Immersive VR Technology: Trends and Industry Dynamics

Experts rarely doubt the entertainment value of virtual reality technology. The current size of the market for global location-based VR games and apps is estimated at $3.97 billion by Persistence Market Research. It is expected to reach an impressive $20.47 billion by 2032. According to Statista, the global VR industry, including VR games, will grow to over $18 billion by the end of this year.

The most straightforward application for the technology is immersive VR games. However, other domains can also be enhanced with VR games and apps to elevate the experience of end users to the next level. Education, cultural tourism, and recreation are strong priorities for the VR industry.

Examining some of the most intriguing cases in our sector allows us to identify key trends and peek into the future of the VR industry.

Virtual reality is capable of altering the way we engage in educational activities. Edge VR Arcade is opening a new location in Appleton. While it is primarily focused on providing on-location entertainment in the form of VR games, Edge Summer Camps are positioned as a way for local high-school students to learn in a virtual interactive environment.

Summer Camps are strongly focused on two educational programs powered by VR technologies:

• Oceanology is an exciting subject if one can experience it through a POV of a diver. Students will explore unique oceanic biomes, study ecosystems, and discover marine life in all its glory while engaging in VR games.
• Astronomy is a natural fit for VR games. Exploring the depths of the cosmos while holding stars in their palms is a memorable experience that may encourage students to focus on science and maybe even become VR developers.

The interactivity coupled with an immersive experience of free-roam virtual reality spaces can be extremely impactful in education. Edge VR Arcade is picking up on a rapidly expanding virtual reality education market fueled by the unending enthusiasm of VR developers. According to Fortune Business Insights, this sector of the VR industry is expected to grow to over $ 65.5 billion by 2032 at a CAGR of 18.2%.

Among other VR news, Royal Caribbean is experimenting with a new form of onboard entertainment, namely, the improved Sky Pad VR games exhibit designed to significantly increase the enjoyment of using the upper deck trampoline of the Spectrum of the Seas. This massive cruise ship has a variety of ways to entertain guests but the trampoline with VR games has been one of the most popular attractions since its original installation.

The virtual reality experience is not something that Royal Caribbean has never done before. In older VR news, The Sky Pad was discontinued in 2023 with operations ceasing on four ships:

• Independence of the Seas.
• Mariner of the Seas.
• Odyssey of the Seas.

The last to carry this attraction was Spectrum of the Seas. The same cruise liner will be inviting guests to check out an improved version of the attraction in 2025. The new virtual expedition is called Adventure in Space & Underseas and features several VR games.
People who want to immerse themselves in exciting virtual environments emulating the endless proliferation of space or the vibrant ecosystems of coral reefs will be able to do so by putting on VR goggles and earcups. Various VR games are available to children older than 6 years old.

Spectrum of the Seas carries a wide range of onboard entertainment options for over 4,900 guests. VR games are among the most innovative. According to the Royal Caribbean blog, the company plans to experiment with various forms of virtual reality content including films, sci-fi-themed episodes, and more.

Immersive free-roam virtual reality entertainment is excellent for a variety of activities including cultural tourism and exploration. Several museums are offering such options to their visitors, some even have VR games. Note that virtual tourism and remote exploration of cultural landmarks is a growing industry with a market size estimated at $8.05 billion in 2024, according to Grand View Research.
Here are some other numbers from VR News to crunch:

• The Paris Musee d’Orsay made VR news by having 18 thousands of visitors checking out their virtual reality impressionist experience.
• According to the University of Glasgow, up to 77% of VR users wanted to explore cultural heritable collections via virtual reality.
• Vienna Hofburg reported that it was visited by over 25 million guests who engaged with its exhibitions and digital products created by VR developers.

The growing interest in the exploration of culture and history powered by VR technologies indicates that the VR industry has room for expansion in this particular field. A recently announced project demonstrates how businesses focused on VR games and apps can capitalize on this trend.

Titanic: Echoes of the Past is an immersive experience right in the middle of Camden Town, London. Visitors of the attraction featuring VR technologies can explore the historic cruise ship before its tragic demise and even experience the crash together with other visitors.

The programming includes several activities:

• Exploring the wreck of the Titanic at a depth of 3,800 meters recreated by talented VR developers.
• Wandering through the authentic interior of the ship, which is virtually restored by 3D artists.
• Take a short tour with exhibits from the legendary ship.

Another notable attraction here is watching several tragic stories play out just like they did on the Titanic. These narratives are based on true stories told by the main heroes, Ida Straus, onlookers of the musicians who played on the upper deck during the evacuation, and the Ransom family.

Such attractions powered by VR technologies were impossible to even conceptualize just a couple of decades ago. Today, it already looks like something trivial to many visitors. Despite the familiarity of technology, it is not used too widely. It means that audiences are still hungry for more immersive and authentic experiences like the ones offered by VR developers.

Visitors do not act as static bystanders. Interactive digital boards and hands-on experiences are also included in the package, turning all visitations into engaging VR games with a touching story.

Virtual museums can be accessed from home. Some experiences are distributed via the Steam platform. Notable examples include the Museum of Other Realities and the Versailles VR. These are some of the most famous virtual tours available to owners of home VR games and apps.

Location-based entertainment is still primarily concerned with gaming. The aforementioned Edge VR Arcade Summer Camp is still just a promotional campaign aimed at high school students. The main revenue source is providing entertainment in the form of team VR games, adventures, and arcade games.

The good VR news is that the growth of the B2C sector is impressively consistent. Revenues from various forms of VR games and apps are expected to reach $ 5.92 billion by 2028, according to Statista. The growth in the B2B sector is harder to estimate. Nonetheless, one of the telling statistics is the volume of B2B VR industry equipment shipments in Japan (one of the biggest markets and destinations for VR developers) which is expected to reach 59 thousand by the end of 2027.

The overall increase in consumption of VR technologies and 3D content across the B2C and B2B sectors indicates a growing interest from audiences in novel experiences. Education and cultural tourism are some of the most promising directions for the VR industry in the foreseeable future.

Industries that typically rely on visual presentation seem to be among the most responsive to the expansion of VR technologies. The analysis of the VR news stories shows us the growing interest from all sorts of audiences across the globe in various augmented experiences. Businesses are responding to the demand by creating them.

The value of educational projects is immense. As demonstrated by the Edge VR games case, even projects designed for entertainment and recreation can be used for educational purposes with the right approach from business owners.

Museums and cultural tourism businesses are also in a unique position to capitalize on a trend that seems to be slow and steady. It is entirely possible for many location-based entertainment facilities to miss out on the opportunity to become the first movers in their regions.

Staying informed about the latest trends in the VR industry is incredibly important for business owners who want to stay ahead of the curve. We strongly encourage our users to keep track of the sector and its dynamics.