VR/AR equipment market will reach US$9.9 billion

The latest forecast released by technology research company CCS Insight shows that in the next five years, the average annual growth rate of global virtual reality and augmented reality headsets will be approximately 50%. By 2022, total sales may reach 121 million units, with a total value of approximately US$9.9 billion.

George Jijiashvil, senior analyst for wearables at CCS Insight, said: “Looking at the data from the past few years, the main source of sales growth currently is VR headsets, and we expect this trend to continue, especially for smartphones. VR headsets. We expect standalone headsets like the Oculus Go and HTC Vive Focus will also trigger a new wave of growth, which will help broaden the appeal of virtual reality, especially in the enterprise and education sectors."

Gaming remains the main driver of VR device sales, and this is unlikely to change in the coming years. CCS Insight's consumer survey shows that among users who own dedicated VR headsets such as Oculus Rift, HTC Vive or Sony PlayStation VR, nearly 70% users have purchased the game for themselves, and more than half of smartphone VR headset users Bought the game for myself.

Jijiashvil noted: “More and more exciting new features are being developed. In our latest consumer survey, we see virtual reality enabling further advancements in virtual tours, remote participation in concerts, and virtual social interactions. Applications. Watching videos in virtual reality is also becoming more and more popular, especially on smartphones.”

AR smart glasses also play an important role in CCS Insight’s predictions. As Jijiashvil said: “Given that augmented reality is one of the hottest new areas of technology in smartphones, it’s no surprise that people are interested in augmented reality glasses. Investing in this technology over the past 12 months has billion dollars, and we are also seeing significant improvements in size, weight and design of smart glasses."

However, CCS Insight's forecast shows that commercial adoption of smart glasses has been disappointingly low to date. CCS Insight estimates that only 24,000 smart glasses were purchased in 2017. Jijiashvil commented: "The potential of this technology is obvious, but so far, most companies are still evaluating how smart glasses technology can better integrate with their business."

CCS Insight predicts that in the next few years, companies will shift from limited trials to broader commercial deployment, and by 2022, sales of smart glasses will reach 1 million units, which is a milestone number.

CCS Insight expects consumer smart glasses to develop differently than enterprise-focused products. The research firm believes consumer demand for smart glasses may be similar to other new smart products. Jijiashvil pointed out, “The development prospects of consumer smart glasses technology are very optimistic. Products such as Intel’s launch of Vaunt glasses that are different from standard glasses are a clear signal that smart glasses will enter the consumer market. Once a big company like Apple enters the market, we will We could see millions of smart glasses appearing on the market immediately.”

CCS Insight’s latest forecast reflects a positive outlook for consumer smart glasses, with sales expected to reach 4.5 million units in 2022.