Virtual Reality is changing the way that we learn, work, and play. What once was a new, unrefined technology has become the forefront of technological advancement. A recent report released by ResearchAndMarkets.com projects that the growth of the virtual reality market is set to grow significantly in the next few years. A major component of the projected growth is the significant usage of smartphones in the industry.
As the usage of smartphones increases, so does the usage of virtual reality programs, applications, and associated hardware. Major virtual reality headset manufacturers create specific headsets and hardware for various smartphones in the industry, giving users a wide range of choices for high-end virtual reality devices.
Virtual reality programs and applications are the most popular among millennial users, and with millennials assuming a majority of the economy’s buying power, virtual reality profits and expansion is projected to skyrocket.
Not only is virtual reality used for entertainment purposes, such as with smartphones and gaming systems, but the technology is also used for defense applications. Virtual reality is being used for in-depth military simulations, training, and emergency response situations. The real-time simulations emulate scenarios that can’t be practiced in the real world.
As technology and applications are improved, so will the hardware that is needed to run the applications. Original virtual reality hardware was as simple as a headset that distorts digital images by using convex or concave glass. Now, high-end virtual reality headsets allow you to interact with the digital environment around you.
Production costs for virtual reality headsets and additional hardware are very low, making it easier for manufacturers to create and develop new technology.
The benchmark released from ResearchAndMarkets.com addresses a wide range of statistics involving the virtual reality industry, such as the current global revenues, projected growth, and how the market is set to change in the near future.
The report is currently available online.