According to the latest research findings, approximately 20 percent of Facebook employees work entirely on virtual reality (VR) and augmented reality (AR). Also, the company has been acquiring smaller VR studios for years, and most recently, the BigBox VR and Unit 2 Games for the unidentified sums are the most recent investments.
These constant investments in talent and studio achievements may seem to be abrupt for a business segment that books for less than 3 percent of the top line of Facebook. But Mark Zuckerberg’s determined vision for VR is driving a shopping spree that won’t possibly stop anytime soon.Facebook strategy for VR gaming domination has started to put up a solid foundation of the technology and the developer talent. In a typical or a standard form, Facebook fashion, its primary approach has been to acquire the existing VR hardware and software companies.
Mark Zuckerberg’s excitement about the upcoming technology is entirely justified. Recent research suggests the VR gaming industry will reach about $45.2 billion by the year 2027 from being $5.1 billion in the year 2019. This interprets to an intensified annual growth rate (CAGR) of 31.8 percent, compared to a CAGR of only 5.3 percent for the overall gaming comfort market over the same period of predictions.
Facebook has about 2.8 billion monthly active users and has much more potential to add up the value to the Oculus platform by a pure volume of players, mainly when talking about popular social VR games like Population: One, Craya, and Beat Saber Multiplayer. Social gaming experiences are integrally more valuable with more players.