VR Still Lags Behind in Delivering a 'Must-Play' Experience

The question of what it will take for Virtual Reality (VR) to expand beyond its current niche and become a significant commercial pillar in the gaming industry is a complex one. Since Oculus revived the VR market a decade ago, the technology has seen steady advancements in both hardware and software, albeit with linear growth in its addressable audience. Former Nintendo of America president Reggie Fils-Aimé recently emphasized the need for a 'must-play' experience to drive VR's growth, referencing a forecast by Statista that predicts VR will achieve only 1.7% global market penetration by 2027. This forecast, though potentially limited by the challenges of predicting market trends, underscores the broader point that the gaming hardware market is expected to dwarf the VR market for the foreseeable future. The concept of a 'must-play' game can be defined in two ways: a critically acclaimed title that sells hardware, such as God of War or The Breath of the Wild, or a genre-defining, industry-changing game like World of Warcraft or Fortnite. While VR has some highly acclaimed games, such as Half-Life: Alyx, Beat Saber, and Boneworks, these do not necessarily fit the latter definition of a 'must-play' that transforms the industry. The VR industry faces significant challenges in creating such a game, including the high cost of VR headsets, which creates a financial barrier to entry, and the perception of VR as anti-social. To overcome these hurdles, VR needs not only technological advancements but also a more accessible price point and user-friendly hardware. The emergence of a 'must-play' title in VR is contingent upon the technology evolving significantly, both technologically and commercially, to reach a critical mass of users. Until then, VR will likely remain a niche market, despite its potential for growth.