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Report: Only 11 Percent of Western Consumers Interested in VR Products

VR products are quickly piling up, but it’s unlikely to be everyone’s cup of tea. There aren’t too many dedicated applications and games for VR products at the moment, and of course the biggest issue is their pricing.

According to reports from intelligence firm Newzoo, the western market doesn’t have a huge amount of folks interested in owning a VR product any time soon. Their survey suggests that 11 percent of people with an internet connection, between the age of 10 and 65, are considering buying a VR product.

Among those, competitive e-sports players are the ones most interested. They comprise of 63 percent of all people who wish to get something top-of-the-line like Oculus Rift, or even the slightly cheaper Samsung Galaxy VR.

This does suggest that there’s a minor early demand for VR products, but companies like SuperData Research and Tech Adviser believe that virtual reality business will only see an increased growth towards the later stages of this decade, and will have an estimate worth of between $30 billion to $40 billion by 2020.

Newzoo’s founder and CEO Peter Warman believes that despite high popularity of VR products among gamers, its actually revenues will come from hardware and non-gaming services during the early months.

This doesn’t fray from observation, as actual games for virtual reality headsets are small in number, and their development is at relative infancy when compared to the conventional gaming market.

Newzoo’s research has found that most people are holding off on VR purchase because of these reasons. 89 percent have no interested in VR products, no knowledge, or are undecided in buying any virtual reality headset.

The research organization also believes that HTC and Oculus have the best luck selling their high-end VR headsets to gamers who spend a lot on hardware.

Via VentureBeat