While a variety of units have been in development for VR (virtual reality) for decades, the technology has come to the forefront in recent years thanks to developments in sensor technologies and the availability of relatively cheap VR units in the form of mobile VR. There are a range of industries that stand to benefit from the development, from entertainment to medical and military applications.
The major developments in the VR market over the last year revolve around the release of consumer products from several key players and marks a real establishment of the industry in the consumer market.
Leading the high-end PC-based devices, we see the release of the Oculus Rift and HTC Vive, while the release of the PlayStation VR in Q4 from Sony brings the first major console-based VR technology to market. We have also seen significant development in mobile VR, notably with Google’s upcoming launch of the Google Daydream and the continued growth of establishing devices such as Samsung’s Gear VR. With the expectation of major players continuing to enter the market with a long‑term commitment to VR, getting in early to establish mindshare will be vital.
The Future of VR
In the short term we expect to see significant uptake in mobile based VR and a corresponding drive in content production. High-end VR technology will expand quickly but in slower numbers relative to mobile VR, largely because of price. However, the overall increasing user uptake and accessibility of VR is expected to help push diversification of the market, particularly into advertising and eCommerce opportunities, as well as the technological advancements from this enabling growth in enterprise markets and applications. As the industry begins to mature we expect vendors to pursue full immersive VR advancements as well as integrating with AR technology.
In our latest video whitepaper, Tony Crabtree, MD, discusses Juniper’s latest research on Virtual Reality Markets: Hardware, Content & Accessories 2016-2021
with James Moar, Co-Author and Senior Analyst.