Wonder

Research Outline

Prepared for Maxwell | Delivered April 16, 2020

VR Total Addressable Market

Goals

To gather data on VR headset usage, including headsets sold and growth, in order to understand the total VR addressable market.

Early Findings

The size of the global AR/VR market is 18.8 billion USD and is expected to grow rapidly in the coming years.
Oculus Quest accounted for about a half of the global VR sales in 2019. In Q4 2019, 317,000 headsets were sold.
Information on total sales is available for each headset, but data on active users is scarce.
In Q4 2019, 71,000 Oculus Rift headsets have been sold.
In total, 1.3 million HTC Vive headsets were sold. This headset, as well as the Vive Pro series, have been recently discontinued and replaced with the new Vive Pro Eye.
In Q4 2019, 103,000 Valve Index headsets were sold.
In Q4 2019, 338,000 PlayStation VR headsets were sold.
On Steam, 1 million VR headsets are connected monthly.
VR headsets are used for only 6.2 hours on average monthly, with 12% of users using headsets for over 16 hours monthly, 65% using headsets less than 5 hours per month.
In terms of sales increases since summer 2019, this data is available: Oculus Quest sold 180,000 headsets in Q3 2019, compared to 317,000 headsets in Q4 2019. Valve's headset sales doubled in Q4 2019 compared to Q3 2019.
In 2018, there were 171 million active headset users, according to Statista.
The overall impression is that the VR market is growing, despite low usage (consumers aren't using VR devices very often).