Developments in sensor technologies, processing power and form factors have progressed the VR (Virtual Reality) market and the inclusion of VR in smartphones; a device that is almost ubiquitous in developed countries.
While a variety of VR (virtual reality) units have been in development 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. In 2017 this was augmented by the development of standalone VR headsets from a range of companies, fully rounding out the potential for head‑mounted VR devices.
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.
Juniper has identified 2016 as the watershed year for VR (virtual reality) headsets, in terms of product launches and consumer roll outs. The recent attention to and investment into VR is helping to revitalise the industry, so with major brand commercial launches imminent there is huge potential for rapid market expansion.