As the market for virtual reality (VR) grows, there will of course be increased demand for head-mounted displays and software to power it, but a report shows that other, related markets will also be affected. Specifically, there will be continued growth in demand for VR peripherals and accessories.
The report, compiled by Persistence Market Research predicts that the global market for VR accessories will grow from $9.5 billion (USD) at the end of 2017 to an estimated $31 billion by 2025.
In the report, the VR videogaming market is separated into various areas on the basis of components. The hardware areas are: Headset, VR Controller, VR Treadmill, Gaming suit and VR PC Backpack. Platform areas are divided into Console, Pc and Mobile.
The report predicts that the Asia Pacific region is going to be the most attractive area for the glorbal VR accessories market over the forecast period, with the APAC area expected to reach a market valuation of $14 billion by the end of 2025. North America is expected to be the next largest market, with revenues of $8 billion anticipated by the end of 2025.
The headset market is predicted to be the largest area, with market value expected to reach $12 billion globally by end of 2025, with the Smartphone/Mobile VR sector predicted to lead the market for the forecast period, though PC and console VR is anticipated to make significant gains.
The report also predicts that online stores are likely to be the channel by which most users will buy VR devices, peripherals and accessories.
VRFocus will continue to report on developments in the VR market.