The market for virtual reality (VR) technology could be a trillion-dollar industry by the year 2035, according to new research from a forward-looking analysis unit of the investment bank Citi.
Citi's report arrived the same week that Sony released the PlayStation VR, a virtual reality headset aimed at owners of its video game console. 2016 has seen other high-profile headsets released by competitors, including the Oculus Rift and the HTC Vive. Augmented reality (AR) tech, such as Microsoft HoloLens, are not far behind.
"VR/AR is now firmly on the radar as an investment theme and is expanding as an industry and we believe it will be used in a wide range of applications and in a number of different industries going forward," Kathleen Boyle, managing editor of Citi GPS (Global Perspectives & Solutions), said in the report on Thursday.