The Growing Opportunity in VR Arcades
The rise of console gaming has marked our best memories of gaming forever. Owning one in your own living room or bedrooms while playing with friends, are part of our memories growing up but video games are more fun if there are tons more people to play with. Luckily, arcades were rampant back then.
There were thousands of arcades from the 80’s and were growing until the early 2000’s. Unfortunately, everything will not remain at the top, the arcade industry was cut to half in the 10’s according to BACTA.
Luckily, the next generation of gaming is also having a comeback in the highstreets. VR arcades are the new hip in town, and it is just not around town but around the world. It is predicted that the industry will reach a whopping $45 billion in revenue by 2025, according to experts at Grand View Research. Entrepreneurs are now setting up VR arcades worldwide.
The growth in the arcade industry lies within the cost of owning a VR headgear and the leg room that VR needs when playing. It is also unlikely that players like you have two systems at home were you and your bud can play at the same time. With those issues in mind causes VR arcades to be a growing industry and gamers don’t mind that at all.
Entrepreneurs are seeing the opportunity in VR arcades as there are gaming hubs in South Korea where a group of friends will go, eat, play and then socialize. Arcades give the best social interactions gamers crave for.
HTC also opened a VR arcade in Taipei called Viveland. Visitors are mostly male aged 18 to 30 years old. Showcasing the wonders of virtual reality to people of Taiwan. The arcades popular game so far is a first-person shooter or FPS called Front Defense and balancing game called Plank Experience.
And nothing is more Flourished in the gaming industry other than an economic giant, China. With an estimate of 3,000 VR arcades, they are growing bigger and bigger. A good number of arcades has also been popping out every month across the world.
With the increase for demand in VR arcades in Asia is growing, the demand in the other side of the world has also attracted business investors. Startup-arcades like VRstudios in Washington, raised over $4 million to grow their arcade business. Even DreamWorks VR startup called Space Inc., has raised over $9 million all according to CrunchBase.
That attraction also leads into a Virtual World Arcade Conference that teaches the industry leaders about hardware, the products and how it all fits in with venture capitalism. This event is held 3 days every year and now in its fourth year.
But the most prominent players in the VR arcade industry, IMAX VR and the Void are not backing down with new competitors. With IMAX VR earning over $15,000 weekly on their LA location alone. IMAX VR has showrooms in NYC as well.
VR adoption around homes might not be a lot compared to other consoles out there. But VR arcades offer this opportunity to users who wanted to experience VR. As most first timers will experience their virtual reality in an arcade rather than one at home.
VR arcades are the front liners in the mass consumption of this amazing technology. While the popular arcades might be the one with dozens of articles written for them, it is the local VR arcades that help the industry to grow bigger in terms of revenue and helps people who couldn’t afford a VR headset to experience the high-tech masterpiece.
Every arcade has different experiences to offer to its players. Whatever you may choose to go at, the industry will only be bigger and better offering VR enthusiast a better opportunity to experience, first-hand the possibilities of VR. With this growth, it is a win-win situation for both business owners and enthusiast alike.
But one thing is for sure. Parents are more amused at bringing their kids to the arcade than just letting them of playing their own console games at home. In VR arcades kids can learn how to socialize with other kids even if they’re on headsets and tries to explore an unknown world. Plus, they get to exercise their body and eventually tire out.
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