The global virtual reality market is expected to reach a valuation of $62.39 billion USD by 2032 according to a recent report by Polaris Market Research. The report, there full title of which is “Virtual Reality Market Share, Size, Trends, Industry Analysis Report, By Device Type, By Offering (Hardware, Software); By Technology (Semi & Fully Immersive, Non-immersive); By Application, By Region; Segment Forecast, 2024- 2032,” outlines key growth areas in the VR industry and shows both its current status and that projected for 2032.

Takeaways & Trends

Polaris Market Research highlighted numerous segments of the greater VR industry that performed especially well today, as well as cultural and social trends that have influenced and impacted VR’s continued growth. Along with the appeal of immersive entertainment and gaming, VR is said to provide trainees and employers in a wide range of educational and corporate fields safer, more cost-effective means of instruction and work.

The VR market in its current state is dominated by headset hardware used by everyone from gamers to medical practitioners, engineers to military personnel. Gesture recognition devices and peripherals are expected to improve on their current market share as traditional controllers and input devices are rendered more or less obsolete. Non-immersive virtual content and programming is also expected to see significant growth, most notably in educational and professional settings, as virtual workstations become more commonplace.

Key players in the global VR market, as cited by Polaris, include most of the familiar names: Meta, Microsoft, PICO Immersive, Samsung, Sony etc. Regionally, Asia Pacific is on top of the market with North American following its leads in technological advancements and superior visualization standards.

VR for the Future

Pulling from an historical data period of 2019 - 2022 and presenting a forecast from 2024 - 2032, Polaris gave an evaluation of the current VR market at USD 16.05 billion and projected it would grow to USD 62.39 billion within eight years, with a forecast compound annual growth rate (CAGR) of 18.5%. These numbers, though projections that have yet to become a reality, don’t lie: VR is not only going away anytime soon, it will soon be everywhere.

After cementing itself as one of the major contributors to VR and AR hardware development, ByteDance has brought a bold new device to market with Pico 4 Ultra. With specs that rival Meta Quest 3 and an affordable price equivalent to $600 USD, it’s well worth giving Pico 4 Ultra a close look.

Pico Ultra 4 began shipping to preorder purchasers on September 2, 2024 and, though its availability is currently limited to China, the UK, and parts of Europe, it began earning plenty of acclaim from the tech media and consumers alike. Looking at the specs, it’s not hard to see why.

Inside Pico 4 Ultra

Powered by a Qualcomm Snapdragon XR2 Gen 2 platform, Pico 4 Ultra sees an improved GPU performance of 250%. Passthrough video provides 8MP image quality while IMU motion tracker works with 12 sensors to provide 6DoF tracking at 200hz. Utilizing a proprietary tracking AI this allows for tracking across 24 skeleton points with a latency of just 20 milliseconds and 98% step-accuracy.

Pico 4 Ultra features an impressive array of tracking cameras and sensors to better enable immersive AR experiences. [Image: Pico]

Quest 3 may boast a better refresh rate but Pico 4 Ultra is no slouch in that department with 90Hz and a resolution of 2160x2160 per eye. Compatible with Apple Vision Pro’s spatial videos, Pico 4 Ultra also seems geared toward not only competing against other AR systems but working with them and their users.

Quest 3 vs Pico 4 Ultra

Pitched as a toe-to-toe competitor for Quest 3, Pico 4 Ultra reportedly beats Meta’s latest when it comes to RAM, passthrough capabilities, WiFi strength, battery life and charging speed, and ergonomic design. At 580g, Pico 4 Ultra is slightly heavier than the 515g Quest 3 but not by enough to matter to all but the most seriously comfort-concerned users.

For VR Smash users, how well each of these devices work with VR and AR porn will be of chief concern. Thankfully both are winners. Pico 4 Ultra stands out for many of the same reasons Quest 3 does but its ergonomic design, excellent hand and body tracking, and a powerful display system will ensure that any VR porn fans that choose this device will be glad they did.

After the arrival of the third generation of Meta Quest devices (Meta Quest Pro, Meta Quest 3, and the expected forthcoming Meta Quest 3S), speculation has quite naturally turned to what would follow. According to The Information’s Wayne Ma and Kalley Huang, Meta aims to release two fourth-gen Quest devices by the end of 2026.

Currently, given the codenames Pismo High and Pismo Low, the pair of devices may follow on from Quest 3 and Quest 3S in that one will be a full-featured, pricier version while the other will be more affordable and feature more modest specs. A projected release timeline puts the Quest 4 family arriving roughly two years after consumers have access to Quest 3S.

Meta devotees and naysayers alike are keen to see how Quest evolves in its fourth generation. [Image: Meta]

Going Up Against Apple

Meta is also reportedly planning a successor to its underperforming Quest Pro aimed at taking on Apple Vision Pro. Where Meta received ample criticism (and corresponding weak sales) for launching Quest Pro at a lofty $1,499 USD, Apple dipped even deeper into consumers’ wallets with its Vision Pro price tag of $3,499. This could spur Meta on to create a more ambitious (and expensive) second-gen Quest Pro, one that would command more respect and attention from pro-level VR/AR users.

Should Meta hit the $2,000 mark with Quest Pro 2, it would still be more affordable than Apple’s best offering. Vision Pro has brought new modes of productivity and technical capability into the fore which Meta will be not only eager to implement in future devices but in those already on the market. This device is expected to arrive in 2027.

Apple Vision Pro may shift the pricing paradigm of high-end consumer-level VR/AR devices. [Image: Apple]

The Reality of Reality Labs

Meta Reality Labs may be the guiding force behind much of Meta’s success with its Quest line but the department is far from bulletproof. Meta is reportedly trying to cut 20% of Reality Labs’ spending due to rising operating costs and diminishing revenue. An internal reshuffling of Reality Labs may streamline the research, development, and production processes of forthcoming Quest devices and result in lower cost to the consumers.

Meta's influence continues to make waves in the VR industry, and one recent announcement in particular marks a bold step forward. On April 22, Meta revealed plans to open its Quest operating system, now dubbed Meta Horizon OS, to third-party hardware manufacturers, a move aimed at offering consumers more choices and fostering a broader ecosystem for developers.

Meta Horizon OS will move from the Quest line of headsets to a much wider hardware range in the near future. [Image: Meta]

The new hardware ecosystem signifies Meta's vision of creating a platform centered around "people and connection," leveraging core technologies to enable mixed reality features with a focus on social interaction. Partnerships with industry giants like Microsoft, Lenovo, and Asus signal Meta's ambition to extend the reach of Horizon OS beyond its own Quest lineup. Meta's innovations in inside-out tracking, as well as eye, hand, face, and body tracking, serve as foundational technologies for various mixed reality applications. By allowing external hardware developers to harness these features, Meta anticipates the emergence of innovative AR/MR devices.

Meta Team-Up Vol. 1

Meta is also teaming up with one of the largest tech giants, Microsoft, to develop a limited-edition Quest headset inspired by Xbox. This collaboration builds upon Meta and Microsoft's previous partnership in bringing Xbox's Cloud Gaming app to Meta headsets in 2023.

Is this what Meta’s forthcoming collaborative device with Xbox will look like? [Image: Meta]

Meta Horizon OS promises seamless social integration across a multitude of devices. Users of the forthcoming "Xbox-inspired" Quest will not only have access to games from their existing Xbox and Quest libraries but also be able to connect to the same multiplayer servers and social applications. Most devices leveraging Meta Horizon OS are expected to access content from various app stores, offering consumers a robust operating system and an expansive ecosystem tailored to specific needs rather than generalized mixed reality usage.

The collaboration between Microsoft and Meta aims to bring Horizon OS and an extensive game library to a new limited-edition Xbox-inspired Quest headset, demonstrating the ongoing evolution of immersive experiences in the VR space.

Guess what? Apple’s AR headset is finally here after a whole seven years of development! It’s been a while since we had a “one more thing” surprise from Apple. During the introduction of the new headset, Apple CEO Tim Cook said, “With Vision Pro, you’re not limited to a screen anymore.” Unlike previous reports about mixed reality, this system is more focused on augmented reality than virtual reality. Apple is calling this a shift to “spatial computing.”

In simple terms, it’s a new way of interacting with the computer interface, like using a mouse or trackpad. The headset looks quite similar to the earlier designs—it actually resembles ski goggles. Clearly, it’s not meant to be worn outside the comfort of your home or office.

The Technology

The Vision Pro headset is made of aluminum and has curved glass in the front. There’s a physical button for taking pictures and a digital crown for making adjustments. The back has a flexible strap, and the display extends to the wearer’s head like a visor to block out light. The sides have built-in “audio pods” to provide sound. This is the perfect opportunity for spatial audio to shine—it’s now evident why Apple has been emphasizing it so much. The system is designed to create the illusion of audio coming from different directions.

The headset runs on the standard M2 chip, paired with a new R1 chip that handles video streaming. The displays are micro-OLED, with an impressive 64 pixels packed into the same space as a regular iPhone pixel. The three-element lens is there to enhance the images from all angles. Apple also partnered with Zeiss to offer custom prescription glass inserts, so you don’t have to wear your glasses inside the headset.

There’s a cool new feature called “EyeSight,” which uses a front-facing display to show your eyes to others in the room (since the visor is opaque). This creates an “authentic representation of you” on the curved front glass. They achieve this by scanning your face initially. That image also acts as your avatar, representing you to other people using the headset.

How will it be used for AR/VR Porn?

The headset also has a built-in 3D camera, allowing users to capture “Spatial” photos and videos. This could be great for filming interactive experiences, so people can create and share their own adult content or enjoy high quality CGI Generated models thanks to the impressive 8K display resolution and partnership with Unity. Also, porn stars whispering in VR users ears has been a fan favorite and it will only get better with Apple’s spatial audio on the Vision Pro.

It’s pretty clear that we’re in the very early stages of this technology. In fact, the product was announced mainly to attract more developers to jump on board and create amazing experiences.