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For years, it was the costly and bulky equipment; More
recently, the sparse investment in software because of a lack of
consumer-ready headgear.
Now, that could change.
Oculus, the VR business bought for $2 billion by Facebook Inc
last year, said this week it would start shipping a consumer
version of its Rift headset in early 2016, raising hopes that
investment in VR software will finally take off.
"I have been waiting for virtual reality since I was a little
boy 30 years ago," said Ben Schachter, an analyst at Macquarie
Securities in New York.
"Our view is that things are radically different this time."
About 2.7 million VR headsets, including versions aimed at app
and content developers, could be sold in 2015, according to
technology consultancy KZero.
With the launch of more consumer-friendly versions, total VR
sales are expected to jump to 39 million in 2018, helping
software companies alone rake in $4.6 billion - up from a
projected $129 million this year.
"We believe that many very deep-pocketed companies will be in
this space soon," Schachter said.
Sony Corp and Taiwan's HTC Corp are among the big hardware
makers planning to launch consumer headsets - HTC by the end of
2015 and Sony next year.
Oculus partnered with Samsung Electronics Co Ltd to build the
developer version of the South Korean company's mobile VR
headset, Gear VR Innovator Edition, which was released in the
United States in December. Samsung is expected to release a
consumer-version Gear VR by the end of the year.
"This is the right time for early stage investors," said Mike
Rothenberg, founder and CEO of Rothenberg Ventures, a San
Francisco venture capital firm that has invested in VR startups.
Santa Barbara, California-based WorldViz plans to release a
number of VR software apps, which can be used in industries such
as oil and gas, aerospace, education, and entertainment this
year, and expects revenue to double, founder and President Peter
Schlueer said.
"TRUE TRANSITION"
Gaming and entertainment apps are expected to drive initial
uptake of VR hardware.
But the advent of user-friendly and low-cost gear will also spur
adoption by educational institutions, the military and industry.
Ford Motor Co, for instance, uses VR headsets to help test car
designs.
Oculus has not disclosed pricing for the consumer Rift.
Co-founder Nate Mitchell has said it will be "affordable" but
pricier than the Gear VR, which costs around $200.
EON Reality, based in Irvine, California, and NextVR,
headquartered in Laguna Beach, California, are among the most
prominent software companies hoping to cash in on the VR boom.
"At the end of the day, content is going to be the most
important piece, because if that doesn't work, it doesn't matter
what type of hardware device you have," EON Reality Chief
Executive Mats Johansson said.
Mary Spio, president of Next Galaxy Corp, a Miami Beach company
whose Netflix-like platform delivers VR content, said software
makers have been waiting for proof of success of the hardware.
"I think we are going to see a slow build up of content and then
we will start to see an avalanche of content maybe a few months
after the Oculus (Rift) hits," Spio said.
"I think that 2016 really is going to be when we see that
inflection, the true transition for virtual reality."
(Editing by Sayantani Ghosh and Ted Kerr)
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