Virtual Reality – The Next Frontier

In our society today, there has been a shift towards the commoditization of experiences. There is a greater desire for people to do the impossible and feel the world on their fingertips. An example of this is the viral success of Pokemon Go. People were attracted to it because of the nostalgia it brought but also because of the unique experience of being able to catch Pokemon in real life. Facebook was flooded with posts of people with Pikachus, pidgeys, and rattas. It originally had over 450 million monthly users and still has a loyal following of over 65 million active players. It is earning a lot of money as it is part of the top ten grossing applications in many areas of the world.

The Demand for AR and VR

The success of Pokemon go has opened the door for many Augmented Reality applications. But the success of PokemonGo would not have been possible without the smartphone. Smartphones used to be very expensive but now because of its accessibility, there are over 2.32 billion smartphone users in the world. These people use their applications to plan their day, to play games, and to communicate with other users. But that is not all, studies have shown that 80% customers are now demanding new consumption models for both Augmented Reality and Virtual Reality. Virtalis VR Company provide all models.

Virtual Reality Headsets Will Change the Game

In the past, Virtual Reality was merely but a dream. But with the Oculus Rift, the dream of having a virtual reality headset in one’s home seemed more attainable. It was quite expensive so only a few people could buy it. Later on, HTC, Sony, Google, and Samsung produced their own cheaper headsets which made it more attainable for the public. The investments in virtual technology have increased significantly since Facebook acquired the Oculus Rift. When Sony announced their VR headset, they experienced a 7.5% increase in stock and it quickly jumped to 30%. While HTC quickly experienced a 50% jump in stocks when they released their headset. Now, the world awaits Apple’s virtual reality headset. They believe that if Apple can come up with a cheaper and better VR headset, it will change the game for the world.

The Demand for Content

With all these investments, it is said that the demand for VR content will increase exponentially. But even right now, that demand is already starting to grow. The Venice Film Festival already has a category catering to virtual reality. The PlayStation has several games which players use to experience the world around them. But it is not limited to mere entertainment, VR is also being used to show architectural showrooms to potential buyers. Most of the games, films, and experiences that are out there today were programmed using Unreal Engine and Unity. However, these programs were originally made for programming games. There are other companies out there that are coming up with better programs that specifically cater towards virtual reality content. One of these companies is the Virtalis VR Company which has software catering towards VR experiences.

There is an opportunity for companies in virtual reality as there will be a market of consumers hungry for new experiences and for new content. The question is, “Are you ready?”