According to ABI Research’s AR and VR Devices and Enterprise Verticals report, following a content-starved market, VR is set to take off with new content choices. It is forecast that the total VR device shipments by 2021 will reach 110 million. The research shows that standalone devices will experience a 405% CAGR by the end of 2021. This is in comparison to mobile VR which will only see a 42% CAGR over the same period. Although, in the market today, mobile VR shipments for Samsung Gear VR and Google Daydream, dwarf all other VR device types. The new device players include Royole and Pico, both of which have already entered the global market, together with many other Chinese manufacturers.
Eric Abbruzzese, Senior Analyst at ABI Research believes that low cost and high accessibility have driven VR adoption with mobile devices and associated VR accessories. However, he believes that the trend is toward standalone devices and this will continue over the next five years until mobile and stand-alone VR devices see parity in shipments.
The rise in stand-alone VR devices will result in a diversity of user experiences which will broaden from the gaming-focused VR market of today. ABI Research anticipates a total market size of $64 billion by 2021 with non-gaming software and content, VR advertising, and VR-related video revenue together holding a significant share of the market. VR applications in retail and marketing will see a 124% CAGR until the end of 2021 with video, education, and tourism also expected to see significant growth, although not forecast to be larger than the gaming market.
