Published On : 06 Aug 2018
Since survival became a non-concern and populations prospered, the zest of humanity has been to experience as much as possible. However, monetary and time limitations, need of physical strength to travel, and safety has hampered larger masses to accomplish their bucket list. For several decades, motion pictures have served the demand for greater experience of different places and things and now 3D visual displays have further enhanced experience of entertainment and information. Another step further is the concept of virtual reality (VR).
With virtual reality headsets, one can experience the feeling of swimming with the dolphins, playing tennis, and play war games, all in the comfort of their living rooms. A number of pioneering technology companies are currently harnessing the possibilities with virtual reality and the market for the headsets for the same is flourishing, according to a recent business publication by QY Research Reports.
Online Gamers Constitute for Greater Bulk of Demand Shares
Virtual reality headsets provide for 3D experience to users while playing games, listening to music, watching motion pictures, and a lot more. And, there is a whole host of VR headsets that are available, ranging from elite ones including Oculus Rift and HTC Vive to the more affordable ones with mobile experience including Google Daydream View, Samsung Gear VR, and DIY Google Cardboard. Some of the key factors driving the demand in the global virtual reality headsets market are: increased disposable income of populations living the urban parts of the World, product enhancement in terms of experience, size, and cost, and a flourishing online gaming and consumer electronics industries.
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Another niche that is emerging for the stockholders connected to the value chain of the virtual reality headsets is the prosperity of the automotive industry. Looks and functionalities of automobiles are vast and manufacturers are utilizing VR technology represent an enhanced experience of their future products. Potential buyers can now understand specifications from a first-person perspective and helps the companies to build a brand name. Audi, Ford, Chevrolet, and Toyota are some of the automotive giants currently leveraging virtual reality technology in some of their elite marketplaces.
Strong Scope for Product Improvements
On the other hand, “there is significant scope of product improvement before larger masses are attracted and the market sees flooding of demand,” says the analyst of the QY Research Report. For instance, current VR headsets are failing to maintain clear picture when the wearer moves head faster or slower than the hardware can render and the software can process it. The images turn blurry and at time just turn off. Additionally, bulkiness of the products also needs to be addressed as it is pretty tough for consumers to wear virtual reality headsets for an hour or more on a stretch.
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