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The decision to rebrand the headset wasn’t a matter of if, but when. With PlayStation VR, Sony is making better use of its gaming brand. After all, the device will be used in conjunction with the PlayStation 4; Project Morpheus just screams “codename.”
But having a great name alone isn’t enough. Sony will be entering a ripe new market in which several major players are looking to stake their claim.
Oculus VR looks to be the frontrunner, especially now that it’s owned and financially backed by Facebook. Some with first-hand experience of HTC’s Vive VR claim it’s the device to beat, an admission that isn’t all that difficult to relate to when you consider Valve helped build it.
Samsung and perhaps Google are the next two biggest threats but they’re far from the only ones showing interest in the space. Archos, Carl Zeiss, Fove and Starbreeze Studios are just a few of the others working on VR headwear.
Just how rapidly could the market expand? Topology Research Institute estimates sales of virtual reality devices will reach 14 million units globally in 2016. By 2020, that figure is expected to climb to 38 million units.
PlayStation VR is scheduled for launch sometime next year.