Virtual reality companies had raised about $630 million in funding worldwide across 120 deals in 2015, up from just $70 million and 13 deals in 2010, according to PitchBook. Facebook's $2 billion purchase of VR hardware, software, and content company Oculus in 2014 also helped fuel predictions that VR will be the next major technological breakthrough after mobile.
VR Trends 2016
Industry experts agree that 2016 will be a breakout year for virtual reality. Consumers are expected to purchase several million VR headsets in 2016.
VR Market Size
The value of the global virtual reality hardware market could be as high as $62 billion by 2025, according to investment bank Piper Jaffray. The global VR software market, meanwhile, could reach $5.4 billion by that year.
Future bets on VR
Financial services company UBS has also estimated that annual device sales will reach more than 34 million units worldwide by 2020.
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