VR technology has long been utilized in various kinds of simulations, from video games and vehicle simulations to theme park rides and even medical and military training programs. Today, however, consumer-level VR systems have finally broken into the mainstream market, thanks to pioneering development kits like the well-publicized Oculus Rift (released in 2013). More recent hardware releases in the likes of Sony’s PlayStation VR and HTC Vive continue to make the technology accessible to the masses.
Although consumer-level VR and AR technologies are still in their early stages, they are considered to be the greatest source of digital disruption since smartphones. In fact, VR and AR systems have been making headlines since the Oculus Rift, and the demand and market for virtual and augmented reality is only expected to grow by the billions in the next 2 years. This accelerated growth translates to a projected $150 billion combined market worth by the year 2020 and with this, the total number of active VR and AR headset users is forecast to reach up to 171 million in the coming year alone.
Beyond entertainment, virtual reality has seen success in treating mental health disorders, particularly people dealing with PTSD. Virtual rendering of traumatic memories for PTSD sufferers aid in their recovery as they go through VR therapy. Other top fields that are starting to embrace VR and AR technologies include education, journalism, retail, and the automotive and movie industries.
Expeditions, announced by Google way back in 2015, promises a virtual reality platform that is built for classroom settings. 360-degree videos are already making rounds in social media and elsewhere—a clear sign of the changing ways by which people prefer to consume content. Augmented reality apps have also been making waves, ranging from applications that allow users to change make-up, hair, and eye color to those that let people try on clothes or place household products and items for sale around their home.
Although consumer-level VR and AR technologies are still in their early stages, they are considered to be the greatest source of digital disruption since smartphones. In fact, VR and AR systems have been making headlines since the Oculus Rift, and the demand and market for virtual and augmented reality is only expected to grow by the billions in the next 2 years. This accelerated growth translates to a projected $150 billion combined market worth by the year 2020 and with this, the total number of active VR and AR headset users is forecast to reach up to 171 million in the coming year alone.
Beyond entertainment, virtual reality has seen success in treating mental health disorders, particularly people dealing with PTSD. Virtual rendering of traumatic memories for PTSD sufferers aid in their recovery as they go through VR therapy. Other top fields that are starting to embrace VR and AR technologies include education, journalism, retail, and the automotive and movie industries.
Expeditions, announced by Google way back in 2015, promises a virtual reality platform that is built for classroom settings. 360-degree videos are already making rounds in social media and elsewhere—a clear sign of the changing ways by which people prefer to consume content. Augmented reality apps have also been making waves, ranging from applications that allow users to change make-up, hair, and eye color to those that let people try on clothes or place household products and items for sale around their home.
