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Metaverse continues to reach new heights as mobile phones such as virtual reality (VR) headsets evolve. However, due to the unfavourable economic conditions, sales of these helmets decreased. But do companies still believe that 2023 is going to be the year of metavers?
Metaverse was one of the most important trends of 2022. The industry was estimated to grow to $800 billion in 2024, according to a Dec. 2021 Bloomberg report. The huge growth in metavers and virtual reality has attracted many gaming, arts, e-commerce, healthcare, blockchain and other retail leaders to join the metaverse space.
Metaverse is a simulated numerical environment that mixes virtual reality (vr) with augmented reality (ar), social media platforms, and blockchain to construct rich user interaction zones that look like the real world. The individual can play in the workshop and even work in this simulated environment without leaving the comfort of his home.
Users are able to join the metaverse from anywhere in the world. They need a high-speed internet connection and a VR headset to immerse themselves in a 3D and simulated world.
Headsets for the Metaverse
VR headsets transport the person to a digital world without getting out of bed or leaving the house. Headphones and gloves are used to get into the field. However, it is reported that by 2030 these VR headsets will transform into a full body haptic suit.
Currently, the helmet that caused the sensation on the market was the quest 2 of meta, which was available in 2020. It was later followed by the professional quest, which concentrated on businesses but cost $1,100 more than quest 2. the significant increase in prices made it unaffordable for many RV lovers. This is evident in US and global sales statistics, taking into account the majority share of meta and dominance.
According to the NDP group, sales of virtual reality headphones fell by 2 per cent at the end of December 2022, compared to $1.10 billion in 2021. Year-over-year decrease of 12% to $9.60 million.
Lower sales are not surprising given the challenging market conditions. Ben Arnold, NPD’s consumer electronics analyst via Twitter, told BeInCrypto: “VR had an amazing holiday in 2021. It was a big moment (in 2021) to get one of these products, and virtual reality completely crushed it."
Nonetheless, the rising prices attributed to inflation remained the main factor behind the decline in sales figures for 2022. To bring further light to the story, beincrypto contacted analysts at ccs insight. Track the conversation through email, Macroeconomic weakness leaves its mark in the markets for consumer devices, and VR and augmented reality devices – often called extended reality sets – are no exception."
The company stated that sales of global units in this segment reached 10 million dollars in 2022. But it is anticipated that it will only reach $11.40 million in 2023.
Apple, Sony, Jump on Metaverse Bandwagon
The technological giant Apple, is going to release its version of the helmets this year. Another high-profile name in the game, iteration of Sony headphones will be around the $500 mark and is due next month.
Another tech firm based in Taiwan, HTC, recently introduced the VIVE XR Elite
Cher Wang, co-founder, and chair of HTC, said the release of its $1,099 wearable was the gateway to the metaverse.
Other companies, too, are jumping on the same bandwagon, as reported by BeInCrypto. Major names invest large reserves of cash to reach the same result.
Issues that should be considered.
Metavers, like other technologies before them, face barriers. And as the popularity increases, the interest of regulatory oversight agencies increases as well.
There are various pathways that illicit actors can take from users in the metavers. These include financial crimes and fraud, as well as those involving digital assets in particular. Piracy and theft of digital goods owned by service users in the metavers. That is why regulatory agencies need to address this emerging innovation.
In addition, a certain uncertainty and ambiguity metaworm still needs clarity.
