- in Technology

The market for virtual reality technology is potentially huge, its applications are expanding, and it’s enticing cash at a fast clip.

Hardware and applications in the area will rake in around $2.3 billion in earnings for 2015 worldwide, vs. $90 million in 2014, based on research info from Statista. By 2018, the company anticipates revenue of virtual reality products to reach $5.2 billion.


No surprise, then, that companies like Facebook, Google and Intel are trading.

Facebook got VR headset developer Oculus in 2014. Its Oculus Rift headset is scheduled to launch in the 1st quarter of 20-16.

Google is currently selling its smartphone-compatible Cardboard VR viewer, and it’s created apps to opt for it.

Humanoid robots called Pepper, produced by SoftBank Corp.’s Aldebaran Robotics unit, stand throughout a Softbank programmer’s workshop for pupils and robot lovers in

Intel has developed VR technology for Razer cameras that can be utilized as gambling controllers. Razer expects to establish them in early 2016.

Also early next year, Sony is expected to release its VR undersea gambling experience, “The Deep,” along with its Task Morpheus headset launch.

Tech companies aren’t the only ones investing in VR. New York Times, for instance, established a 3D viewer in November.

And at least one smaller firm has found early success in virtual reality video games. Crowd-funded VR sport Celebrity Resident, created by Roberts Space Sectors, has raised more than $100-million in funds.

Task Morpheus virtual reality headset during a demonstration

“Virtual reality is a completely new method,” said Neville Spiteri, co-founder and Chief Executive of Wevr, a company that helps people create content and reveal it with their audiences. “As an outcome, there’s a whole new-wave of originators, storytellers, authors, directors, sport designers which can be really fascinated by the new moderate and are creating content for it.”

Fb’s Oculus has already worked with a former Pixar worker on virtual reality amusement, that will be accessible to Oculus Rift users when that head set goes on-sale.

Virtual image

Naturally there are more useful applications for virtual reality beyond amusement.

Air Force pilots are being trained on Lockheed Martin aircraft utilizing virtual reality, and at that aerospace and defense firm’s Collaborative Human Immersive Laboratory, VR technology is used simulate space craft operation and rocket launchings, in accordance with the corporation.

And experts state virtual reality hardware and software could alter just how the healthcare business manages as well.

Virtual reality is used to instruct pupils the best way to execute endoscopies and ultrasounds and the best way to put cardiac catheters in-patients with heart issues, according to Dr. Aaron Bair, medical director at the Center for Wellness and Technology & Center for Digital Treatment at the College of California, Davis.

“If there clearly was also a modest fraction of the investing in wellness treatment VR as there’s experienced gaming system content, it might possibly be ground-breaking for education,” Bair stated within an email.