Remember the internet in 1997? We knew it was going to be big but weren’t sure exactly how. Then our phones became smart and the internet became inseparable from our daily existence. One day we woke up and couldn’t remember how it was to live without it. That's what paradigm-shifting technologies do: they sneak up on us under the veil of leisure and transform into a foundation for living. In 2016, virtual reality (VR) will emerge as that next great technology.
VR technology has become viable only in recent years as advances in processing have powered the technology necessary for tracking along six degrees of freedom, an expanded field of view, instantaneous image refresh rates and haptics.
With Facebook's Oculus headset slated to ship to
consumers this year, VR will enter the mainstream. Sony,
Google, Samsung and the partnership of HTC and Valve
Software are also early leaders.
Photo source: Oculus
Even more exciting down the road is the potential for augmented reality (AR) technologies that blend physical and virtual worlds. Investors are already staking their claims: Microsoft has its Hololens and startup Magic Leap has already raised US$1.4bn in venture capital.
A generation of children may never use a keyboard and mouse, though they’ll have visited the Louvre with da Vinci. Medical students will experience intense, surgical training without the need for cadavers.
Looking for an apartment? Put on your headset and check out 10 of them, all in different areas, during your lunch break. In time, no stone will be left unturned.
Once Facebook invested over US$2bn in Oculus back in March of 2014, the die was cast. Now major players in the industry include billion-dollar balance sheets (Samsung, Sony, Valve) and the who’s who of tech, media and consumer goods. Companies are already changing the way we communicate, interact, shop and educate. Soon, metaverses will connect and extend our virtual existences, and the world will be closer than it ever has been. No company will be able to survive without a VR platform.
Owned by Facebook, Oculus has made significant investments in content. Consumer version 1 (CV1) includes a higher refresh rate and 360 degree positional tracking and will come with a Microsoft Xbox controller. Shipping March 2016, for a retail price of US$600.
Building share in the mobile VR market via Google Cardboard. The company has led a US$542m round of funding for startup Magic Leap and is tightening the supply chain for its Nexus Line of smartphones.
Mobile head-mounted display that allows the user to insert a Galaxy smartphone into the front of the device. Cost: From US$99; heavily marketed by Netflix. Specs: Uses technology provided by Oculus; takes advantage of Samsung Galaxy mobile platform.
HTC is shifting its business focus to VR development while Valve’s is on VR content. The partnership uses open VR, a software development kit.
Razer has a licensing deal with Intel’s RealSense camera technology to build software for VR developers. This specialised gaming peripheral manufacturer has launched open source virtual reality (OSVR).
Mixed-reality computing based on holographic technology. Hardware: Smartglass with onboard processing power. Cost: US$3,000 development kit is set for 1Q16 release.
Yet to layout VR/AR plans, but patent filings and recent hires suggest headset is in the pipeline. Apple dominates the high-end smartphone market. Giving users access to VR would be a big breakthrough for the industry.
Playstation VR takes advantage of a sizable customer base of PS4 users and will be run from PS4 gaming consoles. The headset can be purchased for as low as US$350. Hardware: Less powerful than competitors. Closed system: content delivery is limited. Plans: Sony is reportedly working on a mobile headset design for its Xperia smartphone line.
Industry forecasts vary widely about the potential size of the virtual and augmented reality markets but no one really knows how big it can be. Deloitte Global estimates virtual reality will have its first billion dollar year in 2016.
from
2.5m
VR headsets
and
10m
copies of games sold
Industry analyst firm Statista forecasts a market of $5.2 billion in 2018.
Research firm Digi-Capital’s forecasts are far more optimistic - estimating that AR/VR could reach $150 billion in revenue by 2020.
The realm of VR is about to undergo a radical change whereby haptic technology improves not only kinesthetic feedback, but also enables devices to provide tactile response. Haptics can be adopted through either display panels or accessories such as gloves and bodysuits that allow users to "feel" touch sensations.
At present, capacitive sensors used by Apple 3D touch can mimic simple feelings. While no product containing tactile feedback has been mass marketed yet, there are several prototype products with huge potential for growth and commercialisation.
In the not-too-distant future, you will be able to feel the texture and thickness of the clothing you want to purchase before making a decision. You may even be able to try on clothes before deciding whether or not to make a purchase, gauging not only the look and feel of the item, but also the fit.
Gaming, online shopping and creative industries are about to become a lot more interactive as wearable devices and haptics take VR to another level! Skye Chen picks the winners in her new Feeling the future report.
