The virtual reality market is expected to grow to more than $13.3 billion by 2020.
There are also companies who are looking to use virtual reality technology to train their employees as well. Industry experts suggest that for now, virtual reality is still in the infancy stages. However, it continues to grow in popularity and virtual reality technology is slowly becoming more prevalent in the market, poised for a major comeback.
The virtual reality technology is enabling marketers, advertisers, and other companies, to try and create a new experience for people by allowing them to showcase their services or products in new, imaginative, and engaging ways.
They can use it as a tool to help them to better form an emotional connection with the consumer. And one element that is going to be critical in determining the success of the market is the feedback from consumers, specifically about what they enjoy or don't enjoy regarding the overall experience.
An increasing number of brands, like Volve and Topshop, have turned to using virtual reality technology to try and set themselves apart from the competition already.
Some retailers, like Walmart, have also taken to using the technology to train their employees. Police departments are also looking to use it for training purposes as well.
Another industry that's also said to be looking into using more of this technology is the construction market; they're eager to use the technology to improve on their services and provide a more creative and interactive design process by utilizing both VR and augmented reality technology.
It's already made its way into a number of different market areas and yet there are still many ways for this technology to grow and many other ways that it could be utilized to showcase a variety of products or services, to help with training etc. There's lots of room for growth.
We can expect to see this technology soon be further embraced in the gaming industry, within the fashion world, the car and construction market, even the strip clubs in Vegas are considering implementing VR into their business models.
It might not be that long before VR receives mass adoption some have suggested. What that will require is a creative, immersive, and memorable experience for the consumer. As the technology becomes increasingly affordable as well, and more companies start to use it in new and creative ways, that will prompt more people to engage with the technology; turning to embrace this market.
Pics:
Pixabay
Pixabay
giphy
Sources:
https://techcrunch.com/2017/12/02/virtual-reality-gets-its-groove-back/
https://venturebeat.com/2017/03/12/gold-club-sf-vr-ushers-in-realistic-virtual-reality-for-strip-clubs/
https://www.casino.org/blog/vr-strip-clubs-help-vegas/
https://www.forbes.com/sites/forbescommunicationscouncil/2017/12/07/how-marketers-can-create-engaging-customer-experiences-with-virtual-reality/#75b0f25d7a96
https://irishtechnews.ie/how-to-save-money-through-the-use-of-virtual-reality-in-the-construction-business/
https://www.policeone.com/policing-in-the-video-age/articles/467266006-How-virtual-reality-could-transform-law-enforcement/
https://www.itproportal.com/features/what-will-it-take-for-virtual-reality-to-break-into-the-mainstream/
http://www.baltimoresun.com/business/bs-bz-walmart-virtual-reality-training-20171128-story.html
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I think this emerging market is not only being driven by normal market forces, but is being engineered and promoted by the financial "elites" like the members of the WEF because they want it to lead to the use of DNI's aka Direct Neural Interfaces. Slowly indoctrinating the masses with wearable tech for the non wearable implanted tech that is coming.
I covered this is "Decoding Davos 2016" during which the VR headseats were the featured item for the Davos elite:
I liked your video as well as the video
Exactly my concerns. Wonderful video.
A great post @doitvoluntarily
Great Post :) Protect your pocket ^^
Haha !! 👌😂😂😂
instructive article about "virtual reality technology" (VR). exceptionally pleasant to find out about that, much helpful for
advertisers, promoters, and different organizations, to attempt and make another experience for individuals by enabling them to exhibit their administrations or items in new, creative, and connecting with ways. Thanks @doitvoluntarily for sharing helpful blog.
Also I think the Windows Mixed Reality headsets came at a good time, just as oculus lowered their price to the same so I'm hoping eventually the vive will come down too haha.
I have a Gear VR and it's fun to play around with. I especially enjoy the puzzle games, Darknet is one of my all time favorites. I don't play much though because it does get disorienting. 😐
i want one to test it
Believe it or not, you can get a cheap cardboard VR at the dollar store, or there are tutorials online how to make one yourself.
I used to go into tmobile all the time and use their demo one before I purchased mine. 😁
Great a post but if you upvote me 100%, i will share always your post everytime
Nice post. Technology is growing by insane pace, from artificial intelligence to virtual reality. My experience whit VR in gaming is amazing.
I could see down the road implants in the body of this technology. Great Read. Thanks.
Nice post @doitvoluntarily
Technology is increasingly encouraged by the company. It has become the demands of competing times in business. Thank you for sharing a very useful experience for many people. Good luck always for you @doitvoluntarily.
Awesome if you like virtual reality check this out!
https://steemit.com/decentraland/@stealthtrader/decentraland-mana
I Loved it from the start and still i like it. But i think augumented reality Will be the winner.
Yes! I'm very excited to see what augmented reality can do!
Great post....you can see it on the shelves of any big box retailer
Wow @doitvoluntarily ! VR Coming soon to a home near you ! By 2020 maybe it will be more affordable or even more easy to try out and in more places which will help bring the cost down ! in the future I would love to try this thing out ! I have seen it demonstrated and looks pretty cool and like real life But kind of freaky !! What I think would be cool is having like a Hologram show up in your house and party with you ! LOL! Or just show up to visit and talk to you as though the person is really there in person while your chatting with them on an ear piece through your computer or phone !! That would be really cool to see as well !! Thanks for sharing the future with us ! Upped and resteemed !👌✌👍
I get a little nervous when I see this stuff as it seems tome to be the start of transhumanism when me start to merge with machines makibg us cyborgs in a matrix-like kind of world.
a great post. i like it so much thanks for this post.
Great post @doitvoluntarily!
@doitvoluntarily I bought a VR headset a year ago and found that while it's fun to use for a short duration, it is actually quite cumbersome - the navigation using a magnetic clip was a pain and you really can't use the headset for too long (for a movie for example) because it strains your eyes after a while.. It was great for short videos though...
I guess the technology will keep improving over the years and we'lll see some great refined products before long ..