Virtual reality market to bloom

old-school-tvWhile virtual reality (VR) has been around for some two decades, it’s only recently began to take off.

And that will soon create really serious money, according to market research firm Trendforce.

In a report, it said the total value of VR – including hardware and software – will be worth $70 billion in 2020. Next year it will only be worth $6.7 billion.

The reason, according to Jason Tsai, a Trendforce analyst, is because people continue to seek more audiovisual experiences.

He said that outfits like Facebook and YouTube will provide software tools and support services to make VR videos/

He said the development of VR is not necessarily based on wearable devices made by the likes of Sony. He said much of the growth will come from independent vendors.