DUBLIN, March 16, 2016 /PRNewswire/ --
Sony Corporation shares have jumped 3.2% in Tokyo after they unveiled their new virtual-reality headset, the Playsation VR. The device will go on sale in October and is priced significantly below its rivals at $399, compared with the $600 Oculus Rift and $800 HTC Vive. According to reports, there will be more than 50 games running off Sony's system by the end of the year.
A recent report on virtual reality for consumer markets projects the combined revenue for head-mounted displays (HMDs), VR accessories, and VR content to reach $21.8 billion by 2020. The market is driven by the release of a several high-profile devices. Facebook's Oculus Rift will begin shipping on March 28, but the device requires a powerful personal computer that could cost consumers an extra $1,000. The Playstation VR device works with Sony's $350 PS4 console, which is already owned by 36 million people around the world.
The increased adoption of smartphones and tablets has created opportunities for immersive experiences in VR gaming. They offer benefits such as portability, untethered aspect, ease of use, and it also can be used as a stand-alone device. A report on the global gaming market expects the market to grow at a CAGR of 25.97%. Sony is attempting to attract these low-end smartphone-based device users by offering a cheaper alternative to the expensive premium devices.
Another report on the virtual reality market agrees that smartphone penetration will build a huge market for mobile gamers. It expects it to encourage developers to create more games, opening up opportunities for VR headset manufacturers. This will result in gamers to move from traditional gaming platforms to mobile gaming. As a result, it is predicting growth at a massive CAGR of 96.09% by 2019.
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