Prior to the release of the Oculus Rift to the retail market in 2016, two Oculus Rift development kits, DK1 and DK2, had already been released in order to encourage the development of games and content. These development kits were sold for 300 and 350 U.S. dollars respectively. Initially designed for game purposes, the Oculus Rift has also garnered interest outside of the gaming industry. By offering precise simulations of real situations, the device could be used for innovative applications in the tourism industry, the automobile industry, and the media industry to name a few.
Oculus VR was acquired by Facebook in 2014, which helped to boost consumers' awareness of the brand. Aside of Facebook, Oculus VR also has partnerships with major technology companies such as Microsoft and Samsung, placing the Oculus Rift in the spotlight of the technology industry. It is seen by many as a possible breakthrough device/application for the virtual reality and augmented reality market, which is projected to increase from 6.1 billion U.S. dollars in 2016 to 192.7 billion U.S. dollars by 2022. According to recent forecasts, shipments of virtual reality headsets are projected to grow to 68.6 million units by 2023.