According to Juniper Research, over 100 million units Virtual Reality (VR) devices, including smartphones and headsets, will access games across the globe by 2023 that is up from 52 million devices in this year. The research, titled Virtual Reality Markets: Innovation, Disruption and Future Prospects 2019-2023, discussed that the growth of Smartphone VR content is indispensable for augmenting user confidence in VR. Juniper asserted that low-cost mobile VR content is required to initially enlist users and persuade them to other VR platform. It also expected that mobile VR will worth over 55 percent of total VR games revenue by 2023.
The report further revealed that overall revenue from VR-specific games are anticipated to reach USD 8.2 billion by 2023, rise from USD 1.2 billion this year. Though, the research also envisaged that over 50 percent of mobile VR games accessed this year will not be monetized owing to the intricacy of deploying ads in VR without hindering the user experience. The Juniper’s research illustrated 2023 as the years wherein VR content revenues, gaining from multimedia, games, gambling, and other categories, will exceed hardware revenues for the first time, and also suggested that VR headset vendors get ready for this progress by enhancing their VR content libraries through app store collaborations.
Senior Analyst with Juniper Research, Sam Barker said that revenues from VR-specific mobile games will go beyond USD 4.6 billion by 2023; however average revenue per mobile VR games user will be lowest across all VR platform. So, app developers are required to ease high app abandonment rates through offering engagement and continually-updated content.