Location-based virtual reality (VR) centers are emerging in many cities around the world, allowing people to see the impact of this cutting-edge vr technology, which is gradually changing people's entertainment. Companies such as The VOID provide users with an immersive theme park virtual reality experience. A recent report from Futuresource Consulting predicts that location-based virtual reality services will continue to grow and will reach $809 million by 2022.
The report predicts that consumers will begin to accept location-based VR social networking and experience high-end VR in the VR experience center.
The first quarter of 2018 saw significant growth and increased consumer spending. The four types of LBVR that are expected to cost $299 million in 2018 will be classified as malls, multiplayer experiences, VR cinemas and VR theme parks. Among all four categories, VRcades has the fastest growth rate. In 2017, this type of consumer spending was estimated at US$79 million, accounting for 40% of all LBVR revenues.
Of the four categories, VRCades has the largest number of locations, with an estimated 4,000 globally, with China accounting for the vast majority, 75-80%. The relatively low installation cost of VRcades can provide users with an immersive experience. At the same time, the high-end free-roaming interactive VR experience will become a quality upgrade model for the VR Experience Center. The report predicts that by 2022, 41% of location-based VR consumer spending will be in these locations.
The multi-user LBVR allows players to move around in the VR environment and interact with other people without restrictions. Despite the small number of installations, it is expected that this category will have the highest compound annual growth rate during the forecast period. This is because most consumers are willing to share their experiences with friends, especially in more developed markets. In addition, the majority of multiplayer game installations provide original content limited to franchise partners, so maintaining exclusiveness can increase attractiveness.
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