Virtual Reality Devices: What to Expect In 2017

  • Virtual reality is actually becoming the biggest market after the smartphone revolution. As we enter in 2017, the Augmented Reality and Virtual Reality would be cheaper and better for consumers, handy for Enterprises.

    All in all, 2017 will mark the start of a new era for the next big thing, the later half of 2016 manifested the beginning of an ever-growing market with Sony introducing PlayStation 4 VR, Facebook buying Oculus Rift for $2 Billion and launching of HTC Vive VR Edition.

    The way Virtual reality will change the way we see the world is amazing, the technology is still in evolution phase, there is a lot to be done and improved with the time. Simply imagine the guided multi-dimensional virtual tours to any city of the world while sitting on your sofa, playing an intense field sport in your bedroom, or enjoying your spare time wandering Mexican village’s 360-degree sitting in your office in New York. Virtual Reality market 2017 expectations are high with its million devices sold in the last quarter of 2016.

    Let’s get straight to the VR and AR market expectations and reality. As estimated by International Data Corporation, the current market value of VR is standing at $5 Billion that is expected to increase tenfold in the next couple of years and maybe increase 20 times for the next two years until 2020. With the expected average annual growth of 200% for the next four years, VR and AR is going to cover every smartphone and around $2 Billion consumers and enterprises combined.

    A full-featured VR headset costs around $100-$500 per piece that is quite high to achieve the goal of manufacturers, still with all things kept in mind, the revenues and cost per item will go directly proportional as more devices will support the VR related software and hardware, two of the biggest players in Smartphone industry are seriously considering Virtual reality devices as one of the obligatory gadgets along with their smartphones.

    Samsung has already introduced an official VR headset along with its all-new flagship Samsung Galaxy S7 Edge. Investors and distributors are quite confident on achieving the goal of generating $170 Billion VR/AR market by 2020. With a huge and exponentially growing market in Asia, VR is likely to become public in 2017 in China and India with average production cost around $20 to $50 and distribution cost around $50-$100. It will decrease by 15% every year as stated by IDC.

    With a mind-blowing virtual experience, it has already created a hype that will attract investors and marketers to look forward to increasing its scope to higher levels. Gaming being the number one priority for the headset manufacturers and consumers, the gaming industry would be the first priority in the development of VR sets. We can see a completely changed and improved designed of VR Headsets as we experience in 2017, it could be similar to Google glasses or enhanced version of Microsoft Hololens, or Oculus Rift in a better but smaller shape with more and more features and updates with time.

    Believe it or not, Virtual Reality is going to be greater than the early 21st Century Smartphone revolution if marketed with the same passion.
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