LONDON, March 23, 2016 /PRNewswire/ -- The year 2016 will be the make or break year for the second coming of consumer virtual reality (VR). Facebook and Sony are both set to release the much-anticipated Oculus Rift and Project Morpheus headsets, respectively, by which time HTC's Vive head-mounted display (HMD) will have been on the market for a while. A number of lessons have been learned since the 1990s when consumer VR last generated this much hype, with huge strides having been made on the comfort of HMDs, creating a convincing level of immersion, the emergence of standards, and the development of compelling content.
Getting users to experience VR technology firsthand, and therefore truly understand its potential, remains a challenge, but the emergence of low-cost mobile VR solutions is helping. Even so, some industry participants strongly believe that anything requiring the user to wear a cumbersome device will ultimately fail. The stakes are high given the huge amount of money invested in the industry by some of the world's biggest companies. Consequently, industry players continue fine-tuning their products so as not to muddy the water for all involved. Tractica believes that these efforts will bear fruit in the coming years, and that combined revenue for HMDs, VR accessories, and VR content will increase from $108.8 million in 2014 to $21.8 billion worldwide by 2020, with a compound annual growth rate (CAGR) of 142%.
This Tractica report provides a comprehensive analysis of the market dynamics, technology issues, and competitive landscape for consumer VR hardware and content. The report features global market forecasts for annual unit shipments and associated revenue during the period from 2014 through 2020, segmented by five world regions. HMDs are segmented into three product types: PC-based devices, console-based devices, and mobile VR headsets. VR accessories like gamepads and other VR-specific controllers, hand tracking devices, locomotion devices, and gaming vests and suits are also quantitatively analyzed. The content market is split into gaming, television, movies and music, social VR, tourism, and sports and fitness.
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