The 2021 PlayStation showcase arrived this September to high anticipation for the newest round of launches and updates. Fresh off the excitement that followed the PS5’s release, all eyes were peeled for its next groundbreaking drop. However, tech and gaming enthusiasts that had their hearts set on the release of the PS5 VR (official name still unconfirmed) found little reason to celebrate.
Earlier this year, Sony Interactive Entertainment announced the impending release of the PS5 VR on the PlayStation blog. However, no launch window has been confirmed for this year, as fans await updates. This prolonged wait for the PS5 VR runs parallel to the disappointment of the PS5 release, where low stock and supply chain issues left fans scrambling to get their hands on the console.
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PS5 VR – A Missed Opportunity
As Sony works on meeting this demand before moving towards releasing the headset, it falls further behind on the massive opportunity to tap into the VR gaming market. Valued at USD 11.56 billion in 2019, the market is expected to grow rapidly between 2020 and 2027. Tech and entertainment giants like Oculus – now Facebook Reality Labs – have already made moves to lead within this space, hitting the ground running with early VR and XR releases.
The latest Oculus Quest has also increased its performance specs while making itself more accessible with a $100 price drop from the first Quest’s initial release price. The marked improvement in user experience has made the Quest 2 a quick favourite among gaming fans, and the numbers back up their fervour. According to an announcement in late 2020, over 60 games available on the Oculus Quest and Quest 2 made over $1 million since the start of the year, with Skydance’s “The Walking Dead: Saints and Sinners” reaching $29 million. BigBox VR, the makers of Fortnite-esque Battle Royale VR game “Population: One” have also joined Oculus studios this year, reportedly hitting $10 Million in just a few months.
Valve Software reopened the world of Half-Life after over a decade of inactivity with the release of Half-Life: Alyx, which has been hailed as one of the best expressions of the scope of VR gaming. H: LA has generated $40.7 million in revenue through direct purchases, with hundreds of free bundles distributed with the Valve Index Headset to boost interest and sales in VR.
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Virtual Reality – Future of Gaming
Incredible releases like Superhot, Star Trek Bridge Crew, The Elder Scrolls V: Skyrim VR (now a full VR translation of the single-player, open-world game), and cult favourite Five Nights at Freddy’s: Help Wanted are all kicking up a storm this year. This may translate to fewer gamers holding their breath for Sony’s VR breakthrough, with the distant release date inspiring as little confidence as CEO Jim Ryan’s statement that the future of the platform was “more than a few minutes away”.
Opinions may differ, but the numbers don’t lie: we are well in the thick of the most monumental releases of early VR since its inception, and as far as bold moves in this emerging market go – the time is now.