It may be the biggest market you’ve never heard of: Virtual Reality. And make no mistake, the numbers and growth trends are very real indeed.
“There’s no doubt the virtual reality market will be an explosive new medium, hitting $30.5B in the next five years,” said SuperData’s head of VR/AR strategy, Stephanie Llamas. “Like the early days of digital games—which itself will be a $95B market next year—VR needs to begin the process of measurement and validation. ”
What should investors and businesses know?
The Interactive Advertising Bureau and its Mobile Marketing and Digital Video Centers of Excellence recently released a new report “Is Virtual the New Reality?: A Market Snapshot of VR Publishing and Monetization.”
They talked with two dozen leading voices in advertising, publishing, VR software, and developer platforms to learn the key takeaways, key lessons, and future plans in the emerging VR field.
Among the questions:
- What are VR’s Strengths and Opportunities?
- What are the Weaknesses and Threats?
- How is Success Measured?
- And what do VR Experts Predict for the Next 24 Months?
We spoke with Eric John is Senior Director, Mobile and Video at IAB. He is also co-author of the new report: “Is Virtual the New Reality: A Market Snapshot of VR Publishing and Monetization.”