Virtual reality (VR) may at present be making smalls steps, but it is primed to make giant leaps over the next five years according to Juniper Research.
In its Virtual Reality Markets: Hardware, Content and Accessories 2016-2021 report, the analyst found that hardware revenues from VR headsets, peripherals and 360° cameras are set to reach over $50 billion by 2021, up tenfold from an estimated $5 billion in sales in 2016. The analyst expects to see the rapid growth to be derived from widespread adoption of VR by smartphone users, and the high unit prices commanded by headsets for PCs and consoles.
A key market trigger will be the launch of the PlayStation VR this October, and Microsoft’s Project Scorpio in 2017 – offering compatibility with the Oculus Rift. Juniper believes that consoles strike a balance between computing power and cost, providing high-end specs without many of the additional costs unlike PC VR, and offer a better quality experience than smartphone VR.
Indeed, in the report Juniper predicts that console VR will account for over half of VR hardware revenues, but only make up 27 per cent of shipments.
Source: Rapid TV News
