The VR market as a whole will be worth over $9 billion by 2021 according to a report by CCS Insight.
CCS Insight have predicted that worldwide sales of smartphone Virtual Reality headsets will hit 70 million in 2021.
According to it’s latest ‘Global Forecast for Virtual Reality (VR) and Augmented Reality (AR) devices’, CCS expect Smartphone VR headsets to hit 14 million this year and 25 million in 2018.
CCS Insight Chief of Research Ben Wood said “Headsets designed for smartphones are the entry point for most consumers when it comes to virtual reality.
“We expect the momentum to continue at Mobile World Congress next week, with Google’s Daydream headsets being a prominent part of many high-end smartphone launches.”
Global sales of dedicated VR headsets such as Vive from HTC and Playstation VR from Sony are also expected to have a huge increase of 800 per cent from 2017 to 2021, selling 22 million units.
According to CCS Insight, the VR market as a whole will be worth $1.5 billion in 2017 and rise to $9.1 billion by 2021.
“There’s no doubt that dedicated VR headsets can be a tough sell” continued Ben. “The complete package of the headset and a high-end PC is out of reach for most consumers.
“But VR experiences in theme parks, at cinemas and in other locations such as car showrooms and travel agents offering ‘look before you book’ experiences will only serve to educate users on the potential of the technology.”