ECONOMICS
MARKETS AND PRICES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the number of smartphone producers entering the VR headset market increases.
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the cost of research and development on VR games increases.
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the cost of producing traditional video games decreases.
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the price of VR headsets increases.
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Detailed explanation-1: -The global virtual reality market size was valued at USD 11.64 billion in 2021 and is projected to grow from USD 16.67 billion in 2022 to USD 227.34 billion by 2029, exhibiting a CAGR of 45.2% during the forecast period. Based on our analysis, the global market exhibited a decline of 42.2% in 2020 as compared to 2019.
Detailed explanation-2: -The global virtual reality (VR) in gaming market size was USD 6.26 billion in 2020 and is projected to grow from USD 7.92 billion in 2021 to USD 53.44 billion in 2028, at a CAGR of 31.4% in the 2021-2028 period.
Detailed explanation-3: -VR requires very high frame rates, and high resolutions to make it look good. Even on the low end, a VR headset might be running at a resolution of 2160x1200 at 90Hz. Higher end headsets are 2880x1600 running at 144 Hz (Well there is 1 at least). On console, most games are running at 1920x1080 at 30 Hz.
Detailed explanation-4: -Virtual and augmented reality devices will be smaller, lighter, and incorporate more features. New accessories such as robotic boots will emerge to further deepen the experience. There will be a huge demand for AR/VR chips. It will go a step beyond haptic gloves as full-body haptic suits.