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Virtual Reality

Introduction

What is Virtual Reality?

Well, the definition of virtual reality comes from the meaning of the words virtual and reality. Which means near, and what we experience as humans, also known as reality. A more technical definition would be an emulation of a specific type of reality. Despite being a relatively new technology market, virtual reality is transforming everything taking with its stride

History

The idea of virtual reality came in to play in 2010, when entrepreneur Palmer Lucey designed the first virtual reality headset-the Oculus Rift. In 2012, he set up a Kickstarter page showcasing the prototype and had put the project up for funding. The project gained traction quickly, and had raised nearly 2.5 million by roughly ten-thousand pledges (Kickstart.)

Oculus Go

The Oculus Rift was the pioneer in Virtual Reality headset, and is one of the most popular headsets in the market. The Oculus Go starts at 199, and offers impressive visuals and comfortable fit. The content library offers a wide variety of genres, such as 1,000 apps, games, movies and experiences available at launch (TechRadar).

Playstation VR

Despite launching after the Oculus series, Sony has secured the number one spot in VR headset sales. It controls roughly 43% of the market shares, and has sold over 3 million units (Statista). It has made its introduction to consoles which use VR and its numbers speak for its success in the market.

HTC Vive Pro

Looking at the higher end of VR headsets, the Vive pro offers us a taste of what we should expect if we choose to buy a premium VR headset. HTC controls a small 12.9% of the market share (Statista). Its pricing starts at a whopping 699, a significant increase than the standard VR headset price range.

Conclusion

In summation VR is booming technological Market which is on the rise. The Oculus VR, gave this industry the jumpstart after getting enough funding through its kickstart page. Despite being purchased by Facebook, it has been surpassed in sales by other big companies such as Sony but is still above the likes of HTC. VR headsets have a competitive market with companies offering a wide variety of products to choose from.