December 22, 2017
The world is changing rapidly thanks to two brothers – virtual and augmented reality. The debate about which one is the elder is for another day, but virtual reality is currently holding the reins in the technology world. It is considered to be one of the most important and powerful inventions of the world. The technology is expected to witness wide-scale adoption by many industry leaders in a few years.
While we saw many great use cases of VR in 2017, the future is anticipated to be even more exciting. Here is a list of things to expect from VR in 2018.
But first here are few statistics:
By the end of 2016, VR revenues reached USD 3.5 billion globally, with over 50 million individuals using the technology. It is expected to rise to USD 4.6 billion in 2017, and reach about 170 million users by 2018! By 2020, the global VR market is expected to surpass USD 40 billion.
In 2017, we witnessed the release of numerous VR headsets and gear from industry giants like HTC, Oculus, Samsung, and Google. However, we feel that that was just the tip of the iceberg. 2018 will prove to be much more radical than 2017.
The development of VR can be applied to many disciplines such as gaming, entertainment, marketing, engineering, education, training, art, education, simulation, etc. The fascinating thing about VR is that the technology is evolving and being improved every minute!
VR headsets have reached classrooms, offices, hospitals, and malls. They are changing the way we perceive advertising and marketing. Business owners, with the help of VR, are able to provide better knowledge-based solutions, which are being well received by customers of all types.
With the amount of technological innovation that’s going on, VR will be in the top position in a few years. It has a plethora of applications, empower people to better understand the world, pacify kids when they are at the doctor’s, help unsatisfied job seekers blow off some stress, etc.!
Oculus rift is already modernizing the entertainment and gaming industry with its revolutionary headsets that show fascinating images and landscapes in real-time.
3D films were considered revolutionary a few decades ago, however, movie buffs are expecting more from their movie experience. Enter 12D and 9D shows! These currently have their application in amusement parks, but are expected to penetrate the entertainment market soon.
Those trips to the museums and galleries that are often missed due to time constraints can now be fulfilled. Even short vacations can be converted with VR. VR provides a powerful immersive experience of exotic and remote locations without having to physically visit them.
The healthcare industry has also adopted VR with fervor. Doctors wear VR headsets to understand the complexities of the patient’s organs and then perform the surgery. VR technology is expected to further this process as it is evolving rapidly. This will only lead to better healthcare and improved patient experience.
VR currently involves only two senses – vision and sound. However, progress is being made to involve the other senses as well. Smell is the first other sense apart from sound and vision to be included in VR. We saw a glimpse of that at the 2017 Tokyo Game Show.
The addition of an extra element in VR opens the door for many applications across a wide range of industries.
This is just an example of how VR technology is including other sensory organs. Other massive improvements are expected in this regard.
Given the ubiquitousness of social media, VR has massive potential in most of the channels. Currently Facebook is using its 3600 photos and videos to entice individuals. However, in a few years this will be replaced with VR.
The affordability and popularity of VR will help companies push VR to the far corners of the world. Social media channels such as YouTube, Pinterest, Snapchat, Instagram, etc. are expected to be the early of adopters of VR.
It’s not a secret that VR has the potential to disrupt ecommerce. For when it does, v-commerce is the name that would be used to describe it. The idea here is that customers will have the chance to try clothes on using VR.
The current Asian commercial market has already adopted VR. Alibaba, the Chinese ecommerce giant, in 2016 introduced VR to its customers across China. With this, the company attracted over 30,000 shoppers in just a couple of days. A week later, the number of shoppers rose from 30,000 to 8 million.
Many other ecommerce businesses and retailers are expected to follow the footsteps of Alibaba in a years’ time. This helps them increase and improve their existing portfolio and increase their customer base.
There is currently a dire requirement for VR professionals across the world. This trend is only going to expand over the next year.
VR tech and the industry in general will see a tremendous rise in demand for professionals and experts in the VR development field. As the amount of content that is released will increase, the demand for qualified VR professional will increase. Subsequently, other industries such as advertising, marketing, and design will also get affected with the increase in demand for VR content.
Advertising is one industry that constantly leverages the latest technology advertise effectively. VR is not going to be an exception. VR is the most effective tool to perfectly plant a brand in the customer’s mind.
VR advertising can easily take advantage of users’ social profiles and display relevant advertisements or content through a simulated reality. This is expected to have a massive impact on the customer’s experience and customer journey.
As the applications of VR across industries are too wide, the possibilities for advertising are virtually unlimited.
VR tech is only going to get better and better. Devices are also moving forward to accommodate VR. This is great news for tech companies in the VR ecosystem, marketers, and ultimately the consumers. Because the end consumers are involved in the loop, it pushes organizations to innovate and bring out new devices and software to the market.
Until a few years ago, the possibility of watching a 3D movie at home dazzled us. Now, we are able to completely immerse ourselves in a parallel world and tap into a completely different experience.
The commercial consequence of VR is going to be gigantic. Brands should start looking at VR as a potential marketing channel to stay relevant. They should take advantage of upcoming innovation and possess the edge over their competition.
Exactly telling the progress of VR or AR over the next few years is going to be difficult. But it is likely that the technology will become commonplace and developers will focus on it to enrich customer experiences.
What are your thoughts about VR technology trends for 2018? Do you think the aforementioned trends will define VR in 2018? Share your thoughts and suggestions by commenting below.
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