HAMPSHIRE, ENGLAND—A number of companies and slated to release new Virtual Reality products starting in 2016, with an expected number of 3 million headsets shipments by the end of the year. Juniper Research, in its new report “Virtual Reality: Market Dynamics & Future Prospects 2015-2020,” indicates that number could increase 10 times, with 30 million headsets being shipped globally by 2020. Juniper pinpoints the growth in the video and gaming industries as key factors in this surge of VR headsets.
Oculus, Sony and HTC are all expecting to launch new VR products over the next 12 months. These immersive applications will offer improved technology, like low latency and smarter graphics, at what is expected to be reduced prices.
“The recent attention to and investment into virtual reality is helping to revitalize the industry and with major brand commercial launches imminent, there is huge potential for rapid market expansion,” said Joe Crabtree, co-author of the report.
Additional findings from the report indicate that the Far East and China will see increased development and production activities from a rise in consumer demand; also, hardware retail revenue from VR HMD headset sales will exceed $4 billion by 2020.
To see the full report, click here.
Juniper Research provides research and analytical services to the global hi-tech communications sector, providing consultancy, analyst reports and industry commentary.