The following is an excerpt from Travis Hoium | July 9, 2018 | ibtimes.com |
Virtual reality is still in its infancy, but the companies who can capture a significant share of the market could become leaders in the next major computing market. According to SuperData Research, VR is going to grow from a $4.5 billion business in 2018 to $19.0 billion of revenue by 2021. Early movers see the opportunity in VR and are eager to capture market share.
This article originally appeared in The Motley Fool.
As big as the VR market is expected to be, there are only a few companies in a viable position to build a platform the industry will grow from for years to come. So far, it's Sony's (NYSE:SNE) PlayStation VR that has a big head start in virtual reality, with over 2 million units sold. But HTC's Vive and Facebook's (NASDAQ:FB) Oculus Rift are trying to catch up quickly.
What could reshape the VR landscape in 2018 is Facebook untethering itself from PCs and gaming consoles to make VR mobile. Here's why I think Facebook can take a leadership position in this booming market.
Why Facebook is behind Sony in VR today
To understand why Facebook is behind in VR and how it could catch up, we need to lay out the VR landscape today. Sony has sold over 2 million PSVR headsets, more than doubling both HTC's Vive and Oculus Rift platforms, which both are arguably higher-quality products. The biggest advantage Sony has in VR is that 76 million PS4 consoles are already installed in people's homes, so adding VR isn't expensive or cumbersome. Vive and Rift still require expensive gaming computers that aren't floating around the average home.
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