In a report published last week, Deutsche Bank analysts are predicting virtual reality will finally see adoption growth in 2016.
Beyond the niche market
For the last three decades, the space has been confined to a niche, limiting the development of premium content for virtual reality. However, with Facebook’s Oculus Rift, Sony’s Project Morpheus and HTC’s Vive all set to ship in 2016, this chicken-and-egg problem may finally be solved. Next year alone, Facebook may already earn upwards of $600 Million just from virtual reality transactions at 50 percent margins. According Deutsche Bank, the virtual reality market will become a $7 billion industry in 2020, with mobile also being a great catalyst of virtual reality growth.
Seeing is believing
Those are definitely big numbers and we have no doubt, at Mighty Things, that virtual reality will open the doors to a whole new world in the few years to come. Take the example of virtual reality drawing demonstrated by Disney animator Glen Keane. His name might not sound familiar to you, but Keane is the artist behind Disney classics such as Aladdin, The Little Mermaid, and Beauty and the Beast.
“By putting tools in your hand that can create in virtual reality, I can put goggles on and I just step into the paper and now I’m drawing in it” – Glen Keane
Watching Keane draw in 3D space with a HTC Vive VR headset and walk around his characters as if they were fully three-dimensional is utterly magic. The future looks pretty hopeful. You must watch it.