In recent years, Virtual Reality has become a mainstay of various industries. VR devices have now become more affordable and more powerful, allowing them to finally prompt content creators and game, such as to focus on the platform. Read on to know the future of Virtual Reality.
VR is exploding in popularity
It seems that the future of Virtual Reality is quite bright. The global VR market was valued at $7.9 billion in 2018 and is expected to grow to $44.7 billion by 2024. Innovations in memory and graphics processors have led to the significant progress of virtual reality in recent years. As more and more companies are investing in this innovative technology; the cost of VR devices is likely to reduce in the following year. A recent survey by Horizon Media found that out of the 3000 people surveyed, 72% of them are interested in owning a VR device. Out of the 72 per cent, 47% to pay more than $250 for a VR headset. The survey clearly states that Virtual Reality is going to be more popular among people in the coming years.
Gaming VR market will continue to grow
Virtual Reality games are becoming more and more common among the gaming community. The global VR gaming market is expected to grow to $22.9 billion by 2020. Standalone headsets will allow users to use the VR service without any sort of installation. Companies are trying to make their headsets more affordable and accessible to their customers. Gaming giant Sony has announced that it has sold over 4.2 million PVSR units and will continue to support the VR gaming platform with new releases. There are still various challenges in the VR gaming industry, but as demand increases, innovation will follow. Although VR gaming has not seen rapid growth at the start, it will surely increase in the future.
5G will unlock the full potential of VR
The 5G network promises a more stable connection and faster upload as well as download speeds. A stable and reliable 5G network will help VR applications evolve to the next level. ABI Research claims that the 5G network will bring about a 10x decrease in latency (the time lag between a request and the response). As 5G provides up to a million connections per square kilometre, users can have a more immersive VR experience without any interruption. The arrival of 5G will push the processing power away from your computer and into the cloud. This means that you will only require your VR headset and you can have the Virtual Reality experience anywhere, anytime.
VR is the future of education
With the use of Virtual Reality, learning is everywhere. Students can use this technology to learn more thoroughly about their favourite topics. Teachers will be able to explain the most complex concepts through real demonstration. VR will also help in reducing the competition problems that we face in the educational system today.
