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Virtual Reality (VR) Thematic Research Report 2019 - VR Market was Worth $7B in 2018 and is Projected to Reach $28B by 2030 - ResearchAndMarkets.com

November 12, 2019

DUBLIN--(BUSINESS WIRE)--Nov 12, 2019--

The “Virtual Reality - Thematic Research” report has been added to ResearchAndMarkets.com’s offering.

Researchers expect the VR market, worth nearly $7bn in 2018, to become a $28bn industry by 2030, having grown at a compound annual growth rate (CAGR) of 13% over that period.

Virtual Reality (VR) has been around, in one form or another, since the mid-1950s. At several points over the last sixty-plus years, it has been touted as the next big thing in consumer technology, without ever fulfilling its potential. Facebook’s $2bn acquisition of Oculus in 2014 prompted another wave of interest, with adherents, eager to forget VR’s chequered past, dubbing the new generation of devices that followed in the wake of this deal VR 1.0.

Devices from Oculus, Sony, Samsung, Google, and HTC (among others) gained a foothold in the market, but VR 1.0 remained a niche concern, popular primarily with affluent early adopters and hampered, like previous iterations of VR, by technical drawbacks and unrealistic expectations. Consequently, the industry finds itself in transition once again, moving between VR 1.0 and a second generation which holds the potential for more mainstream adoption.

Aided by custom silicon, untethered headsets, robust business models, new content, and enterprise applications, the nascent VR 2.0 already appears more dynamic and results-oriented than the previous generation. The integration of artificial intelligence (AI), cloud services, motion tracking, eye tracking, 3D audio, and haptics should enable second-generation VR devices to deliver truly immersive experiences.

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Companies Mentioned

For more information about this report visit https://www.researchandmarkets.com/r/ep6dww

View source version on businesswire.com:https://www.businesswire.com/news/home/20191112005764/en/

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INDUSTRY KEYWORD: SOFTWARE TECHNOLOGY CONSUMER ELECTRONICS

SOURCE: Research and Markets

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PUB: 11/12/2019 10:35 AM/DISC: 11/12/2019 10:35 AM

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