Virtual reality technology has failed to capture the imagination or interest of American teenagers, according to a new survey by investment bank Piper Sandler.
The survey found that only 29% of the 5,600 US teens surveyed own a VR-enabled device, and only 4% said they use it on a daily basis.
Only 7% said they plan to buy a VR helmet in the future. A whopping 52 percent of respondents said they weren’t sure or interested, an important figure given that Apple is rumored to release its own headphones later this year. In other words, VR just doesn’t resonate with teenagers who traditionally push new gadgets like smartphones or portable music players.
These results paint a bleak picture of the technology’s future. While companies, notably the revamped Facebook Meta, have poured billions of dollars into virtual reality, the industry remains shaky.
Last November, Meta laid off 11,000 employees, including some of its VR Reality Labs employees. Earlier this year, Disney closed its entire Metaverse division, and Microsoft closed a virtual reality social platform it bought in 2017.
Even the top-selling Meta Quest 2 headset, released back in 2020, has seen a decline in sales.
In other words, the fact that the technology is not popular among teenagers is another nail in the VR coffin.
Piper Sandler wrote in her review: “For us, moderate usage suggests that VR is still in its ‘early stage’ and that these devices are not as important as smartphones.”
Whether the upcoming next-generation Meta VR headset or Apple’s own offering can breathe new life into a struggling industry is an open question, but we won’t hold our breath.
Post time: Apr-10-2023