Games Industry Biz reports: “Annual revenues for VR gaming are set to hit $1.8 billion by the end of the year, according to data from Newzoo’s VR Games Market Report 2022. The market is predicted to more than double to $3.2 million by 2024, hitting $2.5 billion in 2023. For comparison, revenues in 2021 reached $1.4 billion. Newzoo also said that the VR install base is growing faster than ever; it’ll hit 27.7 billion users by the end of 2022, and is forecast to reach 46 million by the end of 2024. The firm cites the increase in standalone VR headsets as one of the main reasons for growth, as devices such as the Meta Quest can be set up and used without the need for additional hardware.”
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