LogInThe revenues are also set to more than double from $1.4 billion generated in 2021 reaching $3.2 billion in 2024.
A new report from analytics firm Newzoo reveals that revenues from VR games are projected to reach $1.8 billion by the end of 2022. The revenues are also set to more than double from $1.4 billion generated in 2021 reaching $3.2 billion in 2024.
According to the firm's analysts, the increased spending on VR games is driven by a growing number of active VR headset users. Newzoo estimates that 20.2 million people used VR headsets in 2021. By the end of this year, this figure is set to reach 27.7 million, and in 2024, the number of VR headset users will grow to 46 million.
The analysts believe that the increase in standalone VR headsets such as Meta Quest 2 and Pico Neo 3 will be the main driver of VR adoption due to their affordability and easy set-up.
Newzoo report also reads that gaming is the top use case for VR headset owners – 72% of people who have VR headsets use them for playing games. 63% of respondents said that they use their headsets for watching videos of movies. 54% also use their VR devices for attending various virtual events.
As for the audience of VR headset owners, the majority of them are male users (63%). VR headsets are more popular among young people between 21 and 35 years old – this age group represents 43% of all VR headset owners. It is followed by the age group between 36 and 50 years old (32%). The smallest share of VR headset owners are people from 14 to 20 years old (25%). Quite expectedly, the majority of VR headset owners are people who estimate their income as high (43%).
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