Addressing a gathering at the Goldman Sachs Technology and Internet Conference in San Francisco today, Facebook chief operating officer Sheryl Sandberg said that turning virtual reality into a business is part of the firm's 10-year plan rather than an immediate action item.

"Her comments could be aimed at muting investor enthusiasm for the new sci-fi technology in the short term," said a Fortune report. Echoing her comments, Facebook's chief financial officer David Wehner said there is much that can be "accomplished with virtual reality" but it is still "very early days".

"It will take time to develop the ecosystem," Wehner added.According to the world's leading information technology research company Gartner Inc, the head-mounted displays (HMDs) are an emerging market and in 2016, the VR market will progress toward mainstream adoption for consumers and enterprise use.

"New virtual reality HMDs for consumers, such as the HTC Vive, Oculus Rift, Sony PlayStation VR, and Microsoft HoloLens are expected to be available along with video games and entertainment content as well as business applications critical for their success," Brian Blau, research director at Gartner said in company's report recently.