VR in Entertainment

What is watching a movie really about? Why do people enjoy movies? It is all about the Experience. The feeling of escaping one’s own reality, to be transported into a new world. Joseph Campbell, a mythologist explains that the reason why people are attracted to stories is;“That what we’re seeking is an experience of being alive so that we can actually feel the rapture being alive.” http://www.butler-bowdon.com/joseph-campbell---power-of-myth.html

Virtual Reality in Sports

We have noticed some drastic technological advancements in our everyday sporting codes, which have made playing, scoring, umpiring and watching a lot easier, more enjoyable, and a lot fairer. Such advancements include The Hawk-eye technology in tennis, Goal-line technology in soccer, etc.

Virtual Reality in Social Interactions

Virtual reality will connect people and take socialisation to a whole new level.

Smart software and sensors are designed to enable detection of facial expressions and motion when one is using VR technology. The parties involved would be able to feel the realistic existence of the other person. This would allow people to make friends easier, keep in touch with loved ones, maintain long distance relationships and even hang out with friends. Communication would become much more convenient and internet trolls can be avoided.

Virtual Reality in Economics

With the new development and advances in Virtual Reality, many sectors of the economy will face advantageous changes. Virtual Reality has the potential to improve consumer living as it is predicted to reduce the costs of living. This would strengthen an economy of a country and improve poverty levels.  With increasing development of VR, the digital divide across the world would become smaller and more people will be connected with the same level of technology.

Virtual Reality in Education

Virtual Reality has taken the world by storm and has intrigued thousands of people worldwide. The release of devices such as the Oculus Rift, Samsung Gear VR and many others have created many opportunities that enabled VR to enter the field of education.

VR in Gaming

Consumer’s choices are driven by their own self-interest. When new gadgets are released into the market, demand for that product is substantially large. Choices that consumers make are also affected by their income, which is why an industry needs to take into consideration all of their target markets. Virtual reality gaming is a fast growing trend amongst gamers around the world which is why they have made the equipment more accessible to users.