VR – Virtual Reality

Virtual Reality has been described as being “computer-generated simulation of a three-dimensional image or environment that can be interacted with in a seemingly real or physical way by a person using special electronic equipment, such as a helmet with a screen inside or gloves fitted with sensors.” With every technological stride this industry has become the ultimate medium of tangible intent; it is allowing us to literally show one another what we mean rather than having to explain it. The current VR technology in 3D movies and video game devices has surpassed what many in the past believed would never exist. What exists now in the realm of VR is just the beginning, so what is yet to come and how will it affect society?

Digital VR

The more updated a device becomes the more VR features are added and these features will make video in virtual reality work better each time. The 360 videos on Facebook is the first step as it’s allows individuals to look around and feel like they’re present when watching a video. Already, millions of people watch 360 videos on Facebook every day.  This is the same with virtual tours of real estate properties and hotel rooms. Videos in the future will be able to come to life around people and feel like they’re actually there, rather than just viewing it.

Facebook has put together an elite Social VR team that’s focusing entirely on exploring the future of social interaction and how to better connect people and produce easier sharing capabilities. Marketing teams worldwide will eventually assemble teams investing their efforts into the VR sector.

Touch screen is also just at its beginning of usability. Touch screen will transform into a way of viewing online features in 3D by a click of a button. For example, online shopping will become a whole new experience. Imagine being able to try on clothes in the comfort of your own home and never having to return an item in store or waiting in line to purchase an item ever again.

The VR Economy

Like most forms of technology, the initial spending for Virtual Reality marketing and VR products will rise before they decrease. The price starts to come down which is usually due to affordable components and products becoming smaller and more accessible and their popularity increasing among the public sector. The VR market is estimated to spend approximately $30 billion by 2020 and therefore the content will be bigger and better than ever before. Already, major motion pictures like Insurgent, Jurassic World, The Martian and Star Wars have created VR experiences to contribute to their marketing efforts. Likewise, other brands such as Lexus spent their highest budget ever at the 2016 Toronto and Detroit Auto Shows implementing a virtual car race between two contestants. The individuals would sit in a stationary seat set up with a gas and break peddles and a stealing wheel that was connected to a racetrack that was seen through oculus goggles. The video game like experience brought an interact activity to the VIP guests and brought them out of the existing world to escape into another, even if just for a few minutes.

Virtual Reality Consumers

Right now, video gaming technology has had the most impact in creating elements in VR and therefore, the gaming community has the most experience with VR technology. It’s the hope that one day Virtual Reality will be incorporated into every individual’s lives like how smart phones dominate people’s lives today. In the future, VR will enable all kinds of connection like the ability for friends who live in different parts of the world to actually spend time together in the physical sense.