Recently, SuperData, a market research organization, released a new report. The VR market is expected to reach a size of US$4.9 billion in 2017 and will reach US$37.7 billion by 2020, which will be 20 times more than in 2016.
The main reason for market growth is the increase in the number of consumer hardware and software. SuperData pointed out that the revenues of hardware devices such as PCs and host VR headsets were limited by the supply in 2016, but this problem has been largely solved. They predict that more hardware will encourage market spending.
Another report released by CCS Insight indicates that mobile VR is still leading the VR market. Its survey shows that mobile VR sales in 2017 will reach 14 million units, and by 2018 will rise to 25 million units. Ben Wood, head of research at CCS Insight, said: "The headline design for smartphones is the beginning of most consumers entering virtual reality. Google's Cardboard and Samsung's Gear VR Headset have become leaders in this early field."
CCS Insight's global forecasts for VR and AR show that market growth has begun to slow, but they emphasize that the VR industry is still in its early stages and still has good growth potential in the next five years.
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