According to Omdia’s consumer VR headset and content revenue forecast for 2022-2027, consumer virtual reality will be worth $2.9 billion in 2022 and will increase to $20 billion in 2027. Omdia foresees that 12.5 million headsets will be sold in 2022, and $1.6 billion will be spent on VR content.
Meta’s Quest remains the biggest VR ecosystem in the world with 20 million Meta Quest sales projected by the end of 2022. With 76% of headset sales in 2022, Meta dominates the market. Despite that, mass adoption of VR remains a distant possibility. Only 72 million headsets are predicted to be in use by consumers in 2027.
George Jijiashvili, Principal Analyst in Omdia’s Games team commented,
“Having surmounted core hardware issues, VR is faced with the much bigger challenge of content. Engagement with existing headsets is patchy due to the limited flow of truly compelling VR experiences, hindering Meta’s goal of building a self-sustaining VR ecosystem.”
Almost 90% of VR content is generated by games, and they are the main reason people buy VR headsets.
According to Omdia’s report, 3.6 million PSVR2 headsets will be sold in two years after its launch in 2023. That is about 7% of PS5 owners.
Omdia, part of Informa Tech, is a technology research and advisory group. Its full report on this can be found here.