According to Fortune Business Insights, the VR market was valued at $19.44 billion in 2022. It is projected to grow to $25.11 billion in 2023 and reach a staggering $165.91 billion by 2030.
These figures are a clear testament to the potential of virtual reality technology.
To not miss out on important information about virtual reality, let’s explore VR and its applications in various life sectors with Var Meta.
Key Takeaways
- Growth of the VR Market: The VR market is rapidly expanding, with its value projected to increase from $19.44 billion in 2022 to $165.91 billion by 2030.
- Definition and Capabilities of VR: VR is a technology that creates a virtual world where users can interact with a virtual environment using VR headsets. It enables the exploration of new worlds and experiences that are hard to replicate in the real world.
- Historical Development of VR: The concept of VR dates back to the 1930s and 1950s, with significant early contributions from science fiction and filmmakers. The Sensorama, developed by Morton Heilig, was an early form of VR technology.
- Classifications of VR: VR is classified into various types, including non-immersive, fully immersive, semi-immersive, and collaborative VR, each offering different levels of immersion and interaction.
- Applications of VR in Various Sectors: VR is not limited to gaming; it has transformative applications in healthcare, education, military training, the automotive industry, and retail. For example, it allows surgeons to practice procedures via simulation and provides immersive educational experiences.
- Technology Behind VR: VR technology works through a combination of devices (headsets, headphones), 3D displays, head and motion tracking, and integrated audio. It requires a computer or smartphone to process and transmit data to the VR device.
- The Future Potential of VR: The evolution of VR devices is shifting towards mobile integration. VR is impacting business models by enhancing collaboration, training, design, and customer experiences. The VR market for prototyping and retail applications is growing rapidly.
- VR in Retail and Marketing: VR is revolutionizing retail by allowing customers to experience products in a virtual environment, and travel companies use VR for dynamic marketing.
1/ What is Virtual Reality Technology?
Virtual Reality (VR) is a technology that uses specialized software to create a virtual world.
Users wear VR headsets and can interact with objects in this virtual environment.
It allows users to explore new worlds that are difficult to experience in reality.
VR is not just for gaming but is also transforming sectors like healthcare and education.
Surgeons can practice complex procedures through simulations, and students can go on interactive historical explorations.
2/ Origin of Virtual Reality
The roots of virtual reality technology can be traced back to the imaginative ideas of writers and filmmakers. They aimed to improve their works by crafting a virtual world.
In 1935, Stanley Weinbaum, an American science fiction writer, wrote a short story called “Pygmalion’s Spectacles” that described a virtual reality-like model.
The story featured a main character who used protective goggles to enter a fictional world and experience it with all his senses. This story predicted a future with the concept of virtual reality.
In 1956, filmmaker Morton Heilig made a significant contribution to the development of VR technology. He created the Sensorama, which was patented in 1962.
The Sensorama was a large simulated device that combined various technologies, such as full-color 3D video, sound, vibration, odor, and atmospheric effects like wind.
Heilig’s goal was to create an immersive experience where the audience could not only watch a film but also actively participate in and feel the environment within the film.
Another influential figure in the development of virtual reality is Jaron Lanier. He was one of the first individuals to define the term “virtual reality” and made contributions to the development of VR devices and applications in the 1980s and 1990s.
3/ Classification of Virtual Reality Technology
Virtual reality is divided into five types, according to certain sources.
Mixed reality (MR) is often seen as a distinct technology, but it still relies on VR glasses for its operation. Hence, it is also considered a form of virtual reality.
3.1/ Non-immersive Virtual Reality
Non-immersive Virtual Reality (VR) enables users to experience a virtual environment on a computer without complete immersion.
It involves vibrant visuals and sound, offering a reasonably engaging virtual experience.
Users interact with the virtual environment through a computer screen, controlling it with a keyboard or mouse.
However, the environment does not directly respond to the user’s actions.
3.2/ Fully Immersive Virtual Reality
Fully Immersive Virtual Reality, also known as Fully Immersive VR, is a type of virtual experience that completely surrounds users in a virtual environment, making them feel as if they are actually there in that digital world.
This represents the highest point of virtual reality, where various technologies combine seamlessly to create an immersive experience.
To fully experience a virtual reality (VR) environment, users must use supporting devices like VR headsets, headphones, or body-connected sensors.
In this mode, users have the ability to do multiple actions like moving, running, jumping, bending, shooting, throwing, and participating in various other activities within the virtual environment.
3.3/ Semi-Immersive VR
Semi-Immersive Virtual Reality, also known as Semi-Immersive VR, is a form of virtual reality that provides users with a partially immersive experience in a virtual environment through the use of computer screens, headphones, and VR headsets.
Semi-Immersive VR, like non-immersive VR, emphasizes the 3D visual elements of virtual reality, but it falls short of creating a completely immersive and all-encompassing environment.
Semi-Immersive VR falls short of fully transporting users into the virtual environment, unlike Fully Immersive VR.
Users remain cognizant of their physical surroundings and do not engage with the virtual environment.
Semi-Immersive VR is commonly used in industries such as aviation training, education, and entertainment.
For instance, in pilot training simulations, aspiring pilots can simulate flight scenarios without the necessity of physical takeoff.
3.4/ Collaborative Virtual Reality
Collaborative virtual reality allows users in different locations to interact and collaborate in a shared virtual environment.
In this model, every user is represented by a 3D character and can interact with each other through devices such as microphones and headphones.
Collaborative VR allows users from different locations to meet and work together in a virtual space.
This technology is utilized in education and training, enabling the establishment of virtual classrooms and interactive training sessions remotely.
Multiplayer games often utilize collaborative VR, allowing users to interact with other players in a virtual world.
3.5/ Augmented Reality
Augmented Reality (AR) and Virtual Reality (VR) are often seen as separate fields, despite their shared goal of creating virtual experiences.
AR does not generate its own virtual environment. Rather, it enhances the real world by adding virtual information to the physical world.
Users can view the real world through devices like mobile phones or AR glasses, thanks to Augmented Reality, which displays and integrates virtual information into the proper environment.
Augmented Reality finds application in various fields, from entertainment and shopping to education and healthcare.
For example, if you are buying a table but are unsure if it will fit in your room, you can use a mobile app with Augmented Reality. Through your phone, you can see how the table would look in your room space.
3.6/ Mixed Reality
Mixed Reality, also known as MR, is the integration of Virtual Reality (VR) and Augmented Reality (AR) that brings together the real and virtual worlds in a unified environment.
Mixed Reality enables users to engage in an interactive experience where they can interact with virtual elements in the real world and vice versa.
With Mixed Reality, users can engage with both the physical world and virtual elements at the same time.
4/ How Virtual Reality Technology Works
Virtual Reality technology functions by generating a completely immersive virtual world in which users can engage by utilizing devices and sensors.
For VR technology to work, there are a few crucial necessary components.
- VR Devices: These are a crucial part of VR technology, including VR headsets, VR headphones, and other peripherals. Users wear these devices on their heads to cover their eyes and ears, creating a closed-off environment that blocks out the outside world.
- 3D Display: Typically, VR devices are equipped with top-notch 3D displays, with one dedicated to each eye of the user. These screens create three-dimensional images that give a feeling of depth and visual immersion in the virtual world.
- Head Tracking: VR devices often feature sensors known as head tracking, allowing them to monitor the U’s head movements. As the user turns their head, the virtual environment dynamically adjusts to create an immersive and realistic experience of perspective and orientation.
- Motion Tracking: Motion sensors are utilized in VR devices to track body movements and interactive peripherals such as controllers.
- Computers and Smartphones: VR devices usually need a computer or smartphone to handle data and create 3D visuals. The VR device receives image data from the computer or smartphone via wired or wireless connections.
- VR Content or Applications: To have a VR experience, users must have access to VR-specific content or applications. It could be a virtual reality game, educational app, simulation software, or any VR-compatible application.
- Integrated Audio: Audio is frequently used in Virtual Reality to enrich the immersive experience. Combining realistic sound with 3D visuals enhances the immersive experience of a virtual environment.
When all these components combine, users experience a sense of being immersed in a new world, where they can engage with the surroundings and manipulate objects.
Motion tracking sensors control the viewpoint, while motion sensors enable precise reactions based on the user’s movements.
5/ The Potential of Virtual Reality in the Future
5.1/ The Evolution of VR Devices
The progress of VR application development is encountering various obstacles, and one of the major hurdles is the dependence on VR devices and associated hardware.
Developers are focusing on integrating VR features into mobile apps to improve accessibility, utilizing the hardware and smart chips found in these devices.
Allied Market Research predicts that the AR/VR chip market will experience a CAGR of 23.3% between 2019 and 2026.
5.2/ The impact of VR on businesses.
Virtual reality technology is starting to have an impact on businesses and office structures.
Virtual technologies offer the potential to enhance collaboration, multitasking, idea sharing, and conducting meetings, regardless of physical distances.
Virtual Reality technology can generate a virtual version of your office, offering a sense of familiarity for employees who are unable to physically be at work.
5.3/ Continuous Development
VR can replicate dangerous and demanding work scenarios in authentic settings.
One use case is practicing surgical procedures without live patients or training in heavy machinery operations.
Simulated real-life scenarios in VR technology can also be used to train individuals in soft skills related to risk management.
Virtual Reality is combined with technologies such as Artificial Intelligence and Machine Learning to enable numerous advancements.
5.4/ Faster Design and Prototyping
VR technology speeds up the process of designing and prototyping. Rather than creating tangible models, designers utilize 3D models in a virtual reality environment to visualize and assess their concepts at a realistic size.
The collaboration between virtual reality technology and 3D printing has greatly enhanced the speed of prototyping in different industries.
Scnsoft reported that the market value for virtual reality prototyping was around $210.4 million in 2017. The growth is projected to maintain a Compound Annual Growth Rate (CAGR) of 19.4% until the year 2025.
5.5/ The Development of Virtual Reality Stores
E-commerce platforms are using virtual reality technology to offer a more realistic shopping experience.
Shoppers have the ability to enter the store using virtual reality headsets, explore digital aisles, engage with merchandise and employees, and customize products before completing a transaction.
AI sales assistants are capable of offering product suggestions that align with customer preferences and budgets.
The sale of more than 10.8 million VR devices in 2022 highlights the immense potential for the growth of virtual reality stores.
5.6/ More Dynamic Travel Marketing
To attract more bookings, travel companies are now integrating virtual reality (VR) technology into their marketing strategies.
Before making reservations, customers have the opportunity to preview destinations through virtual reality experiences, which can simulate activities like a relaxing beach walk or a luxurious resort experience.
6/ Applications of Virtual Reality in life
6.1/ Entertainment
Virtual Reality (VR) gaming is now a familiar concept to most people. It provides a unique and captivating experience, where users can fully immerse themselves and express their emotions without any limitations.
Beat Saber is a distinct virtual reality game that blends music and physical movement. In this game, players wield two lightsabers to strike and cut through square blocks in synchronization with the music.
Beat Saber offers a thrilling and immersive experience that combines physical activity with non-violent gameplay. Instead of slicing fruits like in mobile games, players slice square blocks.
The game provides multiple gameplay scenarios, each with its unique main soundtrack. The speed of the music determines how challenging the game is, as slower beats result in slower block movements, while faster beats lead to faster block movements.
6.2/ Healthcare
Virtual reality technology replicates the human body, enabling doctors to immerse themselves in real-world scenarios, practice intricate surgeries, and conduct in-depth research on diseases.
Doctors have the option to utilize realistic human body simulations for practicing medical exams, performing surgeries, or conducting research on different medical conditions.
Additionally, Virtual Reality has the potential to assist in the care and assistance of patients throughout their healthcare experience.
St. Jude Research Hospital, for instance, has employed Ease VRx, a Virtual Reality platform that combines protective goggles and headphones, to generate an immersive 3D setting as a substitute for opioid painkillers.
This solution provides a range of programs, such as role-playing and relaxation environments, to alleviate discomfort.
Six months later, the hospital observed a 50% decrease in pain levels among patients.
This also results in significant cost savings, as they no longer have to spend $200,000 per month on pain medication.
6.3/ Military
Virtual reality technology can recreate military training exercises and even simulate historical wars. Soldiers can improve their combat skills without the physical and emotional toll by directly participating in training scenarios.
The United States military has developed Virtual Battlespace 3 (VBS3), a virtual combat simulation that plays a vital role in training soldiers and creating realistic scenarios.
VBS3 provides virtual scenarios and combat simulations that enable soldiers to concentrate on their responses, choices, and engagements in demanding situations.
6.4/ Automobile
The automotive manufacturing industry is embracing the use of VR technology as a new approach.
Automotive companies can utilize VR technology to enable users to preview vehicle designs before manufacturing.
Users can provide feedback and make adjustments to ensure the testing phase produces the best car models.
Volvo uses VR technology to provide customers with virtual test-driving experiences. Customers can choose to wear VR headsets and experience test-driving new Volvo models in a simulated environment, providing them with a lifelike experience without the need to actually drive a car.
The campaign has achieved great success, creating positive engagement with customers and increasing brand recognition for Volvo.
6.5/ Education
Virtual reality technology offers numerous practical advantages. Educators can effortlessly impart knowledge to students, and learners can easily understand the lesson material.
It is particularly valuable as a tool that enhances learning not just in classrooms but also in daily life for individuals of all ages.
Virtual reality technology in education enables students to discover historical architectural landmarks or fully immerse themselves in past events.
For instance, students can design their own 3D virtual environments using tools such as CoSpaces. Additionally, this presents a great chance to introduce coding and programming skills.
CoSpaces is an excellent platform for enhancing computational and coding abilities, fostering creativity in educational settings, and seamlessly integrating with virtual reality technology.
6.6/ Exploration
VR technology is recognized as an innovative technology in contemporary advancements, possessing remarkable advantages and distinct qualities.
NASA laboratories have utilized it to replicate space exploration procedures, aiding scientists in their examination of galaxies, planets, and constellations.
Marc Kuchner, an astronomer, and Susan Higashio, a researcher from the Goddard Space Flight Center, have used a virtual reality program called PointCloudsVR, developed by Matthew Brandt, to gather data and gain fresh insights into star motion.
By utilizing collected data, this 3D simulation assists in categorizing groups of stars, offering valuable insights into the characteristics of stars in the universe.
This technology has greatly contributed to astronomical research by improving our understanding of the structure of the Milky Way galaxy and the development of star systems.
It has provided fresh perspectives on how stars are formed and structured.
6.7/ Retail
The popularity of online shopping is growing rapidly, but certain areas require improvement.
Customers are limited to viewing the images provided by the sellers and are unable to physically test products, which adds complexity to the purchasing process.
By utilizing virtual reality (VR) technology, individuals have the ability to immerse themselves in a digital environment where they can visualize how different clothing items or products would look on them, empowering them to make well-informed choices.
IKEA’s use of virtual reality in its retail sector is exemplified by its prominent virtual showrooms.
Customers can engage with products in these VR showrooms, experiencing them realistically and engagingly, which helps them make informed purchase decisions.
Customers have the opportunity to quickly explore a wide range of products and space configurations, allowing them to find the ideal solutions for their needs.
Conclusion
Virtual Reality (VR) is leading the way in technological advancements, breaking traditional limits and providing extraordinary immersive experiences.
As we have discovered, virtual reality goes beyond just entertainment and has a significant impact on industries such as healthcare, education, military, and retail, showcasing its versatility and transformative capabilities.
At Var Meta, we understand the limitless possibilities of virtual reality and are dedicated to leveraging its capabilities to transform your business operations and customer engagements.
Are you prepared to start an immersive journey with virtual reality? Get in touch with Var Meta today to discover how virtual reality can revolutionize your business strategy and create new possibilities for growth and innovation.
FAQs
What are the specific advantages of VR technology for my industry?
Virtual Reality can provide innovative solutions in different sectors due to its flexibility.
Virtual reality can be customized to fulfill the specific requirements of your industry, whether it’s improving healthcare simulations, creating engaging educational experiences, or transforming retail with virtual showrooms.
What are the important factors to consider when implementing VR in my organization?
When implementing VR, it is important to have clear objectives, understand the necessary hardware and software, and ensure a user-friendly experience that aligns with your business goals.
It’s important to also think about how virtual reality can be integrated into your current systems and processes.
What are the differences between VR and AR in terms of their applications in business?
Virtual Reality provides a complete immersion in a digitally created environment, whereas Augmented Reality enhances the real world by adding digital information on top.
The choice between VR and AR will depend on your business objectives and the level of customer engagement you desire.
Each technology offers unique benefits and can be used independently or together for a comprehensive experience.