Virtual Reality or VR is a simulated 3D environment that lets users experience and interact with virtual surroundings that approximate reality perceived through the users' senses. VR is not just for entertainment, it is also an important tool for education, commerce, science, etc. There are 3 types of vr:
Non-Immersive Virtual Reality
A common VR category featuring a computer-generated virtual environment where the user simultaneously remains aware and controlled by their physical environment. Video games are a prime example of this category.
Semi-Immersive Virtual Reality
This category provides an experience partially based on a virtual environment. It is apt for training and educational purposes with graphical computing and large projector systems. Example of such VR are flight simulators used for trainees in aviation.
Fully Immersive Virtual Reality
This category generates the most realistic simulation experience, including sight, sound, and sometimes olfactory sensations. Car racing games are one example of this type of VR. Fully Immersive VR is a field which is still developing.
From games to entertainment, you can find VR almost everywhere. Here are some industries where VR is being used:
- Healthcare: The healthcare industry is using VR in surgery to enable surgeons to interact with medical devices in VR and practice surgery on virtual bodies. This helps to increase their familiarity with new devices and proficiency in implanting them.
- Retail: Metaverse is set to change the face of online shopping. Thanks to VR retail experiences and body-scanning technology, clothes can be tried out in VR like in-person trials. This is a time-saving technique that can help reduce the environmental cost of production and the expenses incurred in shipping fast fashion.
- Automotive Industry: VR saves the automotive industry millions by reducing the number of prototypes built per vehicle line. It allows designers and engineers to easily experiment with the look and build of a vehicle before commissioning expensive prototypes. .
- Tourism: During Covid-19, many were unable to visit the world popular tourist destinations, scenic views, and landmarks in person. But thanks to VR, they could visit them while sitting at home! VR technology can be used to experience a holiday without actually going on one! It saves time and money without comprising on the experience
- Architecture: The architecture industry is changing because of VR. When a renovation work is processed in VR, the clients can be shown how their living space will look like after the alteration. Even though architects use 3D models to design prototypes, immersive tools help them understand and explore the dimension of space to the maximum extent possible.
VR is gaining popularity and has a huge scope for growth. Its valuation was $21.83 billion in 2021. It is expected to grow at a Compound Annual Growth Rate (CAGR) of 15% from 2022 to 2030. The number of users in the VR market is expected to be around 505.3 million by 2027.
In India, the Augmented Reality (AR) and VR market is booming for multiple reasons, including technological advancements, increased digitalization, penetration of Head Mounted Displays (HMDs) in the gaming and entertainment sectors following COVID-19, etc. Continuous growth in this sector is being fueled by emerging technologies like Artificial Intelligence (AI), the Internet of Things (IoT), cloud computing, etc.
Virtual Reality or VR is a simulated 3D environment that lets users experience and interact with virtual surroundings that approximate reality perceived through the users' senses. VR is not just for entertainment, it is also an important tool for education, commerce, science, etc. There are 3 types of vr:
Non-Immersive Virtual Reality
A common VR category featuring a computer-generated virtual environment where the user simultaneously remains aware and controlled by their physical environment. Video games are a prime example of this category.
Semi-Immersive Virtual Reality
This category provides an experience partially based on a virtual environment. It is apt for training and educational purposes with graphical computing and large projector systems. Example of such VR are flight simulators used for trainees in aviation.
Fully Immersive Virtual Reality
This category generates the most realistic simulation experience, including sight, sound, and sometimes olfactory sensations. Car racing games are one example of this type of VR. Fully Immersive VR is a field which is still developing.
From games to entertainment, you can find VR almost everywhere. Here are some industries where VR is being used:
- Healthcare: The healthcare industry is using VR in surgery to enable surgeons to interact with medical devices in VR and practice surgery on virtual bodies. This helps to increase their familiarity with new devices and proficiency in implanting them.
- Retail: Metaverse is set to change the face of online shopping. Thanks to VR retail experiences and body-scanning technology, clothes can be tried out in VR like in-person trials. This is a time-saving technique that can help reduce the environmental cost of production and the expenses incurred in shipping fast fashion.
- Automotive Industry: VR saves the automotive industry millions by reducing the number of prototypes built per vehicle line. It allows designers and engineers to easily experiment with the look and build of a vehicle before commissioning expensive prototypes. .
- Tourism: During Covid-19, many were unable to visit the world popular tourist destinations, scenic views, and landmarks in person. But thanks to VR, they could visit them while sitting at home! VR technology can be used to experience a holiday without actually going on one! It saves time and money without comprising on the experience
- Architecture: The architecture industry is changing because of VR. When a renovation work is processed in VR, the clients can be shown how their living space will look like after the alteration. Even though architects use 3D models to design prototypes, immersive tools help them understand and explore the dimension of space to the maximum extent possible.
VR is gaining popularity and has a huge scope for growth. Its valuation was $21.83 billion in 2021. It is expected to grow at a Compound Annual Growth Rate (CAGR) of 15% from 2022 to 2030. The number of users in the VR market is expected to be around 505.3 million by 2027.
In India, the Augmented Reality (AR) and VR market is booming for multiple reasons, including technological advancements, increased digitalization, penetration of Head Mounted Displays (HMDs) in the gaming and entertainment sectors following COVID-19, etc. Continuous growth in this sector is being fueled by emerging technologies like Artificial Intelligence (AI), the Internet of Things (IoT), cloud computing, etc.