Consumer VR devices on target for £7 billion sales by 2021
The Virtual Reality and Augmented Reality device markets will make a total of £7.2bn in 2021, CCS Insight has recently claimed.
While revenue generated by consumer VR and AR devices has thus far not experienced the rapid uptake anticipated by many in the industry – sales in 2017 are expected to reach just £1.2bn - this is nonetheless expected to rise as the devices become more accepted within the marketplace. As the technology has only recently become accessible to consumers, it is still seemingly met with a degree of trepidation.
Dedicated VR headsets such as the HTC Vibe and Oculus Rift have underperformed, possibly due to their prohibitive cost and reliance on a full high-end PC setup - but the much more accessible PlayStation VR has also failed to meet targets. Headsets for mobile devices have seen more success and are expected to continue to lead market growth.
Samsung’s Gear and Google’s Cardboard devices provide an attractive gateway without the obligation to purchase any extra hardware, while the new Google Daydream VR headset has featured prominently in a number of smartphone launches.
This exposure is expected to open many new eyes and hearts to the world of VR and AR, paving the way for a more lucrative future for the medium. We at Pacific are already embracing the VR phenomenon and have developed numerous solutions based around it. As the technology moves forward, we aim to be at the forefront of its integration into all manner of applications.