The concept of virtual technology continues to pique the interest of consumers and entrepreneurs all over the world. It is evident this technology will make an impact on our daily lives, although it remains unclear what our society can expect exactly. The gaming industry has taken a liking to creating VR environments, yet that only appeals to a niche market for now.

Virtual Reality Is Capable of Doing Many Things

To understand the potential implications virtual reality will have on our society, one has to look further than what is available today. Throughout 2016, there has been a lot of focus on VR in the games industry, with companies such as Oculus, Samsung, and HTC launching their own headsets. Bringing virtual reality to the home environment will be a slow process, as new use cases will need to be identified along the way.

Several industries will be affected by the developments in virtual reality technology, including healthcare, our work environment, and even the educational system. Interacting with digital concepts, such as the internet, will take on a whole new dimension. Right now, the internet is literally a few taps away, yet virtual reality will allow humans to immerse themselves completely.

Enterprises all over the world are investing money and effort into establishing their VR presence at an early stage. The amount of revenue generated by VR and augmented reality combined will surpass US$120bn by 2020, indicating a huge opportunity is ripe for the taking. The conceptualization industry – real estate

, remodeling, etc – will see tremendous gains from using VR. Virtual in-home tours that allow interaction with objects will create a new ecosystem for consumers to enjoy.

Virtual reality is also more than capable of transforming the marketing industry as we know it today. Experiential marketing, as this trend is called, will allow for a more hands-on experience when looking at colleges, checking out a new workplace, or even finding the location for your next party. Some companies even provide a platform where other businesses can create guided virtual reality tours, allowing consumers to not only “visit” faraway places, but also learn something from the experience in the process.

Perhaps the biggest change – and challenge – presented by VR technology is how we will think differently about education. To be more precise, learning new skills as always, been difficult without a hands-on approach right away. Virtual reality can ease the transition into a new skillset. The US military has been experimenting with this technology for some time now. In the medical sector, VR can make a big difference to create more hands-on experiences for future surgeons, without requiring a human body to dissect.

It is not hard to see why the potential applications for virtual technology are limitless. In fact, the only limitation is our imagination. A lot of work still has to be done before VR can even become a mainstream – and affordable – trend, even though things are slowly heading in the right direction. As companies and scientists discover new use cases and opportunities, the virtual reality ecosystem will only become more attractive.

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