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BizReport : Ecommerce archives : November 04, 2016

Forecast: Virtual Reality to push $40b mark

Look for virtual reality to see a strong uptick over the next ten years. That's the takeaway from Greenlight Insights new report; according to their forecast virtual reality revenues will hit at least $38 billion by 2026.

by Kristina Knight

Virtual reality has been talked about for some time, but with the strides in virtual technology, some experts believe the future for virtual reality is bright - and it is now.

Greenlight Insights has released their Virtual Reality Industry: Fall 2016 Report, and among the predictions is this: virtual reality will go from being tethered to smartphones or tablets to being standalone devices that take consumers on deeper, more connected virtual journeys.

"The Playstation VR launch, and Microsoft's entry are important events, but we've identified a number of pivotal changes that we expect will alter the trajectory of the entire VR industry," said Clifton Dawson, CEO, Greenlight Insights.

Among the more interesting findings:

• Displays, cameras and other hardware will represent 61% of the VR spend by 2026
• Spherical/VR camera sales are predicted to push $4.5b by 2026
• Beginning in 2019, VR will see significant growth
• Annual revenues are expected to reach at least $38b by 2026

"Many observers have made predictions about the VR industry that are highly optimistic," said Stephen Marshall, Senior Vice President, Greenlight Insights. "In this rapidly developing industry, the most useful forecast is one that reflects the very different VR, AR, and MR modalities, as well as distinctive use cases and market drivers. This is the approach Greenlight has taken with this new forecast."

Tags: Greenlight Insights, virtual reality, virtual reality forecast, virtual reality trends

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