Alibaba to Use Virtual Reality to Enhance Shopping Experience - Research and Markets

Mar 18, 2016, 07:13 ET from Research and Markets

DUBLIN, March 18, 2016 /PRNewswire/ --

A recent report published on Research and Markets expects the global virtual reality market to grow at a rate of 96.09% by 2019. VR is being adopted in a wide variety of applications ranging from healthcare, gaming devices, public entertainment, prototype creation to military exercises. Chinese e-commerce giant Alibaba has now set up a research lab as it looks to use VR to enhance the shopping experience for its 400 million users.

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The company is also exploring how VR technology can be applied to its other services, including online games and video streaming, according to reports. Head-mounted displays have created opportunities for VR in a number of applications. A head-mounted display consists of an image source, collimating optics, and a mechanism to mount the device on the head. The device is wearable, and projects images and information relative to the user's line of sight in front of the user. A report on the HMD market predicts growth of 48.95% over the next five years.

Internet-based services such as shopping, booking, planning trips, managing meetings, maps, finding nearby locations, and so on have become a part of everyday life. Virtual reality devices, which are compatible with smartphones, can help users by providing specific information about their requirement on-the-go, without pulling out their portable devices. This technology is expected to commercialize in 2016 and could be worth $2.30 million in 2016.

Alibaba has already created three-dimensional visuals for hundreds of products and will issue standards for merchants to create VR-enabled shopping options. It is also said to be working on creating music and videos.

For further information on this topic, and a full list of all related documentation, please visit the Virtual and Augmented Reality section at http://www.researchandmarkets.com/rm/NIIO .

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Source: http://www.bloomberg.com/news/articles/2016-03-17/alibaba-taps-virtual-reality-for-3d-online-shopping-experience

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