Tech Tips – Virtual Reality Changes Gaming, Movies, Education and more!

Imagine being on the field as your favorite team wins the Super Bowl. Or imagine following Neil Armstrong’s steps on the moon.  The adventure of your dreams is now available to experience in full 360-degree visual and audio simulation through the latest virtual reality (VR) technology.  VR has changed the way we interact with media. It will soon be expanding into other areas of our everyday lives.  Goldman Sachs research experts are anticipating VR to become an estimated $80 billion market by 2025. Resulting in the expansion of product offerings to industries such as real estate, healthcare, and education.

VR is not a new product on the market. However, recent advancements such as chip speed and graphics processors have driven a wide spread use of the technology.  In spite of this, VR is still not attainable for all consumers.  The price points for these products are still considered high for the average consumer, for example the Samsung Gear VR product powered by Oculus is currently priced at $99.99, however Goldman Sacks believes the economies of scale will accrue over time and prices will adjust accordingly.  Moreover, the higher prices have not deterred interest, proven by the Samsung Gear VR selling out on and in just 48 hours.

While today’s VR is primarily popular with gamers, the potential to expand the technology is nearly limitless.  Traditional media such as movies, music and television would be the obvious platforms to embrace VR, however the New York Times has recently announced NYT VR to allow readers to experience news pieces in full 360-degree emersion.  Another group intends to use the technology as a learning aid for historical events.  From virtual travel to skills training, football games to concerts, the possibilities of adapting VR are “virtually” endless.

Britney Bailey

About Britney Bailey

Marketing Account Manager, Growth by Design

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