According to the report from market research firm Trendforce, the entire VR market will be worth US $70 billion by 2020.

According to a report from a research firm, Trendforce, the VR market is expected to grow significantly in the next four years, reaching a rather impressive US $70 billion by 2020. According to the report, the VR hardware market will be worth around $20 billion while the software part of the VR market is estimated to reach $50 billion in the same period.

In the next year, virtual reality is expected to reach US $6.7 nbillion in revenue, mostly from the sale of the upcoming Oculus Rift and HTC Vive headsets.

The same report also suggest that these estimates do not include the value of non-commercial use of VR technology. While this part of market will not generate significant revenue, it will still have significant impact on the growth and innovations in the VR market. The report from Trendforce also suggest that social media will have a big part in the VR growth.

Unfortunately, the virtual reality market is still too young to make any bold expectations but considering the recent push, it is obvious that virtual reality is the next big thing.



Source: via Gamesindustry.biz.