Immersive Virtual Reality Market Report 2020 together with Top Companies, Market Dynamics, Growth Opportunities and Forecast 2026. April 11, 2020 Deidra
In what ways are we going to benefit from V.R.? (Virtual reality)?
1. Surgery Planning–Google Cardboard saves a baby
Virtual reality can be used to explore three-dimensional scans of patients’ organs in a way that could not be possible with traditional methods. For example, baby Teegan Lexcen was born with only one lung and half her heart. Dr. Redmond Burke, the chief of cardiovascular surgery at Nicklaus Children’s Hospital in Miami, used a low-cost Google Cardboard headset to plan a surgery on the baby. The headset helped him see the 3D images of the baby’s heart to figure out how to save her life. Just four weeks after surgery, Teegan was taken off the ventilator. She is expected to make a full recovery.
2. The world’s first surgery streamed in virtual reality
In general, medical students watch actual surgeries in order to learn how to do the procedures, and the experienced doctors benefit from learning new techniques and getting a refresher on old ones. While the viewers can actually feel as though they are right there in the operating room if the surgeries are filmed using virtual reality or 360-degree cameras.
“I believe that virtual reality and augmented reality can revolutionize surgical education and training, particularly for developing countries that don’t have the resources and facilities of NHS hospitals” Dr. Shafi Ahmed said, who did the world’s first surgery streamed in virtual reality, in which he removed cancerous tissue from the bowel of the patient, which took just over three hours.
3. Virtual reality helps treatment of phobias
For some time now doctors and therapists the world over have advocated exposure therapy – forcing patients to physically confront that which they fear the most – in order to ease or completely cure phobias. They are using virtual reality in combination with cognitive-behavioral therapy as a tool to help people overcome phobias, with virtual reality–3-D computer graphics that simulate environments in the real world–to help clients confront their fears in a controlled and safe environment. Dozens of studies over the past decade have shown that virtual reality can help people overcome the fear of spiders, heights, storms, flying and even public speaking. And recently, researchers have been investigating ways to make virtual reality even more “real” and the therapy even more effective.
4. VR practices in Post Traumatic Stress Disorder/PTSD treatment
Dr. Albert Rizzo of the University of Southern California has been working within clinical virtual reality for the past 20 years and has even won awards for his work in developing treatments for PTSD. Similar to exposure therapy for curing phobias, VR is being used to ease Post Traumatic Stress Disorder, primarily suffered by military veterans upon returning from war zones like Afghanistan and Iraq.
5. VR for Pain Relief
Numerous studies have shown that virtual reality experiences don’t just distract patients from their pain, they can actually reduce the pain signals that reach the brain. Now, with the availability of low-cost, mobile-based virtual reality headsets such as Samsung’s Gear VR and Google Cardboard, the technology is leaving the research labs and getting real-world applications. The Cedars-Sinai Medical Center rolled out the Pain RelieVR products by AppliedVR, which are virtual reality applications that help reduce the pain and stress of medical procedures. The hospital plans to use the apps in its Spine Center, its Department of Surgery and its Orthopaedic Center.
Virtual field trips
There are many ways in which virtual reality can , and one of those is virtual field trips. In a very short amount of time, these have managed to become of the best applications of VR learning, as they can travel the students to any place in the world without them having to move from their seats.
Imagine being in a geography or even a history class, and learning about a certain place and its importance, while being able to actually see everything that you are being taught. This is truly one of the best ways to teach students of any age about the wonders of the world, where they can explore everything they wish on the planet, and actually, make learning a lot more fun and interesting.
Improving various skills
A great way in which virtual reality techniques are contributing to enhancing and improving the current education system is by offering students the chance to apply the skills they are being taught from their classroom in a more possible, everyday scenario. Law students are already benefiting from VR representations of real trials and other fields of studies are starting to follow their lead.
Various companies and even some great writing services like Flash Essay like to focus in their own blogs about how important VR can be when it comes to helping a student work on their own skills, whether they have to do with writing or even being presented with real-life situations of what they’re studying.
One of the best things about virtual reality is that it can truly help everyone attend a class, no matter where they’re at. There are many people who might not have the privilege to actually attend a classroom, like many postgraduate students who follow their master’s online.
One of the best examples is Stanford School of Business, which is already offering a certificate program which can be fully delivered through VR. Being able to watch a lecture online while not being able to attend, is already helping break a lot of barriers in education and is a very promising field with many more universities and schools joining in in the future.
Game-based learning techniques
It is commonly known that the best way to teach something to a child is through a game. Virtual reality can give teachers the opportunity to approach learning games from a different perspective. There are many ways in which games can be improved through VR.
First and foremost, VR Games are a lot more interactive than regular games used in the classrooms. The children can interact a lot better and share their experiences without being judged on their abilities.
Not only that, but interactive and kinesthetic games are known to help players memorize the things they come across in the virtual games. This can truly help students better memorize things and increase their ability to learn.
Better cooperation between students and teachers
When you think of incorporating virtual reality in a classroom, you might probably believe that it completely takes away the opportunity for the teacher to focus solely on each and every student. In reality, though, VR actually helps in one-on-one learning and this is actually necessary for some students.
Using technology, such as VR, the teacher actually has the chance to communicate solely with one student and help provide them with the needed materials to improve and better themselves. The student won’t have to feel ashamed to ask something in front of the entire classroom as this whole experience is a lot more personal and it can improve the cooperation and the relationship between a student and a teacher.
Virtual reality can change the way we approach education
While virtual reality still has a long way to go until it can fully be incorporated into the classrooms, it has already started to show some positive changes. The educational system can truly become a lot easier for the students and they can finally have a chance to work on their own personal skills without feeling left out.
Virtual reality can help build a stronger relationship between teachers and students and it can help make students a lot more interested in what they’re learning. VR games and practical examples of what they’re studying can help students memorize what they’re learning a lot faster and better understand how to use it in their everyday lives.
Traditional methods include the essential component of property photos on an online platform. Virtual reality and augmented reality makes it possible to view properties in three dimensions. These virtual tours providing a 3D walkthrough, improving the stickiness of an ad and allows people to see a space as they would if they were physically at a property. This type of virtual reality technology, such as seen with Matterport, may make it easier for prospects to more fully experience property prior to going to an open house.
One virtual staging technology company, rooomy, gives individuals the ability to visualize and decorate a virtual space. How does the technology work? The company allows people to upload a picture of a space and decorate or virtually stage it using a catalog of 100,000 common household items and pieces of furniture.
This fun tool can let those looking at a potential property play with styles, furniture groupings and flow prior to settling on a single property, much like traditional staging when selling a home. Google Tango takes the guesswork out of envisioning a room and lets the user experience and look around a room as if all changes have been made. These technologies will impact the experience of investors, buyers, and agents.
VR Hotspots are a very interesting way to augment virtual reality. Hotspots allow for more interactivity and improve the VR Experience. Overlays via hotspots can offer additional details on a tour or give a close up of an area of interest. Properties with special features, close to nearby attractions or have historical or architectural significance may greatly benefit from Hotspot technology.
Agents and property owners that add Hotspots to VR look to take the 360 experience to the next level and get users to engage with that virtual world. Interactive hotspots are one way to create a “sticky” user experience for potential buyers. Hotspots are easy to add with technology from InstaVR, and soon, VeeR VR. Include more details on a property or gamify the VR experience. Get users talking about their VR experiences with Hotspot overlays.
Know what a property looks like before a project is completed with virtual reality. The Virtual Experience is another take that allows users to have a walkthrough experience of a property under construction. This makes it easier to sell office space or condos earlier to prospective buyers. Real-Time Options can let potential buyers personalize the space, as well as gain additional information about the property.
Virtual reality is shifting how residential and commercial buyers are experiencing properties. With additional features, clients can get a feel for a property as if they have arrived at an open house. In addition, agents can get a technology that helps them close deals on construction projects that may not have broken ground.
The Future of Virtual Reality in Real Estate
There is more to come when it comes to virtual reality and how it may be used in the real estate industry. Virtual reality may be considered a disruptive technology in how it changes the experience for investors, buyers, and sellers through various stages of construction and in selling a property. There may come a time in the future when the practice of open houses becomes unnecessary and individuals can get all the details they need on a property from the comfort of their home. From virtual tours to interactive virtual hotspots and more, the creative potential of this technology serves to improve the experience of clients when it comes time to buy or sell residential or commercial properties.
10 years ago, the virtual reality industry was just getting started. A few games had come out that was barely functional, along with the occasional flight simulator.
Just in the past couple of years, everything has changed. Now there are over 40 million active VR users around the world, with that number expected to triple by 2020. 75% of top brands from every industry have released VR content this year.
Now that the technology is stable and easily accessible, brands and businesses are increasingly looking to VR technology and incorporating it into their marketing strategies. In fact, online marketing consultants will often suggest exactly that for businesses who want to expand their reach in innovative ways and tap into the next big trend in consumer technology.
Plenty of big companies understand they missed the initial tech boom of the internet for growing their business and do NOT want to miss out on the coming revolution from virtual reality.
What makes VR marketing so compelling – is that you can now offer people an experience that is fully contained within the simulation and can expand the user’s line of empathy unlike anything before.
Once you can get someone to truly understand and relate, making a sale is much more likely aside from buying a programmatic banner ad online or a pre-roll commercial on YouTube.
Here is a look at several examples of all the different industries that are using VR to creatively market their products, this is the first of many to come!
1. Entertainment – Scale the Wall from Game of Thrones
At the height of the show’s popularity, the minds behind Game of Thrones created a VR experience that allows you to climb the famous 700 ft wall of Castle Black featured prominently during the series. They did this back in 2014 before the 6th season was aired, and a video of the experience went viral and no doubt helped the already surging popularity of the show.
2. Furniture – Go to Ikea (Without Going to Ikea)
For some people, going to that giant warehouse full of prefabricated rooms is part of the fun of furniture shopping. For others, just the thought may produce anxiety, or maybe the long commute is the biggest detractor. In an attempt to make their store more accessible, Ikea developed an excellent virtual store experience, even including the ability to purchase what you see “in the store”. Now you can mispronounce all that Swedish furniture from the comfort of your home.
3. Medicine – “A Walk Through Dementia” for Alzheimer’s Research
A UK based Alzheimer’s research company developed a project called “A Walk Through Dementia” which aims to give people an intimate look at a disease that affects so many but is understood by so few. Users can experience what it’s like to go shopping, be on the road, and be at home while affected by Alzheimer’s and dementia. It was developed through the combined efforts of researchers in the field and people who suffer from various forms of dementia. It is available for free through Google cardboard.
4. Charity – TOMS “A Walk in Their Shoes” Campaign
Since the company’s founding, the central idea of TOMS is that when you buy a pair of their shoes, you help a child in a developing country get the shoes they need. This charitable aspect of their company already drew many people, but the marketing team at TOMS took it one step further (no pun intended). Now with the use of VR, customers can tag along on one of the company’s charity initiatives in Peru. Just like with the Alzheimer’s experience, this kind of immersion can strengthen the emotional attachment that people have to these issues.
5. Apparel – Climb a Mountain with Adidas
When Adidas launched their TERREX line of outdoor apparel and accessories, they created a pretty inspiring experience to go along with it. VR users could join professional mountain climbers Ben Rueck and Delaney Miller as they climbed mount Delicatessen. Not only did this introduce people to Adidas new line of products, but it also inspired a new generation of climbers who, without the VR experience, would never have realized they had a passion for it.
6. Awareness Campaigns – Become a Prisoner and “Step to the Line”
Many activists and entrepreneurs see VR’s potential to give people an experience that they otherwise might never know about. After all, empathy comes most often from personal experience. One example is the project created by Within and Defy Ventures, who partnered together to create a short film that documented the lives of people incarcerated in a California maximum security prison.
The film is called Step to the Line, and it aims to show the commonalities of the human experience and break down the social stigmas associated with prisoners and ex-convicts by giving users the chance to see, hear, and be present for the experience of being incarcerated.
7. NYT and 1 Million Subscribers
In 2015, the New York Times sent over one million cardboard headsets to their news subscribers. As well as a VR program with feature films like The Displaced and Seeking Pluto’s Frigid Heart.
The New York times spearheaded media in VR and started the story with The Displaced – a story about three refugees who were driven from their homes. Not a normal NYT report, but a technological communication method that enables more feelings.
Step inside the story and begin to understand what these people are going through on a more personal level of adversity.
8. McDonald’s – Happy Goggles
In 2016, McDonald’s launched a virtual reality campaign, Happy Goggles in Happy Meals. All you need is a smartphone. Once setup you can experience various interactive VR games that children can enjoy. Unfortunately, this is currently only available in Sweden.
McDonald’s has developed a VR game that is both educational and fun. Ski game called “se upp I backen” (in English that means watch out on the slopes) and its goal is to help people understand slopes and avoid obstacles and endorsed by the Swedish alpine ski team.
9. Samsung VR Rollercoaster
Samsung has partnered with Six Flags to create rollercoaster experiences. Riders not only experience the amazing thrills of a real rollercoaster at Six Flags but also accompanied by a VR experience that matches the ride.
10. Lowe’s Training Simulation
Lowe’s, a major retailer in the United States has created virtual reality rooms in it’s stores. When designing a house, you can actually see what a room will look like with various proposed changes. Select different features and placing them throughout the various rooms. This has proven to be very integrative and smart technology, by any standards.
In conclusion, this is just the beginning of major corporations using virtual reality and bringing it to the masses. The next generation of commerce is experiential marketing and virtual reality is the perfect engine and platform to do so.
According to Markets and Markets, the VR market was valued at $5.1 billion in 2017 and is expected to reach $34 billion by 2023.
Next wave of computing is virtual reality-based entertainment, education, and connectivity. As a content creator, it’s important to understand these platforms and build a following on top of them.
VeeR VR is a leading VR content platform with the mission of empowering everyone to create and share virtual reality content. Within a year of its establishment, it’s become a phenomenon sweeping through the 360 community and has been featured on Google Daydream, Samsung Gear VR and HTC Vive. While we believe that VR is the future of storytelling, we want to encourage all VR lovers to create beyond boundaries.
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