Study: Virtual Reality Market Will Be Worth €16.5 billion in 2020

Study: Virtual Reality Market Will Be Worth €16.5 Billion in 2020

According to the latest report on Artificial Reality, the market for Virtual Reality (games plus headsets) is estimated to grow from €2.6 billion in 2016 to and €16.5 billion in 2020 at an annual CAGR of 58.8 percent.

This particular report on Artificial Reality points out the industrial and technological trends, as well as, the market forecasts and figures. The study provides a detailed analysis about how positioning of key offerings is done through case studies. The report highlights the key takeaways with respect to revenues, games and number of devices.

The study majorly focused on the VR revenues of Zeiss VR One, Sony PlayStation VR, Merge VR, Impression PI, Homido, Freefly VR, FOVE VR, Sulon VR, Star VR, Samsung Gear VR, Pokemon GO, PlayStation VR, Oculus Rift, Impression PI, HTC Vive, HoloLens, Google Cardboard, Moar, Steam, Sony, Samsung, Microsoft, HTC, Google, Facebook and Apple.

How Is Virtual Reality Different from Mixed or Augmented Reality Technologies?

Virtual Reality (VR)

Virtual Reality (VR) is a simulation created by computers where a user can freely interact and immerse into an artificial environment. Different interfaces can be used to implement VR. A headset supporting VR provides the finest immersion for a customer.

In case VR content requires a user to act, he or she can look at a particular point to interact with the interface or use sensors or a controller on the body. The user can navigate in VR by grabbing an item and moving it or by moving on the spot.

In case of VR, the virtual environment replaces a real environment entirely. This feature of VR improves the customer experience to a great extent compared to the mixed or augmented reality or a conventional display.

This functionality makes VR highly suitable for use in video games as an immersive platform.

Augmented Reality (AR)

This technology refers to the technique of overlaying the digital data over actual physical elements done in real time. In case of AR, the real environment of the user is a key element. The additional information does not replace the real environment but augments it on an ad hoc basis. There are various types of devices that are used to make AR possible like smartphone and tablet screens, headsets and connected glasses. Currently, AR contact lenses are also being tested.

Compared to mixed reality or VR, AR offers a lower immersive experience to the users. However, AR has established itself as an industrial mainstay across aeronautics, education, healthcare, travel, retail, real estate and sports.

 

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