According to a recent report conducted by ResearchAndMarkets.com, the Virtual Reality (VR) market, currently worth nearly $7B, is poised to become a $28B industry by 2030, growing at a compound annual growth rate (CAGR) of 13% over that period.

The report, titled Virtual Reality - Thematic Research, traces the VR market back to the 1950s and follows it through present day.

At several points over the last sixty-plus years, VR has been touted as the next big thing in consumer technology, without ever fulfilling its potential. Facebook's $2B acquisition of Oculus in 2014 prompted another wave of interest, with adherents, eager to forget VR's checkered past, dubbing the new generation of devices that followed in the wake of this deal VR 1.0.