VR Industry News – August 2020

The world of virtual reality continues to expand even in a post-COVID-19 world. With new technologies being created, new companies investing in the tech, and more users learning how to use VR as time progresses, there’s always something new to talk about.

In 2019, global virtual reality market size was valued at $10.32 billion USD. It’s expected to grow at a compound annual growth rate (CAGR) of 21.6% from 2020 to 2027, bringing the market size to $27.43 billion USD by 2024 and to $59.99 billion USD by 2027.

Here are some of other VR industry highlights from August 2020:

Apple has patented its own VR boundary system, which allows those in a virtual reality environment to know when they’re too close to physical objects in their space (UploadVR).

Nreal has started shipping out its first Nreal Light AR headsets to consumers in South Korea, selling at around $590 USD (Road to VR).

Mozilla has made their made-for-VR web browser Firefox Reality PC compatible with PC VR headsets (Road to VR).

Varjo, a Finnish VR and mixed reality headset startup, has received $54 million USD in Series C funding, bringing their total funds thus far to around $100 million USD (TechCrunch).

For more information on the latest VR industry news, be sure to check back here for future updates.