Explosive growth forecasted for virtual reality market

Market researcher ABI research is forecasted explosive market growth for Virtual reality. ABS estimates shipment of 90 million Head Mounted Display (HMD) in 2027, and by market revenue ABI estimates VR market to reach more than US$ 95 billion in 2027, the revenue includes the revenue from hardware software and services. In recent past virtual reality was more of hype, rather than solid growth, that's not going to be the case now, present demand for virtual reality can be seen both in consumer and enterprise market. ABA says "consumer interest in VR games and media continues to grow after COVID accelerated activity. At the same time, the need for worker enablement and immersive content in enterprise remains strong." “The virtual reality market is no stranger to false starts, with identifiable efforts in VR dating back to the 1980s and 1990s. While the technology never found purchase, the increased capability of VR hardware combined with, perhaps most importantly, demand for immersive content in numerous markets, presents a significant opportunity,” says Eric Abbruzzese, Research Director with ABI Research. “While the intense focus on metaverse is partly responsible for this increase, shorter term and smaller scale opportunities are driving the expected growth. With a shipment of 79 million Standalone HMDs takes major share in 2027, a 40% growth in CAGR. Tethere...