Virtual reality, a market of more than 7 billion by the end of the year

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Adriana Gil
@adrianagil

Summary

  • A market supported by B2B according to Greenlight Insights
  • The potential of virtual reality cinema

According to a report by Greenlight Insights, the virtual reality market is expected to reach $ 7,20 billion by the end of the year. A total which should then explode in the coming years. 

A market supported by B2B according to Greenlight Insights

7,20 billion. A figure that can make you dizzy. Yet, according to the Greenlight Insights report, this is still only the beginning. It is to be expected that this figure will increase even more dramatically in the coming years. Thus, by 2021, it should be multiplied by 10 to reach 75 billion dollars!



For now, the majority of revenue comes from the sale of helmets (65%) but is expected to decline by 2021 to 58%. At the same time, it is B2B that will explode. Thus, Greenlight Insights believes that more and more companies will want to use virtual reality to develop. This sector, which currently represents only 1% of the market, should then reach 24%.

explique Clifton Dawson, CEO of Greenlight Insights.

The potential of virtual reality cinema

The second area of ​​development of virtual reality in the coming years should be the “LBE” (location based entertainment). It is about the use of virtual reality in the entertainment industry. Mainly cinemas but also theaters and even games rooms. According to Greenlight Insights, this sector is only $ 222 million today. But by 2021, it will hit $ 1,2 billion.

However, surprisingly, this use will be primarily intended for users who want to test a product before buying it. The entertainment industry would thus constitute a sort of lead product. “Said Eddie Lou, Chinese market analyst at Greenlight Insights. It is true that the current price of most virtual reality headsets calls for a certain caution when it comes to investing.. For many, this represents a real leap into the unknown and the idea of ​​testing before you buy is therefore very appealing.
Greenlight Insights is an analysis firm that regularly produces reports on the virtual reality market and major trends. You can thus find their mapping of virtual reality companies or even the 8 fields of application of virtual reality outside of video games.





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