Europe is a strong and competitive hub for Virtual Reality (VR) and Augmented Reality (AR) technologies and is set to become global leader. That is the key finding of a recent study by European research firm Ecorys, which projects that by 2020 the production value of VR and AR will increase between €15 billion and €34 billion in Europe and create between 225,000 to 480,000 direct and indirect new jobs across the continent. Such a significant economic uplift would make Europe’s VR and AR market first-in-class.
Acer Starbreeze, Google, HTC VIVE, Facebook’s Oculus, Samsung, and Sony Interactive Entertainment today announced the creation of a non-profit organization of international headset manufacturers to promote the growth of the global virtual reality (VR) industry. The Global Virtual Reality Association (GVRA) will develop and share best practices for industry and foster dialogue between public and private stakeholders around the world.