By George Jijiashvili
The hardware and software value of the consumer VR market will grow from $6.4bn in 2021 to $16bn in 2026.
Over at Omdia, we’ve published new research which indicates that the consumer virtual reality (VR) market will be worth $16bn by 2026, a 148% increase on 2021.
The latest outlook comes from Omdia’s Consumer VR Headset and Content Revenue Forecast 2021-2026 report, a deep dive into the VR market with individual forecasts for 30 countries. It finds that in 2021, 12.5 million headsets will be sold, while spend on VR content will reach $2bn.
Standalone VR has quickly become the dominant device category, representing 83% of consumer VR headset sales in 2021. This was largely driven by the success of Meta Quest 2, which overdelivered on its promise of an immersive, untethered VR experience at a punchy price.
Across the 30 countries in Omdia’s report, the penetration of VR headsets will stand at only 2.4 headsets per hundred households in 2021. This will grow to just 6.3 in 2026, highlighting the long road ahead for VR’s mass adoption. Nevertheless, at 70 million, actively used VR headsets are set to outnumber Xbox consoles by 2026.