A recent survey conducted by the Game Developer Collective reveals a largely negative sentiment toward the virtual reality (VR) gaming market. According to the study, 56 percent of respondents believe the VR market is either declining or stagnating. Specifically, 38 percent see stagnation, while 18 percent feel the market is in decline. In contrast, a smaller group of 23 percent believes the market is experiencing modest growth over time.

One of the primary obstacles to the expansion of VR gaming is the high cost of entry. The PlayStation VR2, for instance, launched with a steep $550 price tag, which has limited its adoption. While Sony has yet to lower the price, Meta has taken a different approach, frequently reducing prices on its Quest headsets or offering cheaper models to attract more buyers.

The survey also highlighted the challenges faced by developers working in the VR space. 88 percent of respondents identified the limited audience reach and market size as the biggest hurdles to VR’s growth. Other issues include the difficulty of creating comfortable, immersive experiences (38 percent) and a need for more funding or financial opportunities (35 percent), which have hindered developers from entirely investing in the medium.

Of those developers not creating VR titles, 53 percent believe their companies will never transition to VR development. Only 13 percent think it’s likely within the next five years, with smaller percentages predicting a shift within one to five years.

The introduction of Apple’s mixed reality headset, the Vision Pro, earlier this year has also failed to generate significant enthusiasm among developers. A striking 72 percent of those surveyed do not view the device as an essential development for the future of VR gaming, and many believe it will have little to no impact on the industry. Meanwhile, 13 percent are still determining its potential, and only 6 percent feel more inclined to try developing VR games due to the Vision Pro. Nine percent, however, feel even less likely to explore VR development.