We are rich in the technological age and many of the everyday devices we use are so advanced that our culture could be considered another world to our ancestors just 100 years ago. It is no surprise that with so many products being produced by the big tech companies that we are now seeing amazing things being born out of imagination. Products like drones, electric vehicles, and now virtual reality are popping up everywhere in the news.
This has us wondering what is driving all this? Is it a multi-billion dollar market driven by massive companies with massive marketing campaigns, or is it the insatiable lust for new shiny objects. We think it is probably both! Here is a recent news story about the growth of the VR market.
“You look at the companies involved, you look at the reaction of the public to the content that’s being created. That’s what’s giving me confidence,” he said. “The feeling, the buzz that people get when they see the content, the reaction, the laughter, the screams, the sense of fun that people have. And of course the companies that are getting involved. When you combine these two things you start to have a compelling case.”
The International Data Corporation predicts that worldwide revenues for the augmented reality and virtual reality (AR/VR) market will grow from $5.2 billion in 2016 to more than $162 billion in 2020. Many big media companies and networks are already investing heavily in VR tech and expertise, could they really all be wrong? Let’s have a look at some of the main criticisms:
- It’s a gimmick
- The content
- A lonely experience
- The cost
Image from (400x225_347038.jpg) euronews.com
Obviously VR will be a monster success as we progress deeper into a technology driven society. Companies like Facebook, Twitter and Microsoft are already considering VR options to deliver to there users. This means as time pushes on and advancements in tech will put virtual reality front and center into our daily lives. Business meetings, gaming, international communications, and reality TV are just a few places we can imagine seeing VR in the furture. This snippet from eweek.com talks about some of the other application we may see going forward.
Virtual realty has an unrivaled ability to immerse users in a rich, lifelike experience, both in their personal and professional lives. This technology is appealing for that very reason: It has the potential to improve user experience by transforming lackluster and intricate content into a vivid, immersive experience. What previously was thought of as a technology reserved for the most tech-savvy individuals has now evolved into a mainstream tool. We are seeing household brands from all industries flood into this untapped market, which Bank of America Merrill Lynch predicts will reach $150 billion by 2020. Consumers soon will be engulfed with new VR content and services. With such a positive forecast for the future of VR, where will most of the disruption occur? eWEEK spoke with Pieter Aarts, co-founder and CEO of roOomy, which provides an app with the same name that integrates real estate, photography and interior design, to uncover six industries that can expect to the biggest impact from VR. From health care to real estate, virtual reality is poised to make significant changes to the way we communicate with one another and experience our everyday lives.
Images from euronews.com, eweek.com
So as you can see the VR lifestyle is not just a fantasy or nightmare depending on your perspective. It is no doubt it will have great potential to enhanced many aspects of life. But what is VR being used for today? the answer is overwhelmingly gaming. Playstation VR, Oculus Rift, HTC Vive are just a few pieces of gaming hardware that are taking the industry by storm.
It is no surprise Sony is the mix, but it is a bit of a surprise to see Oculus Rift, not for the reason you may think tho, Oculus Rift is actually owned by Facebook. This means that the social media giant has some big plans going forward. They have already positioned the VR headset as the best or most popular name in the industry. Obviously video games will need to be created and advanced to make the entire experience real. But the question is how real could it be just sitting on your couch with a controller? We very real, but one company has stepped up the game with a full motion simulator compatible with Oculus Rift. Eleetus Racing Simulator is a Michigan based company that believes VR is the future of gaming/simulation. What better way could there be to simulate reality than with one of the most advanced simulators in the world combined with virtual environments. Racing simulation has just taken a huge leap forward.
The fact is technology is not a fad, and it is very likely VR will not be either. As smartphone and flat-screen TV companies continue to push boundaries we will have more and more exposure to the good, bad and everything in between.