Like most new technologies and platforms, virtual reality has had a rocky, but predicable, start. But the path is clear: by 2020, the virtual reality market will be worth 15 times what it was in 2016. $28.3B to be precise. This year, the emerging market will grow to a considerable $3.7B, driven largely by hardware with software getting its footing.
Supply constraints limited access to headsets like the Oculus Rift in 2016, holding back both hardware and software revenue, but these issues have largely been resolved. Greater availability of both headsets and compelling content will drive consumers to spend more this year.
Already the market is solidifying as consumers become increasingly aware of, and comfortable with, the devices. Light mobile headsets like Google’s Cardboard will see 30% reduction in shipments in 2017, while premium devices will triple. Greater penetration of quality devices will open this massive new audience to a swath of new content and applications. The challenge for content creators, then, is understanding who the audience is and what they want.
In this new report, driven by SuperData’s VR Data Network, the world’s first and largest coalition of virtual reality companies, dives into the where the market is, where it’s going, and how stakeholders can best position their content and strategy. In a dynamic and ever-changing new technology market, these insights give you the edge in engaging and retaining users and planning for their desires tomorrow.
Findings on this growing consumer base include:
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Virtual Reality Industry Landscape
VR Software and Services
Investment in Immersive Technology
Most-Anticipated VR Content
VR Headset Owner Profile
VR Audience Segments
Looking Ahead to AR and MR