While the use of virtual reality is not yet mainstream among consumers, specialized applications of the technology are proving useful in a variety of industries.
Despite the hype, it’s not yet clear if or when virtual reality (VR) technology will reach mass-market status. However, specialized applications are showing promise in a variety of industries.
The majority of VR applications are in gaming, entertainment and sports. Lack of interest, high equipment costs and limited content have inhibited more widespread consumer adoption.
Though not yet in the consumer mainstream, VR has value in many business applications. Industries are experimenting with it to increase efficiency, achieve economies of scale and enhance performance.
Industry applications with the most traction include those that visualize 3-D modeling, “transport” people to places too expensive or inconvenient to reach, and enable participation in risky or hypothetical scenarios.
The VR market continues to grow. However, it is unclear how the development and adoption of two other immersive technologies—augmented reality (AR) and mixed reality (MR)—will affect the overall landscape and trajectory.
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Table of Contents
Living Up to the Hype?
Retail: Try Before You Buy
Healthcare: Therapy and Training
Real Estate and Construction: Virtual Visualization
Travel and Hospitality: Around the World Without Leaving the Couch
Industries in Which Virtual Reality (VR) Will Have the Most Impact According to VR Content Creators/Developers vs. VR Technology Professionals Worldwide, March 2017 (% of respondents)
UK Internet Users Who Would Like to Use Virtual/Augmented Reality vs. Digital Assistants When Booking Travel, by Age, June 2017 (% of respondents in each group)