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According to Omdia research, the consumer virtual reality (VR) market will encounter a severe downturn in 2023, with sales of VR headsets falling by 24%, from 10.1 million units to 7.7 million units. A further 13% decline is expected in 2024 and 2025. Although the market has declined, it is expected to recover after 2026.
The number of active installations of global VR headsets will remain stable at 23.6 million units in 2023, and is expected to grow only slightly by 2028. VR content spending will drop to US$844 million in 2023, but is expected to gradually recover from 2024, with content revenue reaching US$2.3 billion in 2028.
Analysts blamed inflation, poor product performance, high prices and other factors for the disappointing results. The influx of new gaming hardware options in 2024 may boost VR headsets to become the first choice for gamers, but the VR industry is expected to remain sluggish in the next two years.
(Source: displaydaily Image source: freepik)
