January 18, 2016 11:18am
Investment bank Goldman Sachs says the burgeoning virtual reality industry will outpace the television market in terms of annual revenue by 2025.
In an analyst note published last week, Goldman Sachs says that in 10 years, the VR market is predicted to generate $110 billion USD, compared to the TV industry’s estimated $99 billion USD.
According to the report, VR adoption will accelerate over the course of the next few years thanks to innovations related to battery and smartphone technology, resulting in VR headsets ditching the current tethered-to-PC model donned by high-end VR headsets like the HTC Vive and Oculus Rift. Goldman Sachs says that VR headsets of the future will be independent devices that stand alone, adopting designs more similar to Samsung’s Gear VR.
Furthermore, Goldman Sachs views VR as more than just a gaming platform, and has expectations the technology will impact both the interior design and real estate industries.
In comparison, current industry market values include the $63 billion USD tablet market, $62 USD billion desktop market, $15 billion USD game console market, and $111 billion USD for the notebook market.
Related reading: Why Samsung’s Gear VR is important to the future of virtual reality