Virtual Reality is a dog that's about to have its dayBy Ryan Noik 9 July 2018 | Categories: news
Virtual Reality (VR), Augmented Reality (AR) and more recently, Mixed Reality (MR) have had a turbulent beginning, being both touted as the next big thing and elliciting disappointment when failing to make the splash that was expected.
However, a new report from SuperData asserts that the adoption of both virtual reality and mixed reality are about to accelerate. According to the company, the market for the technologies is expected to reach $7.7 billion in 2018, across both hardware and software.
More specifically, AR and MR revenue is anticipated to more than double to $3.2 billion this year, mostly due to the likes Pokémon GO and the upcoming Harry Potter: Wizards Unite. Indeed, coming as no surprise is that games appear to be leading the charge for VR adoption, taking a health 58% chunk of the software revenue this year so far.
The report also advices brands aiming to cash in on the trend that non-gaming entertainment will need to pin their revenue hopes on advertising to turn a profit, rather than trying to rely on direct revenue.
It also noted that “the proliferation of mobile AR solutions and the development of compelling MR technology is becoming a more interesting proposition to investors as VR goes through its gap of disappointment.”
As for where the most popular platform for VR is foreseen, it’s not AR or MR headsets, as these are still considered too costly at this point to attain critical mass among the general population. Rather, mobile AR is expected to be the primary driver for revenue over the next three years.
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