Price, Lack of ‘Valuable’ Content Still Main VR Adoption ‘Barriers,' Says ABI
Revenue from augmented reality software and content for consumers is expected to rise by more than 100% in compound annual growth rate, reaching $20 billion in 2025, projected ABI Research Thursday. But “market elements have not aligned” to enable mainstream…
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virtual reality adoption, it said. “Growth will be strong in 2021, but the user base will not reach levels once thought probable since VR competes for usage time with TVs, smartphones, and traditional displays.” Price and availability of “valuable” VR content remain the “primary barriers” to mainstream adoption, it said. It described the Oculus Quest 2 gaming system as “the best positioned VR device the market has seen so far,” with a $300 starting price and no other hardware required to use it. But $300 “can still be expensive for a limited use item that will be outdated by next year,” it said. “While smartphone-like upgrade cycles are possible and would spur growth overall, the lack of necessity for VR will limit that possibility.”