VR Set To Be Big In OZ In 2016 As Retailers Search Out Products

X

Virtual Reality and 360 degree cameras are set to be big in Australia next year.

CES 2016 which kicks off in four weeks is set to be awash with new offerings from Companies such as Sony, Samsung HTC as well as a host of new players looking to break into this complex market which some say will be the future for CE devices.

Retailers such as JB Hi Fi, Harvey Norman and speciality camera and surf shops in Australia are already researching the best products to range. Sporting codes such as the NRL and AFL are already tracking what the NRL in the USA are already doing with VR broadcasts.

The key to virtual reality is being able to deliver a richer audio-visual experience.

Competition among the increasing number of players will bring about diversification and growth of VR applications claims analysts. 

According to the latest estimation by TrendForce, the total value of the VR market (including hardware and software) will reach US$6.7 billion in 2016 and will to skyrocket to US$70 billion in 2020.

“These explosive growth projections actually do not sufficiently reflect just how hot the VR industry is right now,” said Jason Tsai, TrendForce wearable device analyst. 

“The figures do not include the value of non-commercial uses of VR technology. 

For example, the industry is currently pushing the development of free software and do-it-yourself apps. While these projects do not immediately generate revenues for the developers, they have a vital role in the promotion of market growth and innovations.”

Tsai pointed out that the VR industry is at its infancy, so companies behind major social media platforms such as Facebook and YouTube will provide software tools and support services for the production of VR videos. People’s habit of creating, uploading and sharing their works on these platforms will result in the growth of user-generated VR content that will in turn attract more consumers. In sum, social sharing will make VR technologies more influential and more tied to social media platforms.

Other media and entertainment organizations are experimenting with VR technologies as well. 

The NBA in the USA, for example, has introduced VR broadcasting this season to provide fans at home an experience akin to watching games live at the arena.

News media giant New York Times has also launched, NYT VR, a free smartphone app that provides 360-degree VR news videos. NYT VR is a non-commercial venture that uses this emerging technology to get consumers of news more personally involved in reported events and issues.

7f212raf embeded image 1 VR Set To Be Big In OZ In 2016 As Retailers Search Out Products
Sony VR headset

Tsai added, “The development of the VR industry is not solely based on wearable devices launched by major hardware vendors such as Sony, Oculus and HTC. 

Much of the growth drive also comes from independent developers that contribute innovative apps to the VR industry. 

Their market value is not often reflected in the data. Since making apps does not have a high entry barrier, there has been a proliferation of non-commercial software made by students, independent developers and content providers. 

Instead of being guided by immediate commercial interests, they aim to attract consumers’ attention with innovative products. Major device vendors are therefore aggressively courting these independent developers. 

Collaboration with academic institutions is also another way for the industry to diversify the VR content to create more value.
gtv r3 728x90 px VR Set To Be Big In OZ In 2016 As Retailers Search Out Products
211112 4Square Banner Narrow TWE3B 2 VR Set To Be Big In OZ In 2016 As Retailers Search Out Products
728 x 90 VR Set To Be Big In OZ In 2016 As Retailers Search Out Products
728x90 2 VR Set To Be Big In OZ In 2016 As Retailers Search Out Products
Mode II 728x90px product VR Set To Be Big In OZ In 2016 As Retailers Search Out Products
728x90 Tour VR Set To Be Big In OZ In 2016 As Retailers Search Out Products
2 1 VR Set To Be Big In OZ In 2016 As Retailers Search Out Products
thumbnail G415 SmartHouse 728x60 VR Set To Be Big In OZ In 2016 As Retailers Search Out Products
Aspire Vero Banner Intel CCF 728x90 VR Set To Be Big In OZ In 2016 As Retailers Search Out Products
Top Gun Channel News Banner 1 728x90 VR Set To Be Big In OZ In 2016 As Retailers Search Out Products


YOU MAY ALSO LIKE