Market researcher TrendForce said Thursday that the total value of the virtual reality market, including both hardware and software, will reach US$70bn by 2020.
That would be a tenfold increase from the $6.7bn that TrendForce expects the industry to generate next year. But even that understates the market, TrendForce insists.
“These explosive growth projections actually do not sufficiently reflect just how hot the VR industry is right now,” TrendForce wearable device analyst Jason Tsai said in a statement. “The figures do not include the value of non-commercial uses of VR technology. For example, the industry is currently pushing the development of free software and do-it-yourself apps. While these projects do not immediately generate revenue for the developers, they [still] have a vital role.”
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