In its analysis of the consumer tech market for 2016, the Consumer Technology Association (CTA) predicts that virtual reality segment is due to see the most growth in terms of revenue—and it’s not even close. The sale of 1.2 million VR units will result in $540 million in revenue (a 440 percent increase over 2015) if CTA’s analysis becomes fact. That prediction is definitely helped by the fact that the Oculus Rift (finally) launches in March. But, as was seen at CES 2016 last week, so many other options are already starting to creep into the market.
The proliferation of the technology is forcing a lot of entertainment-focused industries (sports, Hollywood, publishing companies) to rethink—or perhaps even start thinking—about how VR can and will impact them.
Hence the joint study conducted by CTA and National Association of Television Program Executives that set out to find what Hollywood’s content creators think of virtual reality and its impact on their work. The study is part of a multiyear partnership between CTA and NATPE. It included input gathered through 16 in-depth interviews, and the findings were presented during a panel at CES.