Report Forecasts VR Will Be $60 Billion Global Market Opportunity by 2022
Virtual-reality technology looks poised to gain “widespread adoption” in the next five years, reaching a global installed base of 256 million users and generating revenue of more than $60 billion in 2022, ABI Research said in a Wednesday report. The…
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consumer market is expected to account for most of that revenue, but commercial and enterprise space will expand its share, reaching more than 40 percent of the market by 2022, up from 26 percent in 2015, it said. VR content availability “remains an issue, but healthy strides were made in the past year, particularly in Asia-Pacific and China with location-based VR,” said the company. Though the VR consumer space “often garners the largest share of attention the market potential is much wider and we’ve already seen very promising interest in verticals,” including retail, healthcare, automotive, education and engineering, it said. VR experiences still vary “quite widely,” but further technology advancements “are on the horizon,” including eye-tracking, foveated rendering and increasingly higher-resolution screens, it said.