Consumer VR content to reach $8.3BN as first-gen headsets arrive


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| 06 February 2016




Virtual reality (VR) is still very much in the 'innovation' stage, but this will start to change with the imminent arrival of major first generation headsets says research from Futuresource Consulting.



The company’s report, Virtual Reality – Niche or Mass Market, cited as evidence of expected adoption moves by the likes of Google, Facebook, Samsung and Sony who Futuresource says have all placed a great deal of faith in the new technology. Moreover, the reports adds that such firms are already putting in place the ecosystems required to pave the way for mass market release.

The analyst expects the market to be given a significant boost over the next six months. It predicts that the launch of Samsung's Gear VR consumer unit in Q4 2015 as well as the imminent launches of the Oculus Rift and HTC Vive will transform the market along with the launch of the PlayStation VR headset later in the year.

The research also showed that films were one of the most popular content forms that people were most interested in experiencing in VR. Almost two-fifths of the survey indicated that they wanted to experience a film in VR. Only slightly more than a quarter of consumers were interested in experiencing VR sports, but as with movies and games, those consumers who already have a monetary commitment to the genre, such as a premium movie or sports subscription, showed a much higher level of interest.

Yet, Futuresource was very balanced about the long term prospects for VR, suggesting that commercialisation was some way off. “Consumer awareness is currently good for a comparatively new technology, but there is a long way to go, with the important 16-35 demographic in particular needing to be more aware. The big issue is, for all the hype, only 3% of consumers have tried VR,” explained Futuresource senior analyst Adam Cox.

“This needs to be a lot higher if people are going to be persuaded to part with a significant amount of cash. They need to understand what they’re going to purchase and no amount of marketing can do that – with VR you have to try it! VR has the potential to create significant revenue opportunities across the industry and it will fail if consumers aren’t aware of the technology or don’t have the opportunity to try it.”