The VR sector keeps growing despite general skepticism. According to the recent research released by The Venture Reality Fund and Belgium’s LucidWeb indeed, in Europe there are 487 companies operating in the VR industry, 300 more than those identified in the previous report.
Businesses are spread all over the continent, but some hubs are starting to emerge. The research identified 46 VR companies in U.K., 29 in France, 19 in Sweden and 15 in Germany.
The research takes into consideration companies that are making infrastructure, tools, platforms and apps and it underlines the rising investments in all sectors, except for health care and education. The gaming industry continues to dominate, but the B2B segment is starting to grow significantly as well (55% more than 2016).
The user input market continues its expansion thanks to the interaction between VR technology and the human body, particularly brain, feet and eyes. A rise connected to the $23 million investment round raised by the U.K. based Ultrahaptics.
According to Leen Segers, co-founder and CEO at LucidWeb, emerging startups operating in vertical markets have easier access to capitals, while mature companies are more likely to go public or to be bought by market giants as Facebook, Microsoft and Starbreeze.
Leen Segers will be one of the speakers at Futureland, our next international event dedicated to entrepreneurs, CEOs, startups, investors and decision makers who want to explore new trends and business opportunities related to emerging technology. Particularly, Segers will have a dedicated section on virtual reality.
As for the future, according to the IDC Worldwide Semiannual Augmented and Virtual Reality Spending Guides, the worldwide VR and AR market revenues will increase by 100% every year for the next four years. Spending on industry products and services is expected to increase from $ 11.4 billion in 2017 to nearly $ 215 billion in 2021. According to the research, the regions that will grow most will be Canada (145.2% CAGR), Central and Eastern Europe (133.5% CAGR), Western Europe (121.2% CAGR) and the United States (120.5% CAGR).