In the year 2019, the virtual reality experienced significant growth. VR technology can change our lives for good in how we work and how we socialize. Virtual reality is an immersive computer-made world to cool innovations such as Ready Player One that offers a real-world view. Besides, advances in VR are fascinating. In 2016, the world witnessed more than 85% of mobile-based headsets, with the popular ones being Samsung Gear VR and Google Daydream.
VR technology has gained worldwide recognition after the adoption of this technology in previous years. Therefore, many players are trying to navigate VR toward mainstream adoption. With the coming of commercial VR headsets, market growth will accelerate, and investments by giants such as Google might create advancement in the display technology field. With the increase of investments in development and research by major players, the market will be competitive in the coming years.
Virtual reality trends
VR is not a standalone technology for developing an alternate world, but it can create a real life. VR is an immersive technology, applicable in wearable headsets that create 360 degrees simulations. Besides, the coming trends for virtual reality will change the business dynamics.
Virtual reality and artificial intelligence enhancement
The virtual reality trends are not complete without the mention of artificial intelligence. The two technologies have the potential to change the world. The two technologies are still in their formative stages, having made few appearances. For example, features that top Snapchat and Instagram are a mix of VR and artificial intelligence.
Education and Training
The cost of training and education keeps on increasing year in year out. However, with virtual reality, companies will be able to reduce the cost and offer employees the best training without exposing them to any risk.
Travel and tourism
VR is now enabling users to travel the world virtually and explores natural and human-made features within the comfort of their homes. By watching an immersive video, you may travel to your favorite destinations without packing your belongings. It offers users a sort of like try it before you buy.
Active players in the market
Eighty-nine million virtual reality headsets were sold in 2016, and 98% of this accounts for mobile-based VR headset. Besides, Google Cardboard accounts for the majority of the market since its price is relatively cheaper. The following are the major players in this market.
Oculus
Oculus Rift is the popular VR system we have. During the first sale in the year 2012, a whopping 355,000 pieces got sold. In the year 2014, Facebook acquired the company. The objective of the headset is to offer the best gaming experience. Currently, the company is focusing on the business use case.
Google Daydream VR
Google cardboard accounts for the lion’s share of virtual reality devices at 84 million as of 2016. Has the name says this virtual reality device was from using cardboard and launched as an experiment to allow people to experience VR.
Samsung Gear VR
In collaboration with Oculus, Samsung developed Samsung Gear VR in 2014, the month of September. The objective is to develop consumer-oriented systems that are wireless, lightweight, and powered by Samsung smartphones. Samsung earned $2 million from the sale of this device alone.
Sony PlayStation VR
It is the combination of a VR headset with the PlayStation gaming hardware. In the year 2019, about 4.2 million PlayStation virtual reality headsets got sold.
Future of virtual reality
VR has a significant impact on day-to-day lives soon. With key players entering this market, the growth of VR accelerates faster than expected.
- Mixed reality, augmented reality, and virtual reality will reach $150 billion by the year 2020
- Standalone headsets have the potential to be mainstream VR devises
- Headsets will have sunglasses design.
- Interactivity with VR will be part of smart wearables.
