BOULDER, Colo.–(BUSINESS WIRE)–Leveraging customized and expensive equipment, enterprise virtual
reality (VR) has been in use for a number of years for military
training, civil flight training, and industrial 3D modeling. But now
cheaper, mass-produced consumer-grade VR is coming to market, a trend
that will have significant ramifications for the enterprise sector.
According to a new report from Tractica,
the enterprise market for VR hardware and content will increase from
$592.3 million in 2016 to $9.2 billion worldwide by 2021. The market
intelligence firm forecasts that training, simulation, and education
applications will be the key drivers of this growth, but enterprise VR
content categories will also include virtual prototyping and 3D
modeling, public entertainment attractions, and medical therapy.
“Cheaper, more readily accessible consumer-grade VR equipment is opening
up new enterprise use cases, some of which have vast addressable
markets,” says principal analyst Mark Beccue.
Beccue adds that a broad range of industry players, both new and
established, are aggressively working to develop applications leveraging
this new consumer-grade VR ecosystem, aiming squarely at the enterprise
Tractica’s report, “Virtual
Reality for Enterprise and Industrial Markets”, provides global
market forecasts for the period from 2014 through 2021 for annual unit
shipments and associated revenues for VR hardware and content in the
enterprise and industrial sectors. The analysis covers HMDs, along with
other VR equipment such as motion capture cameras, displays and
projectors, and hand tracking devices, as well as software applications
and content creation tools. The report also includes in-depth profiles
of 22 key industry players in the enterprise VR market. An Executive
Summary of the report is available for free download on the firm’s website.
Tractica is a market intelligence firm that focuses on human interaction
with technology. Tractica’s global market research and consulting
services combine qualitative and quantitative research methodologies to
provide a comprehensive view of the emerging market opportunities
surrounding Artificial Intelligence, Robotics, User Interface
Technologies, Wearable Devices, and Digital Health. For more
information, visit www.tractica.com
or call +1.303.248.3000.