Software Companies Pushing To Raise The Scope Of Virtual Reality
There are several different areas in VR currently being focused on by firms to corner a slice of the growing market.
Virtual reality (VR), at the beginning of the 21st century, was a concept and an idea that only the TV and film industries could understand and initiate. VR's first major success story is 3D glasses. However, VR can also be used to create bespoke VR games. With software companies investing billions in the sector, the opportunities are expanding. To capture a share of this growing market, there are many areas that VR firms are currently focusing on. Mixed reality VR glasses, immersive virtual, VR software delivery and metaverse systems are just a few of the areas being targeted by firms to capture a share of this growing market. Arnie Abramyan is the CEO of Advibe. He uses Agile software development methodology. This allows teams to break down the long requirements, build, test, and deliver software faster and more often. His comments about VR's growth included, "We're seeing large investments throughout our society in this area. There is a lot happening, regardless of whether it's in the web3 or other areas. The huge sign that more bets will be made in VR was Facebook's switch to Meta.
'Honestly it's a good way to go. To immerse individuals in a world, story, or scenario is a powerful device to utilize.'
Metaverse VR systems are being designed primarily for the mass social gaming experience that games such as Fortnite have popularized. Even from a hardware standpoint companies are pushing to launch their unique versions of VR headsets to support the software functions that are being introduced.
LOS ANGELES, - APRIL 23: A view of Fortnite featuring Travis Scott Presents: Astronomical on April ... [+] 23, 2020 in Los Angeles, United States. Travis Scott + Cactus Jack have partnered with Fortnite to produce Astronomical, an in-game experiential performance and the world premiere of a new song. (Photo by Frazer Harrison/Getty Images)Getty Images Software companies are also investing in technologies to optimize the delivery process of virtual reality. Making it cleaner from a visual/audio perspective to aid in realism and quality. Similar to the development of gaming from the PlayStation to the PlayStation 5, expect to see graphics delivery increase substantially as investment grows. Governments have taken notice also. Wang Jiangping, an official at China's Ministry of Industry and Information Technology (MIIT), said at the country's annual VR conference last month that Chinese research firm Tuoluo Research reported that funding, merger and acquisition volume in China's VR and augmented reality (AR) industry reached 6.19 billion yuan ($871 million) in the first half of 2022, a 67 per cent jump from one year ago.Chinas Deputy Minister of Industry and Information Technology Wang Jiangping speaks during a State ... [+] Council Information Office press conference in Beijing on January 26, 2020. - China on January 26 expanded drastic travel restrictions to contain a viral contagion that has killed 56 people and infected nearly 2,000, as the United States and France prepared to evacuate their citizens from a quarantined city at the outbreak's epicentre. (Photo by Noel Celis / AFP) (Photo by NOEL CELIS/AFP via Getty Images)AFP via Getty Images
Immersive VR solutions are an area that is specifically being looked at with the capacity to aid in the development of numerous sectors in the present day. Whether it's a military application to train soldiers, helping realtors sell homes virtually, or major sports teams develop new training methods, software companies are plugging this area with the potential of new revenue sooner rather than later.
Abramyan opined, 'The Agile approach breaks down a project into small units, which helps the project team to focus on high-quality development, testing, and collaboration. Conducting testing and reviews during each unit improves quality by identifying and fixing defects quickly. It's a system that companies should use within this time, that we use, to optimize function and time. There's so much more optimization to be done in the world of virtual reality. The opportunities are very much endless in regards to the application. But with that software development companies need to adjust their processes to make them as efficient as possible.'
Being a serial entrepreneur himself with stake holdings within industries such as Restaurants, Softwares, and Retail, Abramyan sees scope for VR usage across multiple industries. Abramyan's vision is also to build a hub for public figures, social media influencers and online personalities with podcast rooms, green rooms, recording studios and much more. He organizes his thoughts and projects with a software his company built called Swiftnote which helps him save content from the internet and manage his projects.
He concluded, 'The cross-functionality of trade will be very interesting to witness also. VR combined with robotics or the medical trade for example. So many elements that can be put together to create something extremely disruptive. It's certainly an exciting time. Being present at the very beginning of legalization of the cannabis industry this emanates a similar level of anticipation in regards to potential.'Arnie Abramyan - Software Companies Pushing To Raise The Scope Of Virtual Reality.Advibe
According to the International Data Corporation (IDC), global spending on augmented reality and virtual reality is expected to reach $13.8 billion this year and is also set to increase to $50.9 billion in 2026. These numbers indicate that the five-year compound annual growth rate for AR/VR spending will be 32.3%. Some of the most prominent examples of software being plunged into augmented reality include gaming, industrial maintenance, and training. Ramon T. Llamas, research director of Mobile Devices and AR/VR at IDC, said last month.
'The AR/VR market has been taking slow but sure steps in recent years and is poised to take longer strides in the years to come. Recently announced and upcoming hardware from major brands showcase clear improvement from first-generation devices. The deeper proliferation into current use cases and the addition of new ones highlight the versatility that AR/VR brings. And along with these is a whole host of services to help make them happen. The result: a maturing market ready to thrive for consumers and commercial users alike.'