According to research firm SuperData’s latest Games & Interactive Media Report, revenues from virtual reality hardware and software will grow to approach $30 billion by 2020.
“Total earnings will rise 104% from 2016 to 2017, helping to pull the industry out of the gap of disappointment,” the firm claims.
From there, they say industry revenues are set to experience a massive upswing.
SuperData claim that by 2020, software revenues will reach $16.2 billion, overtaking the revenue generated by the hardware side of the industry.
While “gaming has become the primary use for VR,” the firm suggest that “location-based experiences are gaining traction and will be a gateway to adoption.”
By 2020, they say video content will become the second highest-grossing solware segment.
SuperData’s latest findings corroborate kindly with similar predictions made by other firms about the immediate roadmap for the VR industry.
“Entertainment will be the main driver of VR adoption in Australia, however, organisations of all types are excited by the prospects of developing VR applications,” Telsyte’s Managing Director Foad Fadaghi said in October last year.
