3D Virtual Reality to observe rapid growth by 2021

With drastic increase in the popularity and acceptance of 3D virtual reality technology, 3D VR is on the verge of seeing a huge growth spurt due to its immense application in diversified domains, globally.

According to International Data Corporation (IDC), 3D VR and Augmented Reality are already being used in several marketing, industrial as well as medical applications which indicate that this technology will rise up to 10 folds by the year 2021.

Moreover, latest news reveals that Google and HTC are working in collaboration to invent wireless Virtual Reality headset. According to IDC, such rapidly taking place innovations also prove that VR headset market have the potential to increase worldwide at a Compound Annual Growth Rate (CAGR) of 58% attaining 99.4 million units approximately by the end of 2021.

In 2016, it was reported that around 10 million VR headsets were distributed worldwide, it is predicted that by the year 20121 the number of distribution on VR headsets will increase up to 100 million. IDC also predicted that around 38% of the market will be consisting of VR shopping malls, 3D designing companies, and architecture. The left over 62% will include revenues generated by the transportation of headsets to the customers.

IDC, the research firm also confirms that globally, there are around 15 dealers who provide VR smart headsets and smart glasses under the label of Epson that consist of a price range of 700 to 3000 U.S. Dollars.
Let’s discuss how the 3D VR technology gaining popularity and how big business are actually availing benefits from this latest technology.

Amazingly, it was presented by Llamas that Embraer Commercial Aviation utilized the 3D VR technology provided by Canon in order to aid potential business customers to have a complete realistic view of the business airplane. This way they can choose preferable seating arrangement, color, as well as furnishing of the plane. This in turn benefits the company by leading to rapid manufacturing of custom planes.

Similarly, another remarkable use of 3D VR is done by the Case Western Reserve University by means of Microsoft HoloLens to teach their students about human anatomy via realistic vision into the human body, in collaboration with Cleveland Clinic.

On the other hand, 3D Virtual Reality is seemed to observe drastic growth is also because of its great use in entertainment and fun. Numerous people worldwide are involved in playing online VR games. Also, several malls, cinemas, and play areas greatly buy and sell these high-tech headsets.

Despite all the benefits and awe-inspiring reviews that are spread worldwide, there is little turn-off about the technology also. Many consumers are noted to be experiencing nausea or dizziness while using 3D Virtual Reality Goggles. These symptoms rise when they undergo leaning of the chair. At Mobile World Congress, Samsung demonstrated various VR experiences and people’s reactions while enjoying a roller coaster ride, or while skiing. However, the warning signs for patients with some medical disorder or pregnant ladies were provided before.

Despite any turn offs, researchers and Strategy Analytics believe that the industry of Augmented and Virtual Reality will beyond doubt generate the revenues of $10 billion by the year 2022.