Over the past couple of years, the commercialisation of Virtual (VR) and Augmented reality has set the precedent for the future of technology. These devices and software have been heralded by the gaming and entertainment industries, with headsets such as the PlayStation headset and the Samsung Oculus taking the lead in popularity.

The commercial potential and accessibility of this technology has made the possibility for everyday life assimilation with this technology even more of a reality. Although there has been a strong push for these technologies over the past couple of years, they are still at the very early stages of their journey.

With AR and VR still at the beginning stages of their success, it’s interesting to gain an insight into how the technology is set to progress…

The new virtual computing platform:

As previously mentioned, there has been a heavy focus on the gaming and entertainment industries for VR, but in an interview, Mark Zuckerberg, the creator of Facebook, stated that VR could actually be the new platform for business and computing. In order to accept new strategies for interviews, training sessions and even business meetings, we need to break out of our convention and the parameters of the business world.

A product on the incline:

According to Zuckerberg, it will take up to 10 years for VR and AR to become fully assimilated into our everyday lives, at the moment the technology is in the very initial stages. In order to gain traction in the market, companies need to channel their app development to focus on finding useful and interesting ways to assimilate the technology into everyday life.

The company Apadmi has a specialist team of researchers, developers and technicians who assisted with the design and creation of the first smartphone, they are using this knowledge to find the break through programming that will gain momentum in the VR and AR world. This process is in the trial and error stages, and Facebook is currently shutting down up to 500 demo sites that haven’t peaked public interest. This could be a tiresome and meticulous process, but this will be worth the efforts.

Experience the world differently:

Virtual reality offers the user an opportunity to view the world differently. There are so many different programmes and applications that can take people off to far off destinations. People can immerse themselves in this virtual reality, exploring hostile and uninhabited destinations such as the Amazon Rainforest, or outer space. This can be used for a number of different purposes, either as a form of escapism, help with mental illness and for educational purposes.

VR and AR is currently limited to the visual and auditory senses, but as technology progresses, developers will seek to include other senses, reminiscent to the 4D cinematic experience, where touch and smell are incorporated.

Marketing potential:

It has been approximated that the VR market will reach a staggering $22 billion by 2020, determined by both hardware and software sales. Augmented reality is set to make the most headway in the technology, this combined with VR is set to be worth a staggering $121 billion, with the potential for even further future grown.

The slow burning success of this technology is perfect for investment, as it is an ongoing process that is undoubtedly going to increase throughout the years, and because of this particular nature, the opportunity to invest has not yet come to a close.

As shown through the failures of Facebook, there are still some uncertainties in the VR and AR market, and finding the peak of consumer interest and assimilation of the technologies into everyday life will certainly prove to be a struggle, but will also come out triumphant.

As the hardware and software for the technology advances, consumer interest will peak and there will be an influx in purchases, and VR and AR technology will gradually become more mainstream and used in everyday life.