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Is now a good time to get into the VR industry?

  1. VR-tech
    Kat Haylock

    Kat Haylock Community Editor Staff Member

    Posts: 197 Likes: 81
    7 |

    “This is going to be bigger than I ever expected.” These were the words of Oculus CEO Brendan Iribe when he tested the latest VR prototype back in 2013. Famously prone to the motion sickness that occurs from imperfect VR visuals, this seemed a huge leap for the field: one step closer to a new epoch of technology.

    Three years on, we’ve heard numerous announcements that virtual reality has finally arrived. However, with VR archetype Oculus Rift still retailing at over $700 (560 GBP) – and coming under heavy criticism for its sporadic availability - it’s yet to really hit the mainstream. 

    So when UK Business Forums newcomer JoshBosh started a thread earlier this week to ask if now were “a good time to get into the VR industry”, Brennerz’s non-committal “I guess so” is perhaps the best attitude to the subject. With smart cars and artificial intelligence bots dominating recent tech headlines, we’ve once again found ourselves at the end of another year with no tangible VR footprint.

    As Brennerz went on to write: “I think it might be one of those things that doesn’t take off like people think it will." 

    Virtual reality requires such technological accuracy - so as not to induce motion-sickness in its user - that it may still take years to get exactly right, and even then there’s no guarantee that its pricey gear will explode within the mass market. When Brennerz mentions the decline of 3D televisions, it’s easy to think of other much-lauded tech items that never really found their niche; the Apple Watch and Google Glass spring to mind.

    Though Carl "Excel-Expert" Nixon points out that “virtual and augmented reality (AR) have yet to find the killer app that makes everyone need it,” The Byre argues that gaming and pornography are the areas it will thrive.

    He’s not alone in this prediction: Pokemon Go, the biggest large-scale success the AR industry has seen so far, made $35m (28m GBP) in its first two weeks. The VR video game industry is predicted to generate over $5bn (4bn GBP) from consumers this year, and VR pornography has long been forecast as adult entertainment’s next billion-dollar industry.

    So, if virtual reality is to meet expectations, how does a small business in the UK get involved?

    As Carl writes, while it’s probably too late to get involved in the developing of standards - without heavy investment – there may be “some mileage” in renting out virtual reality kits. Since the biggest challenge the industry is likely to counter is the financial exclusivity of VR, Carl predicts there will be a market of customers willing to pay a small amount to hire out a kit for a week.

    Renting indeed seems the best path for businesses looking to get into VR, with Dan Izzard highlighting the success of Nottingham’s Alt-Gaming, a lounge that features dedicated virtual reality rooms for hire. Contributor Virtual Reality Hire predicts the “rental market will be good for a while yet” with customers eager to hire out equipment at a fraction of the purchase price.

    As for what’s next for the big names in VR? Carl predicts that Microsoft will become a game changer in 2017, citing their Hololens as an exciting step for the industry. Following the success of Pokemon Go, he also forecasts a bigger growth for augmented reality, with its broader range of applications and the fact it “doesn’t shut you off from the rest of the world”.

    Webgeek argues that anyone looking to dominate the high end of the market will have to dislodge Oculus Rift, which has a “massive first mover advantage” in the field.

    As for The Byre? His future for virtual reality is a “fully immersive Nicki Minaj”.  

    #0
  2. Karimbo

    Karimbo UKBF Ace Free Member

    Posts: 1,538 Likes: 150
    VR is a gimmick. the 360 view gets tiring after a while (physically and mentally). you just want to be able to turn around at the flick of a thumb stick, not have to physically turn your entire body around.
     
    Posted: Dec 16, 2016 By: Karimbo Member since: Nov 5, 2011
    #2
  3. Karimbo

    Karimbo UKBF Ace Free Member

    Posts: 1,538 Likes: 150
    btw, you just summarised a forum thread? why?
     
    Posted: Dec 16, 2016 By: Karimbo Member since: Nov 5, 2011
    #3
  4. JoshBosh

    JoshBosh UKBF Newcomer Free Member

    Posts: 6 Likes: 0
    “This is going to be bigger than I ever expected.” These were the words of Oculus CEO Brendan Iribe when he tested the latest VR prototype back in 2013."

    Facebook also bought Oculus for 2 Billion Dollars.


    Interesting views, one thing I agree on is that the prices are to high, I am certain once the prices fall and the public realise just what applications VR can be used for it will "kick off". I don't believe it is a "gimmick", almost like 3D printing was, as a lot of the big players are jumping on board.

    Ed
    VRMarket - The Virtual Reality Marketplace
     
    Posted: Dec 18, 2016 By: JoshBosh Member since: Dec 12, 2016
    #4
  5. HBC

    HBC UKBF Contributor Free Member

    Posts: 32 Likes: 4
    I respectfuly disagree Karimbo, I am in real estate and I strongly believe that VR will be the future as more and more people look to preview properties before travelling. I am extremely interested in it - I am already working on using photospheres from google, as a baby step 1.

     
    Posted: Dec 18, 2016 By: HBC Member since: Nov 29, 2016
    #5
  6. JoshBosh

    JoshBosh UKBF Newcomer Free Member

    Posts: 6 Likes: 0
    Spot on, check this out - http://fortune.com/2015/09/09/virtual-reality-real-estate/
     
    Posted: Dec 18, 2016 By: JoshBosh Member since: Dec 12, 2016
    #6
  7. Karimbo

    Karimbo UKBF Ace Free Member

    Posts: 1,538 Likes: 150
    Getting a team into to VR a property (properly) will cost several thousand. It's not a cheap job. Given how properties are swapping hands so quick I dont see the point in it. Will someone selling their home be bothered to fork out £3000 to get the house VR'd when property is selling like hotcakes and there is likely a buyer living 10 mile radius who is prepared to buy.
     
    Posted: Jan 7, 2017 By: Karimbo Member since: Nov 5, 2011
    #7
  8. Karimbo

    Karimbo UKBF Ace Free Member

    Posts: 1,538 Likes: 150
    Photosphere are photos, VR is completely different. See above post, it's only viable for the multi million pound market where spendign £3000 to VR a property is chump change. However I think this is a very low guess and is likely to cost a lot more than £3000.
     
    Posted: Jan 7, 2017 By: Karimbo Member since: Nov 5, 2011
    #8