The VR market is rapidly developing and could hit by 2020 $162 billion. Here are amazing ways to invest.
IDC Research calculates that the global VR market can expand in 2016 from $5.2 billion to more than $162 billion in 2020.
Hollywood filmmakers’ final goal has been to make audience forget that they are watching a projection on a flat screen and instead the audience should have an experience of firsthand story. For the investors and film industry alike, the virtual reality is the next era golden ticket.
Loup Ventures analyst, Gene Munster attended this month the Cannes Film Festival to discuss VR technology with some top names in film. As per Munster, VR offers Hollywood many opportunities to resist.
“Filmmakers are aware that VR can engage audience by enabling new ways,” says Munster. VR can provide a 360-degree, unique, 3D visual experience and offer the audiences the opportunity to hold viewpoint and plot advancement.
Munster says the filmmakers who are established can proceed with caution at first on VR. However, the aspiring filmmakers can continue aggressively with VR more after witnessing the way Netflix (NFLX) and Walt Disney Co.’s (DIS) Pixar have altered the movie business by embracing innovative technology.
For now, Munster says the adoption of VR will be hardware. While there are nearly 2 million high-immersion VR headsets in use, Munster says that this number will skyrocket to 146 million by 2022.
Price will be a key role in that growth. Facebook’s Oculus Rift headset and HTC’s Vive headsets may cost over $1,000, while Alphabet’s (GOOG, GOOGL)’s Daydream headset will cost around $700.
Munster says VR investors must pay attention to the gaming industry as a leading indicator to understand what to anticipate from the film industry.