Scottsdale, AZ—In its first ecosystem tracker for the virtual reality (VR) and 360º video markets, ABI Research found there are already 460+ companies operating in that market.
According to ABI’s Virtual Reality SI and VAR Market Tracker report, broad market appeal for the consumer and enterprise sectors will see the global market exceed $60 billion by 2021. And the segment will continue to attract a variety of players. Applications, software, content distribution and core core technology represent the most common model, accounting for 60% of the companies.
“VR is not 3D,” said Michael Inouye, principal analyst, ABI Research. “With first-generation hardware sales lower than expected, some industry professionals suggest parallels between VR and 3D. But the wealth of companies active in this space and deep-seeded belief in VR stand in marked contrast to the short-lived heyday of 3D.”
Among the VR and 360º video companies targeting specific markets, ABI found media and entertainment represents 35% of all companies. Retail, commerce and marketing are the focus of just over 10%. In addition, video, healthcare, education, and architecture/engineering/construction/real estate all individually represent at least 6%.
Content creation has been a limiting factor. But ABI asserts that VR and 360º videos from gaming to user-generated content will become commonplace. Consequently the content will support a range of VR hardware.
“The growing list of companies is indicative of a market primed for growth. But eventually consolidation will occur as the market reaches higher levels of maturation,” added Sam Rosen, managing director and vice president at ABI Research. “Along the way, there will certainly be bumps in the road, but VR and 360º video are on the right path toward living up to early lofty expectations.”
ABI Research
ABI’s team is made up of senior and long-tenured analysts throughout the world. Their intensive interviews, years of experience and deep-data findings into the technology help its clients develop forward-thinking strategies.
The research firm quantitatively and qualitatively assess markets and the ecosystems forming around those markets. It strives to be ahead of its clients’ research needs to help move their organization in new directions. abiresearch.com
