StartupTalky

Tag: VR Market

  • How Facebook’s VR headset will Revolutionize Ads?

    Facebook which is one of the major social media platforms has recently announced about its plans to launch its fitness tracker and also tried to get into the smartphone industry in the past with the launch of HTC. The company now is testing VR ads on the Oculus platform. In this article let’s look at how the VR ads would revolutionize the advertisement industry.

    Facebook VR – Latest News
    How Facebook VR will Revolutionize the Advertisement Industry
    Concern regarding The data
    Future Products of Facebook
    FAQ

    Facebook VR – Latest News

    On 16 June 2021, the company has begun testing advertisements on the Oculus headset which is a Virtual reality headset. This testing was done with partnerships with several game developers which include Resolution games.

    The small scale test of VR ads is expected to be the bridge between the company’s main revenue that is selling digital ads and the investments of the company that is growing in the field of Virtual Reality hardware which is expected to be the next big thing in the tech industry after smartphones.

    Facebook has conveyed that the test is a way in order to help the developers to earn revenue from the Oculus platform. The Ads are expected to appear on the games that are used on the Oculus platform and an action game Blaston that is developed by Resolution games.

    Facebook also added that the users of Oculus will have an option in order to choose not to see an ad from an individual brand or company or to even hide certain ads.

    How Facebook VR will Revolutionize the Advertisement Industry

    Many experts had already predicted this move from Facebook for the past few years. The company is planning to expand the system using user feedback but the big question is, how will Facebook utilize the ads with the data received from the VR headset.

    Oculus headsets are estimated to be a Gold Mine in regards to the information about you. The headsets are said to capture information such as the motion of head and hand and even tracks the pictures of your surrounding through a camera and a microphone.

    The future headsets are expected to have much more features such as monitoring the eye movement and noting down what catches the attention of your eye.

    If Facebook collects the data that is obtained from the VR headsets or the devices in order to run targeted ads, it would be a very personalized ad and the company will have a track on the utmost private information about the person which sometimes even the individual will not be aware of.

    Facebook VR Ad test on an VR action game - Blaston
    Facebook VR Ad test on an action game – Blaston

    Top 7 AR Startups in India to Watch Out For in 2020
    AR(Augmented reality) a term that was first coined by researcher Tom Caudell in1992. AR is a technology that allows users to interact with virtual content inthe real world. A great example of AR is a game that went quite popular, PokemonGo. This technology has been around for some time and becaus…
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    Concern regarding The data

    Regarding the data concerns, Facebook has conveyed that as of now the data that is collected by the headsets remains in the headset and added that the ads are totally different from the headset and is a different segment. The company also said that they have no plans to come up with targeting ads as of now.

    But however, as Facebook moves much more into Virtual reality and Augmented reality hardware, using the special hardware features for advertising is expected to become an increasingly attractive prospect.

    Future Products of Facebook

    Facebook is also planning to release a fitness tracker and has also discussed about AR glasses that will be used for interacting with the world. These products are expected to be built in a way that will collect information and insights about your surroundings and your body. This makes it hard to believe that Facebook doesn’t have a plan to monetize these products by running targeted ads with them.

    However, even the head of Facebook Reality labs has conveyed that the company does not have any plans and is not really focused on the business model questions regarding the experimental hardware of the company. Facebook has also conveyed that they are working on exploring new ad forms that would be unique to the VR.

    How Facebook-owned Instagram is Monetizing Instagram Reels
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    Conclusion

    Oculus is the first test that is done by Facebook and is one of the biggest tests for advertising on its platform. As the company expands the ads to new devices and other hardware, we will have to observe how it uses ads and the new data types.

    FAQ

    Does Facebook own Oculus VR?

    Yes, Facebook acquired VR company Oculus in 2014 for an estimated US$2.3 billion.

    What data does Facebook get from Oculus?

    Facebook stores information about what you do in VR, including basic account functionality (like knowing which games you’ve purchased), and advertising (like showing you an ad in your Facebook feed for Oculus games you recently searched for in your headset).

    Who is the CEO of Oculus?

    Brendan Trexler Iribe is the CEO and co-founder of Oculus VR, he is an American game programmer, entrepreneur.

  • How VR boosted the Growth of the Real estate Industry

    The Real estate industry is undergoing an innovative transformation. There is a sudden change in the industry from the traditional ways towards a new and innovative way which is through Virtual Reality. VR has also transformed the functioning of the industry.

    VR technology has helped the Real estate agents and companies in getting more clients, delivering top-end services, and growing their businesses. Let’s look at some of the ways Virtual Reality is transforming the Real estate industry.

    Virtual Tour of Real Estate
    Virtual Furniture
    Visualizing Real estate Models
    Less confusion
    Editing Property according to preferences
    FAQ

    Virtual Tour of Real Estate

    Virtual Reality has made house tours much easier. Everyone would want to take a look at the Real Estate and only then proceeds with the buying of the property. Many a times pictures wouldn’t be satisfactory nor would you get a clear understanding of the structure of the property.

    There are a lot of other problems faced as well which includes lack of time to visit the place, unable to travel if the property is far away. All these problems existed in the Real Estate industry and now with the use of Virtual Reality, these are eliminated.

    VR helps you visit the property virtually and makes you feel like you are physically taking a tour of the property. All these are possible even without stepping out of your house.

    It helps you visit multiple properties within a matter of time and later decide on visiting the place. It helps you save a lot of time and provides you a clear idea.

    Virtual Furniture

    A real estate place filled with an adequate amount of furniture will always look better than an empty Real estate space. A Real estate space filled with furniture would be easier to sell and would impress you more than an empty one.

    According to a report by the National Association of Realtors, 77% of the Real estate agents have claimed that a home filled with furniture has helped the buyers to imagine their future homes.

    Filling actual furniture in a newly built house or an empty house is going to be a lot of investment and would cost more for the agents. Virtual Reality helps in showcasing virtual furniture which helps the buyers to imagine their future home and picturize it in an easier way.

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    Visualizing Real estate Models

    Selling an architectural idea has always been hard. Most of the time the design which is sketched by the architecture would be satisfying but sometimes the end model wouldn’t come up to your expectations.

    If it is a bigger project you can find architects or developers coming up with a small model of the project with the roads, community, buildings, etc. in a miniature form. For the interiors most of the time the developers would have to invest in setting up a similar design in a showroom.

    This again would require a lot of investment from the developers and would consume a lot of time. Virtual Reality helps in solving these problems and would help in visualizing the interiors and exteriors of the properties which are yet to be constructed.

    Through Virtual Reality, the client can easily set his expectations and he would know what the end property or the model would look like.

    Number of VR Headsets sold Globally
    Number of VR Headsets sold Globally

    Virtual Reality Market (Education Sector) Insights| Everything you need to know
    In a world where change is constant education sector has remained stagnant for anumber of years. However, the pandemic lock down has modded the basic outlook ofa traditional classroom into real-time online sessions. This is a new way ofeducation where schools and colleges are operating from home.…
    StartupTalkyHimangi Khare

    Less confusion

    In most cases when you move to a new house, you would find it hard to locate the switches or the settings of the devices in the place. The Real estate agents or the owners of the space will have to keep on communicating with you according to your requirements and most of the time it won’t be possible.

    All of your queries and problems being answered would depend on the availability of the owner or the agents. Here, Virtual Reality will help the tenants in effectively communicating with their owners or agents.

    A Virtual tour about the settings of the house, the uses of different switches, and other technical settings will provide clarity for the newly moved-in tenants. It will be a little bit time-consuming but will avoid a lot of confusion and help the new tenants to get used to the place much more easily.

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    Editing property according to preferences

    During the virtual tour  if a client wishes to change the design or add a piece of new furniture in the design, He/she can add it at that moment. This will help the buyer in adding his designs. He/she will be able to edit the interiors or bring small changes to the exteriors according to his/her preferences.

    If a person is taking a virtual tour at a house and likes the furniture used in it, they can later go online and shop for similar products.

    FAQ

    What are the free Virtual Tour Software?

    Lapentor, Marzipano, Makevt, Vtility are some top free Virtual Tour Software.

    How much does real estate virtual tour cost?

    The average cost to receive a Virtual Tour of a property is $350.

    Do virtual tours help sell houses?

    Virtual tour is a great way to generate interest of the buyers, as it provides buyer a clear idea of the property.

    Conclusion

    Virtual reality has transformed the real estate industry making the work easier and in a convenient way. It helps both the buyers and agents to save their time. Virtual Reality has already started to change this sector. In the near future, we will be able to see much more inventions and VR becoming more common in many sectors.

  • Inside The Virtual Reality Market (Education Sector)

    In a world where change is constant education sector has remained stagnant for a number of years. However, the pandemic lock down has modded the basic outlook of a traditional classroom into real-time online sessions. This is a new way of education where schools and colleges are operating from home. As amazing as this may seem, it’s not the end of taking it to the next level. Virtual reality has already stepped into the education sector as is believed to flourish in a span of several years.

    Virtual reality apps for education are enabling students to connect and learn with their classmates without being isolated from the original world. Along with this as students are already well versed with virtual reality PlayStation, major companies are emerging with the plans to rapidly develop more virtual spaces.‌‌

    Microsoft’s AltspaceVR is one such example in the education sector as it permits students to be in an interactive session with their batch mates that too in quirky avatars. Not only this, but students are also allowed to participate in events and activities.‌‌This trend will surely have a positive impact on student lives thud increasing the virtual reality market in the education sector.Students have been dealing with the conventional classrooms with a lack of engagement. With the boost in virtual reality in education, daily learners will be exposed to a much advanced three-dimensional virtual learning environment. ‌‌

    Virtual Reality Market in the Education Sector

    The education market is forecast to grow from $ 9.3 billion to $ 19.6 billion in the span of 5 years. i e 2018-2023 with CAGR of 16.2 % as the Compound annual growth rate during the forecast period. The market for Augmented reality(AR) and Virtual Reality (V R) is driven by many factors like corporate training, education, simulation, etc. the overwhelming participation and engagement in augmented and virtual reality has sparked innovation and interest globally and it is deemed to establish an exclusive market worldwide.‌‌

    Considering the education sector for Virtual reality, it has the full fulcrum potential to grow by $ 6.34 billion thus accelerating the market’s growth thrust in the education sector in the forecast period of 2020-2024.

    Uses of Virtual Reality in various sectors
    Uses of Virtual Reality in various sectors

    Virtual Reality Market Vendors in Education Sector

    While being at a steady pace, markets do hold their positions in the slow-growing segments in the V R industry however vendors should pay heed to the fast-growing segments to make the most of the situation. Barring the growth opportunities, Virtual reality will surely challenge the immense growth of every market participant. HTC Corp., Lenovo Group Ltd., Microsoft Corp., Sony Corp., and Virtalis Holdings Ltd are some of the participants/ vendors in this concentrated market.

    Even though the COVID-19 lock down continues to drastically affect the status quo of multiple industries, the instant impact of the pandemic is considered to vary. A few organizations are yet to register a drop in the shares while a few companies will remain unhindered and will show groundbreaking growth opportunities.

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    The global virtual reality in the educational market had a fair estimate of 939.51 million in 2019 and is expected to reach 23492.31 million at a CAGR of 43% over the forecast duration. The top market vendors are making sure that the leading edge of virtual reality is coming closer to the students and learners, globally. The leading companies in the V R educational sector market helping to embed learning resource are:

    • Google LLC
    • Microsoft
    • Facebook Inc.
    • PTC
    • Wikitude GmbH
    • Magic Leap Inc.
    • DAQRI
    • Blippar Ltd
    • Upskill
    • Continental AG
    • Visteon Corporation.
    • EON Reality.
    • Apple Inc
    • Intel Corporation

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    Virtual Reality in education sectors (key markets)

    The largest virtual reality market was held by North America in the education sector in 2019 and the region offered a massive growth value to the vendors during the forecast period. The emergence of considerably low cost and affordable V R gear and the escalated emphasis of Virtual reality’s applicability in the V R market observed significant growth, especially by North America. Even though 34% of the market growth originated from North America, the US is quite evaluative of the slow market growth in various other regions.

    North America is anticipated to have a pleasantly addressable market value of $258.6 billion for AR and V R during 2019-2026. Being the largest market for Augmented reality and virtual reality North America will represent a remarkable CAGR of 32.3% in 2019-2026.

    Growth of virtual reality market in North America
    Growth of Virtual Reality market in North America

    Virtual reality affordability

    The exponential growth in virtual reality devices usage is credited to the technical advancements of several major businesses. Even though the adoption of V R devices was rendered tough due to their expensive setups, the growing affordability of applications and setups is bringing Virtual reality closer to the educational sector.

    V R Cardboard by Google or Gear V R by Samsung has helped considerably to reduce the prices. Along with this H.T.C, Sony, and Mega companies like Oculus have minimized the price ranges of their V R devices thus accelerating the emergence of Virtual reality in the educational sector

    Insights on Virtual Reality Leading Companies

    Google Cardboard

    Google developed a virtual reality platform called ‘Google Cardboard’. The platform is proved to be quite cost-effective as it simply includes inserting one’s smartphone inside a cardboard viewer. Making it extremely accessible for students worldwide and to increase interest in V R among the new generation. In January 2016, Google announced that it had shipped over a thousand compatible apps, over 5 million cardboard viewers in just the first 19 months.

    Google claimed, 350,000 hours of watch time of YouTube videos in V R, and over 5 Lakh students indulged themselves in V R field drops through the expedition program.it hit the 15 million viewer units mark worldwide by November 2019.

    Microsoft HoloLens

    Bill Gate’s ‘Microsoft HoloLens‘ is a pair of mixed reality smart glasses who’s initial prototype name was ‘Project Baraboo’. Being the first head-mounted mixed reality platform, it gained quite the popularity and PR

    Many considered Microsoft’s Holo Lens limitations to be a consumer product. Its $3500 pricing and designing features are believed to be bent towards simulation, engineering, training, etc, and also considered companies to invest millions of dollars to justify Hololens’s pricing when compared with the $400 Oculus Quest headset.