Recently, I was working with a client, talking about the future of Virtual reality.
“Mark, is VR just some gimmick or will it actually help me in my business?”
I’ve talked about this plenty of times before.
Gamer, Writer, Incessant Reader
In gaming, these things tend to go in 2 or 3 cycles over 2 or 3 decades to achieve success, especially when new hardware is involved.
The current VR hype cycle reminds me of consoles and online gaming: the concept went through 2 hype periods in the late 1980s/early 1990s and then again in the early 2000s, with predictions of 10s of millions of online console players by 2000. As always, it took years for the hardware to catch up with the hype; it wasn’t until the early 2010s that we started to see a mass market of console online gamers. That’s because the console makers finally bought in to the concept and started spending the huge wads of cash necessary to make it happen.
This is the 3rd time I’ve seen the “VR revolution” being hyped. There is a difference this time, however: The cost of entry is now over $1B USD, thanks to Facebook’s purchase of Oculus. Now there is real money on the table and, when you start spending big, there is a real motive to make sure you succeed big.
The jury is still out on whether there is a mass market here; no one has proved that 10s of millions of gamers actually want this yet. But I wouldn’t bet against it, simply because the stakes are so high this time around.
Works at Activetainment
The VR technology will not only survive, it’s going to boom in the next few years. A lot of time and money is being invested into making is suitable for everyone’s use. Technology companies are pouring in to be a market leader in bringing out a cheap and viable solution.
Talking from the customer point of view, I have some issues with the current technology.
Firstly it does not suit everyone. Some people (like me) feel dizzy as soon as put the VR glasses. Technology is improving and I hope soon they will have glasses suitable for me.
Secondly, the cost of the current devices is very high which restricts its sale. But the good news is that the prices are expected to go down with time.
Third, VR glasses are changing and they are becoming more and more practical to use. For example, in the earlier glasses, water vapors from sweat would condense on the glasses and cause uneasiness. Newer glasses have proper air ventilation. Many such practical problems are tried to be tackled on newer releases of the glasses.
VR Technology has great potential and is just waiting for the market to provide a viable option so that it can reach everyday use. Imagine Skyping your family members with VR Glasses on and talking to their Avatar. Riding on a VR sports bike and taking a tour of the city of your choice. Or instead of going out for a walk in a bad weather, you can choose to stand on treadmill and going out for a hike with full immersive experience, Or going to a concert from the comfort of your sofa, Or instead of whatsapping your friend, sitting with them in a virtual reality and having a hearty chat with a drink.
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We’ve seen a tremendous amount of disruptive change coming from the Virtual Reality Industry. It is surely certain that this kind of content will accelerate based on trends in the future.
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