UK VR revenue to grow 76% - PwC

The VR market in the UK is set to undergo rapid growth in the coming years, according to the latest PwC forecasts.

According to the professional services giant, the UK VR industry will grow at a faster rate than any other entertainment and media industry between 2016-2021.

The new Global Entertainment & Media Outlook 2017-2021 report forecasts a 76% CAGR to a value of £801 million in 2021.

If this prediction is accurate, this will make the UK VR market the fastest growing VR sector in EMEA.

A large...

By Colm Hebblethwaite, 14 June 2017, 0 comments. Categories: Enterprise, Research.

US VR healthcare market grew by $450 million since 2012

The VR in healthcare market in the United States has grown from $525 million in 2012 to an estimated $976 million in 2017, according to healthcare market research firm Kalorama.

The firm estimates that the VR/AR in healthcare market will continue to grow at roughly the same pace in the US over the coming years.

“The term ‘virtual reality’ is used in different contexts,” said Emil Salazar, analyst at Kalorama and author of the report.

“Broadly, virtual reality is the means or...

By Colm Hebblethwaite, 22 May 2017, 0 comments. Categories: Hardware, Research.

VR headsets ownership higher then tablets at same stage of lifecycle

Ownership levels of VR headsets are higher than those of wearables and tablets at the same stage of their lifecycle, according to research by YouGov.

The new report, called VR: A Deeper Perspective, found that 6% of the UK population currently own a headset. At the equivalent point after commercial release, only 4% owned wearables and 3% had bought a tablet.

The data suggests that VR hardware is seeing a rapid expansion in the last year. In Q4 2016, headset penetration was 3%, meaning it had roughly doubled by Q1...

By Colm Hebblethwaite, 19 May 2017, 0 comments. Categories: Brands, Hardware, Research.

Study finds VR therapy helps reduce pain for patients

The potential for VR to transform medical training and patient care is well known at this point, with exciting new applications popping up every week. 

However, the technology could also have a startling application for patients being treated in hospital.

A new study by non-profit medical centre Cedars-Sinai has recorded results that indicate that VR therapy could have significant impact on reducing pain for hospitalised patients.

half of the patients received VR therapy that included calming videos of helicopter...

By Colm Hebblethwaite, 09 May 2017, 0 comments. Categories: Research.

Healthcare VR/AR projected to grow 73% by 2022

The healthcare sector will see a rise in adoption of VR/AR training and simulation applications in the coming years, according to Allied Market Research.

In a new report, the market research company projects growth in the global VR/AR market of 65.7% from 2016 to 2022. The market will have a value of $59,511 million.

This growth will be driven by an expansion in the gaming market, as well as enterprise functions and training will increase awareness amongst end users.

However, the report also notes that...

By Colm Hebblethwaite, 02 May 2017, 0 comments. Categories: Research.

HTC Vive announces first ‘VR for Impact’ grant recipients

HTC Vive celebrated international Earth Day by unveiling the first recipients of its $10 million VR for Impact grant.

The programme looks to provide funding to VR content and technology that drives awareness of, and create a positive in impact in support of the UN sustainable development goals.

 The chosen projects not only receive funding, but will made available on Viveport.

“We believe VR and the immersive experiences it delivers have the potential to...

By Colm Hebblethwaite, 24 April 2017, 0 comments. Categories: Developers, Research.

VR market to be worth $37 billion by 2020, says SuperData

The emerging VR market will grow by $4.9 billion this year, according to SuperData.

The growth will be driven primarily by hardware, with software beginning to bring in more revenue. SuperData estimates that the market will be worth 437.7 billion by 2020.

The company says that ‘like most new technologies and platforms, VR has had a rocky, but predicable, start’.

The report states:

“Supply constraints limited access to...

By Colm Hebblethwaite, 20 April 2017, 0 comments. Categories: Devices, Research.

Kingston University VR centre puts students at the cutting edge of games design

Kingston University has invested £53,000 to create the Centre of Augmented and Virtual Reality Environments to ensure its students are right at the forefront of the games industry.

Known by the slightly more ominous name of CAVE, the centre compliments the newly- redesigned games lab at the university’s Penrhyn Road campus.

As well as preparing students for their professional lives by giving them access to the latest equipment and tools, staff also hope to give them the opportunity for...

By Colm Hebblethwaite, 24 March 2017, 0 comments. Categories: Developers, Gaming, Research.

IDC predicts VR and AR market take off

A combination of new device launches, lower prices and an explosion of consumer and enterprise content is going to lead to fast growth in the global VR and AR markets, according to the International Data Corporation (IDC).

In its latest Worldwide Quarterly Augmented and Virtual Reality Headset Tracker, the IDC predicts that headset shipments will reach 99.4 million in 2021.

This represents growth rate of 58% over the five years from 2016.

By Colm Hebblethwaite, 21 March 2017, 1 comment. Categories: AR, Research.

First ever European VR landscape unveiled with more than 100 firms on board

(c)iStock.com/FrankRamspott

A first ever European virtual reality (VR) landscape, featuring companies that are developing infrastructure, tools/platforms and/or apps for the thriving ecosystem, has been released by Silicon Valley-based venture firm The Venture Reality Fund, with more than 100 companies making the cut.

The European VR landscape, which was created in partnership with LucidWeb, is based on extensive research and information gathered during meetings and calls with regional VR ambassadors across...

By VR 360, 10 February 2017, 0 comments. Categories: Platforms, Research.