The future of VR. Prospects and potential

The future of VR. Prospects and potential

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A few years ago, practically no one could have foreseen the rapid development of virtual reality technology and the rapid growth of this industry. The active phase of development began in 2012 with the launch of fundraising by the startup Oculus. The company took on the development and creation of a modern headset for full immersion.

The company was successful after releasing an Oculus prototype at a world-renowned trade show. Leading developers of games and applications for computers supported the new development. This stage was a real breakthrough in the field of virtual reality. Well-known developers positively characterized the innovation.

Sales of the serial VR helmet started in 2015. Users around the world have been waiting for this moment. As a result, the first bunch of headsets sold out in just 14 minutes. This was a key moment of the company's success, which can be called the initial stage of rapid development and increased investment in the VR industry. From that moment on, VR can be called a "technological Klondike."

Scope of VR use

Virtual reality is a completely new field. Technologies in this area are actively improving along with content. A reliable and versatile helmet is simply useless if there is no relevant content for the user to look at and interact with. Content plays an important role and a lot of attention is paid to its creation.
Today, the key directions of BP development can be identified:

  • Games.
  • Movies.
  • Broadcasts.
  • Social networks.
  • Real estate, trade.
  • Education, medicine.
  • Industry and military-industrial complex.

Like other similar industries, VR is actively expanding into new spaces. Therefore, the list is constantly updated with new areas. We will talk about the most popular and developed industries.

GAMES

The entertainment and gaming industry for computers always follows modern trends and adopts breakthrough directions. Therefore, this VR industry is well developed today and filled with large investments. Research by Goldman Sachs has shown that the VR gaming market could reach the $ 11.6 billion mark by 2025. Well-known developers have been creating games for their respective headsets for a long time. Among such companies, we should highlight Climax, Insomniac Games, Ubisoft, 4A Games, and others.

Of course, it is currently impossible to achieve the result of the conventional games industry. However, the sphere is actively developing and attracts a lot of money, companies, smart and talented people. It is safe to say that VR technology has a bright future and rapid development.

In the field of video games, the Oculus Rift's key rivals include Sony (PlayStation VR) and HTC with Valve (Vive). Developers compete with each other and try to make users a profitable, "advanced" offer. Technical parameters and ergonomics are improving, companies are trying to achieve maximum simplicity and comfort.

Of course, the equipment differs in price:

  • The most expensive one is HTC Vive.
  • The mid-range is the Oculus Rift.
  • The most affordable are PlayStation VR.

Each headset has unique characteristics and features that make them competitive.

MOVIES

In the VR format, the film industry is actively developing, it has every chance of becoming not just a separate niche in the market, but also a full-fledged direction of art. However, the attitude towards such films is controversial - some are enthusiastic about new technologies, others are very skeptical.

Given the controversial sentiment, companies are cautiously investing in the industry. Development is carried out mainly by enthusiasts. Perhaps this is the initial stage of the formation of completely new art. It is possible that after a while this industry will become more independent and highly profitable, for example, like ordinary cinema.
You should also pay attention to the numbers because research by Goldman Sachs showed that the market for films in VR format reaches about $ 44 billion. As mentioned above, only large companies with large capital invest in this area.

BROADCASTS

One of the largest broadcasters of online VR content is Netflix. It is on its indicators that the above figures about the market volume are based. Compared to cinema, TV content made in VR format is actively spreading and gaining great popularity. In addition, this area has good prospects for monetization.

Many companies are expanding VR technology for all kinds of sports and cultural events. They make a huge contribution to the popularization of such broadcasts, both recorded and live.

SOCIAL NETWORKS

The historic deal was the purchase of Oculus VR by Mark Zuckerberg, founder of Facebook, for $ 2 billion. This is evidence that the introduction of VR into the realm of social media is simply inevitable. The developers have combined knowledge and skills to create a leading VR technology platform.

These changes were beneficial and the business of the company improved significantly. The giant's resources allowed the project to enter the commercial market and organize the production and release of the Oculus Rift headset. A contract was signed with another well-known company (Samsung) for the manufacture of helmets. At the same time, the social network is actively introducing unique technology into its own platform.

REAL ESTATE, TRADE

VR is actively used in the field of trade, sale, and purchase of real estate. It is used to conduct virtual inspections of houses and apartments, to design new buildings and designs. The moderate cost and availability of the technology have allowed realtors and retailers to implement this technology.

The well-known startup iStaging is a successful embodiment of VR. The developers have launched a unique application for modern mobile phones on the market. It enables users to capture VR video and save it to their headset. That is, you can create the most realistic presentation of the apartment. Any customer can view it, regardless of location.

The iStaging startup has become quite successful and was able to attract impressive investments - about $ 5 million. According to research by Goldman Sachs, sales of apartments and houses using VR have reached a large volume of more than $ 107 billion today and continue to grow rapidly.


EDUCATION AND MEDICINE

According to the available information, sales of educational software will be $700 million by 2025. As for medicine, here the device market will reach about $5.1 billion. Unfortunately, in most countries, active development in the field of medicine and education is impossible due to imperfect legislation and improper regulation by the state.

If we talk about the use of VR programs in education, then they are used not only in 3D modeling and in the exact sciences. Today there are many startups that are focused on history, humanities. For example, the world-famous project Woofbert allows anyone to visit museums around the world and plunge into art without leaving their city.

INDUSTRY AND MILITARY-INDUSTRIAL COMPLEX

VR technology is represented in the industry by a variety of tools for training employees, to help architects create projects. One of the most important collaborations in this area is the collaboration between Autodesk (a major software manufacturer in design, construction) and Oculus VR to develop special tools. Some startups are engaged in solutions even for companies in the oil and gas sector.

As for the military-industrial complex, the data on the market size is unknown. All information is simply classified and inaccessible to users. However, Goldman Sachs assures that the estimated US investment is over $ 9 billion.

According to statistics, 40% of the total are aircraft simulators. They are full-sized cockpits with mechanics and electronics that cannot be created with VR. If we talk about developers, then one of the most famous is Intelligent Decisions. She is engaged in the manufacture and maintenance of unique military training complexes DSTS for the US Army.


THE FUTURE OF VIRTUAL REALITY

VR can transform any existing industry - it's just a matter of time. The unique technology will change teaching, testing methods for modern gadgets and technology. For example, today astronauts are fully tested on the VR-model of the Space Station. After a while, children will be able to learn and know new things using VR helmets.

The last few years can be the most successful for the development and formation of the virtual reality industry. Lots of cool events, new product launches, massive amusement parks. Companies around the world are actively implementing VR in their fields of activity:

  • Training for employees.
  • Launch of pilot projects.
  • Demonstration of the product.

The unique technology has a strong impact on the storage and processing of information. Video is considered one of the fastest growing data types. Many companies are actively working in this direction.

The really important and exciting VR application scenario is medicine. With its help, the surgeon can reproduce its course using an artificially created model just before a complex operation. This will allow the doctor to see and get acquainted with the most realistic picture, to find out the possible consequences of certain actions. Thus, VR is able to prevent error and save human life.