Marketing intelligence firm Tractica projects the worldwide market for enterprise VR software and hardware will climb from 2018’s $1.0 billion annually to $12.6 billion in 2025. This significant growth is due to a number of factors impacting the enterprise VR landscape.
The Tractica report titled, “Virtual Reality for Enterprise and Industrial Markets”, covers global market forecasts from 2016 to 2025 on annual unit shipments and revenue for VR hardware within the enterprise sector. The report foresees top applications for training and simulation, medical therapy, location-based entertainment, and education driving enterprise VR growth.
Another factor positively impacting the market is the introduction of consumer-grade VR head-mounted displays by companies such as HTC, Oculus, Facebook, and Samsung. These consumer focused introductions raised VR’s profile, that in turn sparked public interest that included enterprise VR incorporating consumer-grade VR solutions. This resulted in the adoption of low-cost consumer VR solutions in enterprises improving efficiency and productivity.
“Even with continuing growth, market adoption of enterprise VR use cases is moving slower than previously anticipated due to market acceptance lagging behind for several use cases, said Mark Beccue, principal analyst. “Despite some retrenching in the market, however, there is momentum and accelerated activity, especially for location-based entertainment and medical therapy use cases.”
The full report details software applications related to VR, as well as HMDs and content creation tools. This data is further segmented by five major regions and five application markets including medical therapy, training and simulation, location-based entertainment, virtual prototyping/3D modeling, and education.