Since Facebook purchased Oculus for $2 billion in 2014, Microsoft has bought Havok with the aim of capturing a large slice of the VR market – with Google, Samsung and others also part of the race. While VR is still in its infancy and seen by some as a novelty (as smartphones once were), the fact that such major technology players have invested so heavily in this space should encourage others to sit up and consider how VR might transform aspects of their business, or even disrupt their industry.
Aside from the more obvious entertainment and social benefits VR will give us, imagine being able to work more closely with co-workers from across the world in a virtual meeting space or get your education in virtual classrooms. Last week at the SAP Business Transformation Summit we heard how sick children were given a ‘virtual fun-park' experience, even though they were unable to move from a hospital bed. Read what the growth of VR will mean for brands and access research on VR consumer markets here.
Earlier this month, Mark Zuckerberg and the chief scientist of Oculus VR joined Steven Levy to discuss VR and other advancements.