According to a research conducted by Emergen Research the VR headsets segment is expected to dominate other device segments in terms of revenue share over the forecast period attributable to rapid adoption of VR headsets due to rising demand for immersive gaming experiences, technological advancements in AR and VR devices, rising popularity of VR gaming, and rapid launch of advanced VR headsets.
Metaverse is a virtual universe that combines digital technologies such as VR, AR, and other technologies such video-conferencing, cryptocurrencies, games, social media, and live-streaming. Metaverse in gaming allows users to engaged in immersive virtual reality and increasing number of companies are focusing on developing digitally immersive platforms to offer enhanced gaming experiences to users. Increasing popularity of play-to-earn games, rapid advancements in AR, VR, and XR technologies, and rising user base in the gaming sector are some key factors expected to drive market revenue growth over the forecast period. Increasing adoption of VR headsets and other hands-free technologies, increasing development of play-to-earn gaming platforms in the metaverse, and rapidly rising investment in metaverse gaming platforms are other factors that can contribute to revenue growth of the market going ahead.
Non-fungible tokens (NFTs) segment is expected to register rapid revenue CAGR over the forecast period attributable to use of NFTs to purchase in-game assets, carry out secure property transactions, and facilitate efficient identity, social, and community experiences in the metaverse. NFTs are secured via blockchain technology and enables users to participate in financial in-game economies in the metaverse.