NEW YORK, April 14, 2016 /PRNewswire/ -- Virtual reality has existed in niche enterprise and industrial segments since its origins in the 1950s and 1960s. VR plays an important role in combat training for the military, for example, while advanced visualization techniques are extremely powerful tools for research purposes. Healthcare has also made use of the technology for quite some time. Nevertheless, Facebook's acquisition of Oculus VR, along with the development of rival head-mounted displays (HMDs) from companies like HTC and Sony, has raised the profile of VR immeasurably and a wide array of industries look set to be touched by advancements in this space.
Marketing and advertising is one example. Getting users to experience a brand via a new medium lingers longer in the mind and can help a company to really establish its product in the minds of target audiences. The automotive, aviation, and architecture industries are all set to use more and more 3D models in place of physical prototypes. Doing so reduces cost and risk and allows changes to be made easily. Barriers remain, but are being overcome. Average selling prices are coming under pressure with the emergence of consumer-grade equipment that can be used in many settings. Getting people to experience VR remains a challenge, however, and changing long-held beliefs about processes will take time.
This Tractica report provides global market forecasts for the period from 2014 through 2020 for annual unit shipments and associated revenues for VR hardware and content in the enterprise and industrial sectors. The analysis covers HMDs, along with other VR equipment such as motion capture cameras, displays and projectors, hand tracking devices, and locomotion devices, as well as software applications and content creation tools. Data is segmented by five major regions (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) and eight different application markets are examined (academia and research & development, marketing and advertising, medical, retail, travel and tourism, training and simulation, virtual prototyping/3D modelling and others).
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