Type of virtual reality device – additional information
Growing consumer interest in virtual reality technology is expected to drive growth in the VR product market in the future. By offering simulations of real situations, VR devices have drawn the attention of multiple industries, but especially encouraged the development of games and content. One of the best-known virtual reality products is manufactured by Oculus VR. When Facebook acquired Oculus in 2014 the company and its virtual reality headset gained a lot of attention in the public eye. Aside from Oculus VR, tech companies such as HTC, Sony, Samsung and Google are developing consumer VR products for the mass market as well, contributing to a forecast rise in revenue of VR products to more than 5 billion U.S. dollars by 2018 worldwide.
In 2016, nearly half of the 10.8 million virtual reality users worldwide are forecast to use VR technology on a PC, followed by usage on consoles and mobile phones. The PC platform is likewise taking the lead in VR hardware and software in the same year, predicted to be worth about 1.6 billion U.S. dollars. By 2020, however, the virtual reality console market is projected to become almost as big as the PC market, reaching a value of about 15 billion U.S. dollars.