A new report published by VR Intelligence features insight from Oculus Rift, HTC Vive, Intel, Nvidia and More
As the extended reality (XR) market matures, it appears to have reached a tipping point. Divergences in successful use cases are starting to make themselves evident, and questions have lingered around everything from consumer awareness and content availability to technology adoption, costs and ergonomics. While many of these questions are progressively being addressed and the sector is picking up momentum, VR Intelligence spoke to over 750 professionals working in and around XR to find out the state of XR today, and how the sector might evolve in the near to longer-term.The extended reality (XR) market appears to have reached a tipping point Click To Tweet
The survey finds strong evidence that XR is establishing itself quickly and strongly in supporting enterprise but still struggling to gain a major foothold for consumers: almost half (49.2%) report that growth on the consumer side was weaker than expected, as opposed to just 25.7% in the VR for enterprise segment.
Attempting to chase this growth, XR technology and content providers are shifting their focus towards providing enterprise XR solutions, with 73% of these companies saying they are working on VR for enterprise functions and just under 65% doing the same for AR/MR, as opposed to less than half working on VR consumer functions and 37.4% working on AR/MR.The survey finds strong evidence that XR is establishing itself strongly in enterprise but still struggling to gain a major foothold for consumers Click To Tweet
VR Intelligence spoke to over 750 professionals working in and around XR to find out the state of XR today, and how the sector might evolve in the near to longer-term Click To Tweet
Likewise, hardware, software and third-party content creators for extended reality (XR) are seeing much stronger enterprise growth compared to consumer sector growth over the last 12 months: almost half (49.2%) reported that growth on the consumer side was weaker than expected, as opposed to just 25.7% in the VR for enterprise segment.
One explanation of dip in XR for consumer applications may be the gaming industry; a significant source of early growth for XR, this years’ survey shows far less interest in gaming from XR technology companies: in 2018, 50% of respondents said that they intended to work within the gaming industry over the next 12 months, but this had fallen to just a third of respondents from the supply side of XR in the 2019 results. Despite this, consumer entertainment content creators in the XR space continue to find value in XR, with 75.9% of that segment reporting that VR had had a very or somewhat positive impact on their business, and 72.3% saying the same for AR/MR.93% of enterprise users said that VR had had a positive impact on their business and 88.4% said the same for AR/MR Click To Tweet
Ultimately, the gains from successfully leveraging XR are real and demonstrable. 93% of enterprise users said that VR had had a positive impact on their business and 88.4% said the same for AR/MR. And in 2019, we have seen a series of high-profile announcements from the likes of Facebook, Google, Apple, Huawei and YouTube, suggesting 2020 could be a breakthrough year for consumer XR.in 2019 we have seen a series of high-profile announcements from the likes of Facebook, Google, Apple, Huawei and YouTube, suggesting 2020 could be a breakthrough year for consumer XR Click To Tweet
To dissect more of these key trends and understand where the XR market is heading globally, VR Intelligence interviewed and surveyed over 750 XR professionals working at the sharp end of XR implementation, of whom 35% come from C-suite positions. Featuring real-world case studies and insights from HTC Vive, Oculus Rift, Intel, Nvidia and more, the XR Industry Insight Report takes a comprehensive dive into the XR landscape of today and seeks to distil what the future holds for this young but blossoming industry.
The XR Industry Insight Report includes:
- XR Growth Trends: In which areas is the industry seeing the greatest growth, and what is required for future growth?
- Immersive Technology for Enterprise in 2019: What has been the impact of enterprise XR and what are the challenges limiting further uptake?
- XR for Consumers: How has XR impacted B2C industries, why has consumer growth stalled and how can we increase consumer uptake?
- 2020: A Critical Year for XR: With a host of new products and services planned amid further development of AR and MR, will 2020 be the Year of XR?
The XR Industry Insight Report 2019-2020 was researched and produced association with VR Intelligence’s upcoming VRX Conference & Expo, taking place December 12-13, 2019, at the Hyatt Regency San Francisco Airport Hotel. Expecting more than 600 senior attendees from across gaming, entertainment, healthcare, retail, automotive industries and more, VRX is the world’s premier B2B immersive tech event for those wishing to use XR to boost ROI, propel their business forward and engage consumers through immersive, innovative experiences. More information can be found on the website.
You can also view the findings of the research in an infographic available here
Tech Trends is an official media partner of VRX 2019
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Alice Bonasio is a VR and Digital Transformation Consultant and Tech Trends’ Editor in Chief. She also regularly writes for Fast Company, Ars Technica, Quartz, Wired and others. Connect with her on LinkedIn and follow @alicebonasio on Twitter.