SOURCE: Parks Associates

Parks Associates

September 07, 2016 09:00 ET

Parks Associates: 8% of Millennials Plan to Buy a Virtual Reality Headset by End of the Year

Success of Pokemon Go Boosting Awareness of VR and Augmented Reality Products

DALLAS, TX--(Marketwired - Sep 7, 2016) - New connected CE research from Parks Associates reveals that 8%, or 1.5 million, millennials plan to purchase a virtual reality (VR) headset in 2016, and not surprisingly, this segment is the most familiar with augmented reality (AR) technology. Connected CE & Services: Millennials, Gen Xers, and Baby Boomers shows that 4% of millennials (heads-of-household ages 18-34) own a VR headset, compared to 2% ownership among average households.

"Millennials show more interest and knowledge than other generational groups when it comes to connected products and services, including VR and AR and apps such as Pokémon Go," said Barbara Kraus, Director of Research, Parks Associates. "Twelve percent (12%) of male millennials and 5% of female millennials intend to purchase a VR headset this year, which is more than double the purchase intention rate of their generational peers."

Eight percent of millennials show high familiarity of augmented reality, compared to 3% for Generation X and just 1% for baby boomers.

Pokémon Go has shown tremendous success in luring millennials with its augmented reality gameplay, and the app set several world records for downloads and revenues for both Android and iOS platforms. Millennials are the driving force behind the game's success, and their familiarity with this technology will continue to increase.

"Pokémon Go has introduced consumers to an AR app experience that doesn't require headgear or expensive equipment to see an alternate universe," Kraus said. "The app's success means we can expect to see a growing number of AR apps in the coming months, with millennials guiding that effort."

Connected CE, Apps, and Content Services: Millennials, Gen Xers, and Baby Boomers also notes millennials show more familiarity and interest regarding other connected CE products and services, including robotic floor vacuums, gaming consoles, streaming media players, and personal assistant devices such as the Amazon Echo. Additional data shows:

  • 95% of millennials own a smartphone, compared to 89% of those in Generation X
  • 74% of millennials own a gaming console, including 83% of male millennials
  • 41% of millennials own a streaming media player, compared to 26% of baby boomers

For more information on Connected CE, Apps, and Content Services: Millennials, Gen Xers, and Baby Boomers, contact sales@parksassociates.com. More information on other Parks Associates research is available at www.parksassociates.com. To schedule an interview with an analyst or to request specific research data, please contact Holly Sprague at hsprague@gmail.com.

About Parks Associates
Parks Associates is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates creates research capital for companies ranging from Fortune 500 to small start-ups through market reports, primary studies, consumer research, custom research, workshops, executive conferences, and annual service subscriptions.

The company's expertise includes the Internet of Things (IoT), digital media and platforms, entertainment and gaming, home networks, Internet and television services, digital health, mobile applications and services, support services, consumer apps, advanced advertising, consumer electronics, energy management, and home control systems and security.

Each year, Parks Associates hosts industry webcasts, the CONNECTIONS™ Conference Series, Smart Energy Summit: Engaging the Consumer, and Connected Health Summit: Engaging Consumers.
http://www.parksassociates.com

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