.
“There are now over 100 VR arcades in the United States and they usually follow the same format. There are even more outside the United States, with the latest estimate that there are 4000 worldwide.” says CEO Ryan Burningham of Virtualities, a VR arcade based in Salt Lake City and one of the very first to take root in the US. Read more from venturebeat.com…
thumbnail courtesy of venturebeat.com