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VR hardware market to cross $2 billion milestone with Oculus Quest driving growth

While the virtual reality headset market got off to a slow start, companies like Oculus and HTC have been working on improving accessibility since then in an effort to grow the user base. Those efforts appear to be paying off now, with 2019 VR hardware revenues on track to be 31 percent higher than in 2018. 

According to analysts at SuperData, VR hardware revenue is on track to reach $2.1 billion by the end of the year, 31 percent higher than the $1.6 billion figure achieved in 2018. When combining augmented reality and virtual reality, the market is estimated to generate $8.5 billion in 2020, although a big chunk of that will come from software, like popular AR smartphone apps.

Focusing in on VR specifically again, the Oculus Quest is the biggest driver in adoption this year. Meanwhile, North America continues to be the biggest market for both virtual reality hardware and software sales, accounting for 35 percent and 37 percent marketshare respectively.

Of course, VR should continue to grow from here as big showcase games have begun creeping in towards the end of this year, including Stormland from Insomniac Games, Boneworks from Stress Level Zero, Asgard’s Wrath from Sanzaru Games and of course, Valve has announced Half-Life: Alyx, which is due out in March.

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KitGuru Says: Have any of you picked up a VR headset this year? If not, are you planning on picking one up soon? 

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