Although it will never replace real-life, the VR industry is positioning itself to deliver the next best thing.While many of these virtual social occasions may not outlast the pandemic, it is likely that one trend that will continue is working from home. August 2016. Yet, without the must-have applications, consumers were unwilling to shell out for the headsets. Virtual Reality is undoubtedly an exciting prospect right now. The global rollout of 5G is going to increase the feasibility of having people work from home more or less permanently, using VR spaces to communicate, collaborate and even socialise with colleagues.But it is not the consumer market that China has its eyes on. Investments into VR technology have been immense over the past three years, with all the major tech companies committing hundreds of millions of dollars, if not billions to the future immersive experience. All this means we can provide a meaningful and useful user experience that goes beyond the tempting but often distracting bells and whistles. Rescape Innovation is pioneering the use of Virtual Reality to solve challenges in Healthcare such as reducing anxiety and pain, and improving the patient experience. Investments into VR technology have been immense over the past three years, with all the major tech companies committing hundreds of millions of dollars, if not billions to the future immersive experience. Not only that, but the impact these enhanced reality technologies will have on global industries is incredible. Rather, government investments are directed towards applying VR technologies to the manufacturing, education, culture, health care and commerce industries. The Chinese government has plans to grow a domestic VR industry, creating key patents and industry standards that would make Chinese VR companies globally competitive by 2025.In 2014, Oculus founder Palmer Luckey predicted that virtual reality was, “going to change the world.” Fast forward six years, and virtual reality seems to have failed to take the consumer world by storm. Although most people who try high-end VR headsets end up being blown away by the experience, this enthusiasm has not yet translated into major sales. A user experience to power VR video.Virtual Reality is undoubtedly an exciting prospect right now. YDX Innovation Corp. (TSXV:YDX) is a technology company that develops products and services and is an expert in immersive technologies like Augmented and Virtual Reality… Entertainment companies, particularly those that rent out high-end VR gear, have seen a big increase in interest as people search for new ways to connect. Trend Explained: Virtual Reality, Before and After CoronavirusConsumers have adopted all kinds of new behaviours during the shutdown, including Zoom happy hours, virtual games nights, Netflix parties, online learning and working from home – and VR is well placed to serve this new market. Up until now, according to tech consulting firm Omdia, global consumers own just 26 million VR headsets – and many of these are gathering dust. The industry may not have helped itself by promoting clunky, low-end products that paired with smartphones, like the free Google Cardboard. Industries will need faster response times, more storage, better processing speed, and that demand will only continue to grow. Yet that is not the full story, especially amidst the COVID-19 pandemic.The Chinese Ministry of Industry and Information Technology expects to see the compound annual growth rate of the VR market reach 91.2 per cent in the next few years. When we started looking at VR pretty much all we knew was that we wanted to build a fully interactive experience, that we did not want to user to have to take off their headset to change to another video or to fiddle around with the settings. These were intended to draw interest by demonstrating the potential of VR, but what they mostly did was convince people that the technology was limited and uncomfortable to wear.As the world adapts to a new reality, there is a real opportunity for VR to help deliver that reality. Virtual reality is an emerging technology that could provide the answer.
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