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Virtual Reality: The Rising Trend Of Today Today, when it comes to gaming and simulation, virtual reality is the new and rising trend. Both technology and arcade enthusiast are now beginning to see that virtual reality is rapidly taking its place in the gaming and simulation industry and this is very noticeable with the rise of a lot of virtual reality companies along with their consulting counterparts like fintech industry. The only question left in our minds is whether virtual reality could keep its place in the gaming market and how does it affect the gaming market itself. A recent study about virtual reality has been conducted by a market intelligence company recently and have returned a result that reflects a $466.6 million worth for virtual reality tech in the market. This computed worth is anticipated to reach $5.8 billion in the next two years. This huge potential in the market is the very reason why a lot of companies including digital transformation consulting companies are jumping into the virtual reality market. Nowadays, almost every tech developer even the biggest names in the market are releasing their very own virtual reality games, a sign of the immensely growing potential of virtual reality in the tech market. Although this growth is quite impressive, it is yet to be seen if virtual reality could stay in the market for long, or will it become just another passing trend in the tech market.
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On the other hand, the constantly growing virtual reality technologies like the motion trackers and 3-dimensional effects is what makes virtual reality rise above the competition. Aside from that, the increase in income provides more and more people the capability to give virtual reality a try. However, there is an expected downside in the virtual reality market as most of the leading manufacturers of virtual reality gaming and simulation are releasing costly VR products in pursuit of sophisticated consumers which in return harms its growth in the market.
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Virtual reality market is rapidly spreading in the market nowadays and its known to be widely spread over the continent of Europe as well as the northern part of the US and has an estimated 69% revenue shares growth on both. On the other hand, the Asian continents is viewed as the highest potential market in virtual reality due to the presence of one of one of the leading tech manufacturer and the growing involvement of people in online gaming. These stated reports shows that virtual reality indeed has a very huge potential in the technology market on both consumers and manufacturers alike. However, the two factors that can greatly affect that growth of virtual reality in the market is still the cost of each released virtual reality products and its availability to consumers. At this point of time, consumers will not be expected to spend more than their usual gaming expenditures over a game that does not offer a far better feature than what is currently in trend. Even if there are several virtual reality games already released, consumers should not expect much when it comes to overall gaming improvements in the future.