While mobile device-reliant VR shipments—such as Samsung Gear VR and Google Daydream—dwarf today’s other VR device types, standalone devices will see a 405 percent combined annual growth rate (CAGR) through 2021, compared to a 42 percent CAGR for mobile VR. New device players, including Royole and Pico, already entered the global market, with many other Chinese manufacturers poised to expand.
With an influx of standalone VR devices incoming, a greater range of use cases will be explored, broadening the gaming-focused VR market of today. ABI Research anticipates a total market size of $64 billion by 2021.
Non-gaming software and content, VR advertising, and VR-related video revenue will together hold a significant portion of the market. VR applications in retail and marketing will therefore see a 124 percent CAGR through 2021. Video, education, and tourism are expected to see significant growth, as well, and while not forecast to be as large as the gaming market, will be notable.