Policy support from Beijing, along with the rollout of 5G networks, means that the market for VR in China could soon outstrip that in the west.The coronavirus pandemic may also provide a boost for VR. Compared to gaming, there is a much more limited need for interaction, meaning getting the right content is achievable. Virtual reality is an emerging technology that could provide the answer. August 2016. Industries will need faster response times, more storage, better processing speed, and that demand will only continue to grow. 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. Rather, government investments are directed towards applying VR technologies to the manufacturing, education, culture, health care and commerce industries. According to the Chinese government, adopting VR technologies to research and development, testing, maintenance and training in the manufacturing sector will allow enterprises there to vastly improve their design and service capabilities.Since its release in 2019, Facebook’s Oculus Quest has seen steady sales. Surveys show that businesses are adopting VR at twice the rate of consumers.By and large, the consumer VR industry suffered from a familiar chicken-and-egg problem. The all-in-one headset offers six degrees of freedom tracking, which means that the headset has the same full tracking capabilities typically reserved for high-end PC-driven VR headsets—without the games console. But it is far too soon to count consumer VR out yet. 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. 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. 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… 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. And not all of these solutions require a headset. 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.
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.
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. 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. A user experience to power VR video.Virtual Reality is undoubtedly an exciting prospect right now. The high-quality headsets were too expensive for most consumers and without a large customer base, content developers were not motivated to produce applications. Many of the investments in consumer VR, especially in the US, are aiming at the games market.
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