● Deloitte Global predicts that virtual reality (VR) will have its first billion dollar year in 2016, with about $700 million in hardware sales, and the remainder from content
● Total VR market size is $16.1 Billion of which hardware constitutes to $8.4 Billion and software, $7.7 Billion
● VR headset market to rise from current size of $37 million to $2.8 billion by 2020
● By 2020, Augmented reality & VR markets will reach $150 billion and will be disruptive for Mobile
● Oculus Rift, a Virtual Reality headgear, set a milestone in the VR industry when it raised $2.5 million on Kickstarter via crowdfunding and got acquired by Facebook for $ 2 billion
● Microsoft and Nasa have jointly developed the software that will allow astronauts to remotely walk around Mars while using Microsoft’s wearable headgear, HoloLens
● Sony has announced Playstation VR, its upcoming VR headgear that is compatible with PS4 gaming systems that releases in Oct. 2016
● In 2015, Netflix announced partnership with Oculus, which makes this an iconic media integration between a content creator, platform and display.
● 76% of the Millennials are interested in trying out interactive entertainment
● 66% of of the individuals are interested in viewing TV, Movies and video in VR
● VR has a phenomenal social impact. 81% of those who experienced VR talk to their peers about their experience. 79% want to try it again.
● Google is adapting android to compete Facebook in the VR wars
● VCs in Silicon valley are actively funding the VR projects
● Google’s classroom project, Expeditions, has been introduced in over 100 classrooms where the students are taken to VR tours through natural, architectural and Martian wonders
● Mobile companies like Samsung, with its Gear and HTC with Vive are increasingly focusing on innovating wearable headgear and other wearable technology
● Children are actively adapting to VR technology, thus surging the possibility of its use within the education industry.