Virtual reality is expected to create a hardware market of $ 40 billion by 2020.

In 2016, according to Deloitte, the virtual reality (VR) field exceeded $ 1 billion in revenue, thanks in particular to the sale of virtual reality glasses that exceeded 8, 2 million units and whose prices range from 50 to 1000 euros per unit, depending on the quality of the units.

However, although these numbers can be astonishing, virtual reality still has much to go forward. According to a Business Insider Intelligence report we are right now in a state that reminds us of the smartphone market about 10 or 12 years ago. Many people are working on it (software and hardware manufacturers), with many ideas on the table but with a lack of standards.

VR shipments are expected to create a hardware market of $ 40 billion by 2020, compared to the current market estimated at $ 4 billion. The demand for VR headphones will be fueled primarily by games, both mobile and console devices.

Today, there are 1.2 billion users who play via console and mobile devices.

Today there are almost 1.2 billion players around the world of which almost 1 billion are mobile gaming players.

VR headphones with a smartphone such as the Samsung Gear VR and standalone devices like the Oculus Rift (whose company is bought by Facebook for $ 2 billion) were also two major breakthroughs in 2016 in the field of virtual reality. Premium devices like the Oculus Rift, HTC Live and Sony PlayStation VR accounted for most of the revenues over the past year.

According to studies by the consultancy firm BlueAttack, the global value of the virtual reality market in 2016 is $ 3.6 billion, a figure that is expected to reach $ 4.6 billion in 2017.

And for 2018 what …?

The next year 2018 is expected to be the « definitive push » with the appearance of some application that changes the history of virtual reality, such as the importance in 2016 of augmented reality thanks to the game Pokemon Go which was a authentic social phenomenon.

The doubt that many manufacturers of virtual reality glasses have today is that, given the diversity of prices, this may affect the quality of the user’s immersive experience, that is, the price has to be competitive to convince the consumer and avoid the prices of low glasses that offer immersive experiences that may lead to failure the market of virtual reality.

The problem we find today is that the glasses that are affordable to our pockets are not quality glasses and those that escape our economy are those that have quality. This is the problem to be solved during 2018 and for the years to come.

10 uses of virtual reality today.

1. Use of virtual reality in medicine.

Currently virtual reality is used in many areas. One of them is medicine, either in education processes or to prepare surgical operations, exposure therapies and pain management through distraction techniques and even in complicated processes such as phobias. Some psychiatrists are using virtual reality glasses to help their patients overcome phobias such as fear of some animals, claustrophobia or fear of flying.

2. Virtual reality to learn to drive.

An example about this,  RACC has been a pioneer in Spain in using virtual reality to teach safe driving methods.

3. Virtual Reality in tourism and museums.

Currently, many travel agencies are already using VR glasses to encourage travel to their customers. Now it is a reality to be able to enjoy an immersive experience on a paradisiacal Caribbean beach or visit a city like London using virtual reality.

VR is also being used in museums solving communication problems and contextualizing objects of the exhibition, contributing dynamism and interactivity to the users experience and making the visit more funny.

4. Virtual reality in concerts and sports activities.

More and more artists, like the Icelandic Björk, introduce the virtual reality in their productions. It is not long before the time comes that we can enjoy and live a concert sitting on the sofa of our house living the experience of being among the public with our VR glasses.

On April 2, 2016, Movistar + and Samsung organized an exclusive viewing in flagship stores in Barcelona and Madrid of the classic Barça-Real Madrid in virtual reality, in which the user could enjoy a totally immersive experience, enjoying the match from three different positions in the stadium, one of them at the foot of the field. A pioneering experience that will be developed during the next years and will allow the user to live a serie of unique  experiences.

5. Virtual reality and education.

In the near future, students will be able to feel in first person how they lived in the Middle Ages, what a gladiator experienced in the great Roman Coliseum or study the human body making a journey inside through the virtual reality.

6. Virtual reality in the real estate sector.

One of the advantages of virtual reality in the market for the sale and rental of flats is that thanks to its VR viewers it is possible to visit a dwelling perceiving the proportions of the same in a totally realistic way. This is an advantage especially for holiday rentals, you can see how the house is where you want to spend your vacation.

7. Virtual reality for military uses.

The use of VR viewers for military training of the land, air or naval army serves to train military professionals within a virtual environment that allows them to improve their skills without having to tread the battlefield. With all the good that it entails (less risk of suffering an accident, reduction of costs …). The possibilities offered by the VR in the military world are broad and very beneficial.

8. Virtual reality and experimentation.

In this experiment that we show you in the following video, we observe the sensations that a person can feel when occupying the body of another person of the opposite sex, all thanks to the VR A rather curious experience about gender identity.

9. Virtual reality and cinema.

Last year the first virtual reality cinema opened in Amsterdam. The VR Cinema has 42 seats, Samsung Gear VR virtual reality glasses and a Sennheiser headphone for each viewer. The films you can choose promise an unforgettable immersive experience in which you feel the true protagonist of the film at the price of 12.50 euros.

10. Virtual reality and entertainment.

The video game industry is the one that invests millions of dollars per year in virtual reality. VR devices like Samsung Gear VR, Oculus VR, PlayStation VR, HTC Vive … have developed games that employ virtual reality to enjoy immersive users experiences that far exceed those generated with 3D.