Virtual reality market set to soar

Screen Shot 2015-02-25 at 14.19.20While virtual reality (VR) has been around for a good old while, a market research firm now predicts massive growth in the marketplace.

ABI Research said it expects to see three million VR units ship this year, but that will soar to 55 million by 2020.

It believes that head mounted displays will be the winning form factor for both augmented reality (AR) and VR.

The reason for the growth is that mobile reliant devices such as the Samsung Gear VR will be successful, while “tethered defices” and stand alone devices are likely to need more time to mature.

One of the reasons is that existing software, like CAD (computer aided design) software, can be easily modified to support VR devices.

Sports networks and video makers will also start supporting these type of devices.

ABI believes that it won’t be until next year before this market really starts to fly.