According to Digital TV Europe, Frost & Sullivan believes that in the next five years, the VR market has the potential to replace television for the consumer market.
The Frost & Sullivan report, “Future Applications of Virtual Reality” states that VR is likely to have implications for both consumers and commercial users. For consumers, it is likely to replace television, social networks, game consoles and even smartphone as a medium that is used to view content or interact with others.
Frost & Sullivan’s research shows that the global VR hardware and software market is expected to grow from $1.37 billion in 2015 to $33.90 billion by 2022, at a compound annual growth rate of 57.8% between 2016 and 2022.
Analyst Comment
We’d treat these numbers with caution as F&S is not particularly involved in this area of research. (BR)
