New findings from leading hi-tech analysts Juniper Research reveal that wearable VR HMD (Virtual Reality Head Mounted Display) headset shipments will approach 30 million globally by 2020, compared to just over 3 million in 2016.
Juniper Research observes that with technological advances such as low latency and smarter graphics, coupled with the corresponding growth in interest from major players, VR is now in a position where the market can finally take off.
The technology is poised to transform the entertainment industry, including gaming and video, in the coming years whilst offering the potential to quickly expand into other markets such as industrial and healthcare.
2016 – A Watershed Year for VR
Juniper’s latest Insights research report, Virtual Reality: Market Dynamics & Future Prospects 2015-2020, identifies 2016 as the watershed year for virtual reality headsets, in terms of product launches and consumer roll outs. Oculus, Sony, and HTC are amongst the leading players expected to launch key VR products over the next 12 months.
Report co-author Joe Crabtree added: “The recent attention to and investment into virtual reality is helping to revitalise the industry and with major brand commercial launches imminent, there is huge potential for rapid market expansion”.
As a result, Juniper expects significant VR uptake over the forecast period as consumers benefit from a combination of improved VR technology allied to immersive applications, as well as reduced prices.
Other key findings
Far East & China will witness an increased development and production activities, driven by a sharp rise in consumer demand.
Hardware retail revenue from VR HMD headset sales will exceed $4 billion by 2020.
The whitepaper, The Rise of Virtual Reality, is available to download from the Juniper Research website together with details of the new research and interactive dataset.
Juniper Research provides research and analytical services to the global hi-tech communications sector, providing consultancy, analyst reports and industry commentary.