$1B a reality for virtual industry - report
Making a billion dollars this year could become real-life for the virtual reality (VR) sector, predictions show.
A report by Deloitte Global which provides a 12-18 month outlook for technology, media and telecommunications, estimates sales of VR headsets could top 2.5 million, with 10 million games sold.
However, it is expected most of the spend will come from core users rather than casual gamers.
"This means that while anyone with a smartphone could try a variant of VR, the majority of VR's revenues in 2016 will likely be driven by tens of millions of users rather than billions of users," the report says.
But Deloitte New Zealand partner, Paul Brabin, believes the immersive technology will struggle in the long-term to reach the same scale as smartphones, the television or the PC.
"However, as the technology required to provide a total immersive experience improves, wider global adoption may ensue," he says.