Virtual reality head-mounted displays are rapidly growing in popularity with shipments expected to reach 130 million worldwide by 2021 according to research firm Tractica. This will be an increase above the 17 million shipments in 2016.
Facebook/Oculus, HTC/Valve, Sony, Samsung, and a community of Chinese companies are putting significant investments in the burgeoning VR HMD industry. Q3 2016 saw the release of Facebook’s Oculus Rift and HTC/Valve’s Vive. Q4 2016 welcomed Playstation VR from Sony and both Facebook and HTC/Valve are seen as stabilizing their products’ distribution and the ecosystem, according to the report.
The year 2016 has been tagged as the “debut of consumer virtual reality” (VR) and so far there has been solid strides by companies to develop immersive and alluring content. Mobile VR headsets are still dominating the market at 75% of all units sold in 2016, but console-based and PC-based head-mounted displays are expected to make solid gains in upcoming years. Tractica predicts that VR HMDs along with accessories and content will generate a revenue of $35 billion by 2021.
While the VR industry is offering great promise for many companies, a concern still remains as to how to utilize the technology to reach full potential. With the high amount of money being invested into VR technology, there is a strong fear of too much risk taking. However according to Tractica principal analyst Mark Beccue, “the emergence of low-cost mobile VR solutions is helping” to increase more innovation and experimentation in the medium.”
Tractica’s report titled “Virtual Reality for Consumer Markets”, was compiled from global market forecasts of annual unit shipments and the associated revenue from 2014 to 2021. The research is segmented by world region and market type. HMDs and VR accessories are also segmented into smaller categories based on the type of content.
The report can be accessed and an Executive Summary report downloaded at this link, https://www.tractica.com/research/virtual-reality-for-consumer-markets/.