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VR Growth to Outstrip All Other Media by 2025

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Whilst still small, the virtual reality (VR) industry is continuing to see improved growth and sizable investment with several studios recently revealing new funding rounds. This week, PwC has released its Global Entertainment & Media Outlook 2021-2025 report which predicts that not only will this growth continue, it’ll increase more than any other media segment.

PwC Global Outlook VR Growth
Image credit: PwC

According to PwC’s report, the VR market achieved global revenues of $1.8 billion USD during 2020 which was a 31.7% increase over 2019. Over the next few years, revenue growth is expected to be maintained at around 30%, reaching $6.9 billion by 2025. Uptake has been helped by smaller, lighter VR headsets coming to market at a more consumer-friendly price point, as well as an increase in content of high quality.

Videogames will remain the driving force when it comes to revenue but PwC does expect to see growth in VR video as well. The report found that VR video generated $615 million during 2020, likely to grow to $1.4bn by 2025.

Unsurprisingly, VR adoption and growth will be the largest in the standalone headset market with expectations that it’ll triple by 2025. While this includes both consumer and enterprise, the home PC VR market will also increase just not to the same levels. Mobile VR devices which dominated only a few short years ago will continue to decline as they’re superseded by all-in-one (AIO) headsets.

PwC Global Outlook VR
Image credit: PwC

All this growth looks great for VR as a whole but it still pales in comparison to the videogame industry at large. Thanks to the new console generation plus social and casual gaming accounting for nearly 60% of the market, revenues will reportedly reach $194.7billion in 2025. And when it comes to game sales, digital is the dominant force. In the next four years, PC gaming will be 99.8% digital and console physical sales will drop from 48.2% to 35.5%. VR has always been digital from the outset, with PlayStation VR being the only platform to offer physical copies.

As the VR market continues to gain traction, both in the consumer end enterprise sectors, VRFocus will keep you updated.

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Source: https://www.vrfocus.com/2021/07/vr-growth-to-outstrip-all-other-media-by-2025/

AR/VR

Epic Games Acquires Sketchfab, the Massive 3D Object Library Compatible with AR/VR Headsets

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Sketchfab, the platform that lets you view, share, and download 3D models via traditional monitors and AR/VR headsets, today announced its been acquired by Unreal Engine creators Epic Games.

Founded in 2012, Sketchfab plays host to over 4 million 3D assets, all of which are accessible through its web-based platform across PC, mobile, and immersive headsets. In a blogpost announcing the acquisition, Sketchfab says it aims to make 3D, AR and VR content more accessible and grow its creator ecosystem, something it says is “critical to an open and interconnected Metaverse.”

Details of the acquisition are still thin on the ground, however Sketchfab says it will remain independently branded moving forward and will be working closely with Epic Games. Sketchfab says it will continue to support other game engines, Unity included.

The acquisition no doubt comes as a direct result of Epic securing a $1 billion financing round back in April, $200 million of which came from Sony Group Corporation. Epic still hasn’t tipped its hand on what that Metaverse will look like, however the company says it’s looking to build connected social experiences starting with its most successful properties FortniteRocket League and Fall Guys.

“Joining Epic will enable us to accelerate the development of Sketchfab and our powerful online toolset, all while providing an even greater experience for creators,” said Alban Denoyel, CEO and co-founder of Sketchfab. “We are proud to work alongside Epic to build the Metaverse and enable creators to take their work even further.”

Sketchfab has partnered with Epic Games in the past as a recipient of an Epic MegaGrant. Unreal Engine, one of the two largest game development platforms alongside Unity, officially supports the 3D model platform via a plugin, as well as Epic’s RealityCapture and ArtStation.

“We will maintain and expand our integration efforts with all creation tools and 3D/VR/AR platforms, so you can easily upload to and import from Sketchfab everywhere,” the company says.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://www.roadtovr.com/epic-games-acquires-sketchfab-massive-3d-object-library-compatible-ar-vr-headsets/

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AR/VR

Epic Games Acquires Sketchfab, the Massive 3D Object Library Compatible with AR/VR Headsets

Published

on

Sketchfab, the platform that lets you view, share, and download 3D models via traditional monitors and AR/VR headsets, today announced its been acquired by Unreal Engine creators Epic Games.

Founded in 2012, Sketchfab plays host to over 4 million 3D assets, all of which are accessible through its web-based platform across PC, mobile, and immersive headsets. In a blogpost announcing the acquisition, Sketchfab says it aims to make 3D, AR and VR content more accessible and grow its creator ecosystem, something it says is “critical to an open and interconnected Metaverse.”

Details of the acquisition are still thin on the ground, however Sketchfab says it will remain independently branded moving forward and will be working closely with Epic Games. Sketchfab says it will continue to support other game engines, Unity included.

The acquisition no doubt comes as a direct result of Epic securing a $1 billion financing round back in April, $200 million of which came from Sony Group Corporation. Epic still hasn’t tipped its hand on what that Metaverse will look like, however the company says it’s looking to build connected social experiences starting with its most successful properties FortniteRocket League and Fall Guys.

“Joining Epic will enable us to accelerate the development of Sketchfab and our powerful online toolset, all while providing an even greater experience for creators,” said Alban Denoyel, CEO and co-founder of Sketchfab. “We are proud to work alongside Epic to build the Metaverse and enable creators to take their work even further.”

Sketchfab has partnered with Epic Games in the past as a recipient of an Epic MegaGrant. Unreal Engine, one of the two largest game development platforms alongside Unity, officially supports the 3D model platform via a plugin, as well as Epic’s RealityCapture and ArtStation.

“We will maintain and expand our integration efforts with all creation tools and 3D/VR/AR platforms, so you can easily upload to and import from Sketchfab everywhere,” the company says.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://www.roadtovr.com/epic-games-acquires-sketchfab-massive-3d-object-library-compatible-ar-vr-headsets/

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AR/VR

Epic Games Acquires Sketchfab, the Massive 3D Object Library Compatible with AR/VR Headsets

Published

on

Sketchfab, the platform that lets you view, share, and download 3D models via traditional monitors and AR/VR headsets, today announced its been acquired by Unreal Engine creators Epic Games.

Founded in 2012, Sketchfab plays host to over 4 million 3D assets, all of which are accessible through its web-based platform across PC, mobile, and immersive headsets. In a blogpost announcing the acquisition, Sketchfab says it aims to make 3D, AR and VR content more accessible and grow its creator ecosystem, something it says is “critical to an open and interconnected Metaverse.”

Details of the acquisition are still thin on the ground, however Sketchfab says it will remain independently branded moving forward and will be working closely with Epic Games. Sketchfab says it will continue to support other game engines, Unity included.

The acquisition no doubt comes as a direct result of Epic securing a $1 billion financing round back in April, $200 million of which came from Sony Group Corporation. Epic still hasn’t tipped its hand on what that Metaverse will look like, however the company says it’s looking to build connected social experiences starting with its most successful properties FortniteRocket League and Fall Guys.

“Joining Epic will enable us to accelerate the development of Sketchfab and our powerful online toolset, all while providing an even greater experience for creators,” said Alban Denoyel, CEO and co-founder of Sketchfab. “We are proud to work alongside Epic to build the Metaverse and enable creators to take their work even further.”

Sketchfab has partnered with Epic Games in the past as a recipient of an Epic MegaGrant. Unreal Engine, one of the two largest game development platforms alongside Unity, officially supports the 3D model platform via a plugin, as well as Epic’s RealityCapture and ArtStation.

“We will maintain and expand our integration efforts with all creation tools and 3D/VR/AR platforms, so you can easily upload to and import from Sketchfab everywhere,” the company says.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://www.roadtovr.com/epic-games-acquires-sketchfab-massive-3d-object-library-compatible-ar-vr-headsets/

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AR/VR

The Number of VR Users on Steam Dropped Sharply Last Month, But Valve Isn’t Saying Why

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Valve’s monthly Steam Hardware & Software Survey, which we’ve been carefully tracking for years now, has been a useful way to gauge how many VR headsets are being used on the platform each month. The latest data shows an odd, sharp drop in the number of VR users on Steam, but Valve isn’t saying why.

Each month Valve collects info from Steam users to determine some baseline statistics about what kind of hardware and software is used by the platform’s population, and to see how things are changing over time, including the use of VR headsets.

The data shared in the survey represents the number of headsets connected to Steam over a given month, so we call the resulting figure ‘monthly-connected headsets’ for clarity; it’s the closest official figure there is to ‘monthly active VR users’ on Steam, with the caveat that it only tells us how many VR headsets were connected, not how many were actually used.

While Valve’s data is a useful way see which headsets are most popular on Steam, the trend of monthly-connected headsets is obfuscated because the data is given exclusively as percentages relative to Steam’s population—which itself is an unstated and constantly fluctuating figure.

To demystify the data Road to VR maintains a model, based on the historical survey data along with official data points directly from Valve and Steam, which aims to correct for Steam’s changing population and estimate the actual count—not the percent—of headsets being used on Steam.

Monthly-Connected VR Headsets on Steam

We’ve been tracking the data on VR headsets published in the Steam Hardware & Software survey ever since first-gen VR headsets hit the market. The number of monthly-connected VR headsets on Steam has always seen ups and downs, but last month was different.

In the latest data we saw a surprisingly sharp drop in headsets used on Steam. In fact, it’s the single largest drop we’ve ever seen in the data set—from 2.31% to 1.86%—which is why it stood out as perciular.

While it’s easy to look at the data and see that there have been upswings that are nearly, or as large, as the drop, the major upswings have had fairly clear explanations: the big jump from March 2020 to April 2020 was largely due to the launch of Half-Life: Alyx, while the jump from December 2020 to January 2021 was likely due to the holiday season (with Quest 2 having just recently launched). As for this big drop in the last month, we haven’t been able to come up with any clear explanation.

Road to VR has reached out to three separate people at Valve, on multiple occasions, for comment on the data, but we’ve received no response. Until then, we can only really wait to see if next month’s data brings any answers.

We have seen the Steam Hardware & Software Survey report some funky VR numbers here and there over the years, but usually a correction comes within a week or so. Here we are, three weeks into the month, and nothing appears to be changing. So at this point we can’t say for certain which of the following is true:

  • The data is correct, but the explanation for the drop is unknown
  • The data is correct, due to some kind of statistical adjustment made by Valve
  • The data is in error

Share of VR Headsets on Steam

Looking at the breakdown of individual headsets in use on Steam, we don’t see any strange jostling that we might expect to come with the odd drop in overall headset use.

Despite somewhat notable losses from Rift S (–0.69%), original Rift (–0.54%), and Quest (–0.08%), Quest 2’s gains (+1.74%) managed to grow Facebook’s share of headsets on the platform overall, pushing it to more than 60% for the first time.

Even with the strong growth of Quest 2, other headsets found some room to grow too, like Valve Index now at 16.68% (+0.19%), Vive Cosmos at 1.75% (+0.56%), and even the original HTC Vive at 11.24% (+0.13%).

Windows Mixed Reality dropped slightly to 5.48% (–0.17%), though this marks a three month loss-streak, down from 6.50% share back in March.

HTC’s Vive Cosmos Elite took a larger hit down to just 0.14% (–0.68%), making for a five month loss-streak. Combined, all of HTC’s headsets on Steam now account for 15.22%, less than Valve’s Index headset.

This month’s data also reflected the debut of two new headsets, HTC’s Vive Pro 2 at 0.08% and Pico Neo 3 at 0.27%.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://www.roadtovr.com/steam-survey-vr-headsets-june-2021-sharp-drop/

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