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Reality systems as these two technologies offer new capabilities to the enterprise. Remote working, digital twins, paperless environments and hands-free working environments are just some of the applications that are transforming enterprises as VR and AR hardware and software becomes both more intelligent and more cost effective.
Cheap and small storage will become readily available, which means we’ll have more space for games and media. There’s a chance that it will also become possible to have our files exist in virtual reality, so you can access your media from within VR, as well as take your entire hard drive with you wherever you go. Additionally, cloud computing could play a larger role in VR technology.
While it’s true that cloud storage has gotten cheaper, demand for online storage space will grow exponentially over time. This means that companies like Amazon, Google and Microsoft are going to have to increase their capacity and capabilities. As a result, you can expect NFT prices for cloud storage to rise over time.
How connected devices will soon become mainstream. The internet of things (IoT) refers to any connected device with a chip embedded into it. In recent years, IoT has been taking off around us in leaps and bounds and virtual reality (VR) has also started invading our homes with more products that integrate both IoT and VR technology. These technologies are already showing signs of disruption in many sectors including healthcare, education, retail, business and entertainment.
When will Internet of things take off?
One of the biggest issues with VR today is that there’s a very high barrier to entry when it comes to hardware. The Oculus Rift, for example, requires a gaming PC that costs at least $1,000. In 2020 and beyond, once these platforms have matured and supply chains have improved, hardware prices will decrease significantly. If you think about it in terms of smartphones—which are essentially today’s personal computers—the price points should eventually drop by an order of magnitude.
In late 2017, Juniper Research published a report called Virtual Reality: 360 Degrees of Growth that said virtual reality (VR) and augmented reality (AR) were both on pace for explosive growth in terms of investment, apps, and hardware. The number of AR/VR headsets used will grow from 11 million in 2018 to 113 million by 2022. All that growth means business leaders won’t be able to ignore immersive technologies.
The world of technology is always changing, and it’s hard for many businesses to keep up. While these major companies will likely remain well-known in the future, there are going to be a lot of opportunities for new technologies—such as virtual reality (VR)–to come in and shake things up. Perhaps some of your business concepts will move along with them.
VR has been around for a while, and it’s going to continue growing in popularity. Having already grown its way into video games, movies, and other forms of entertainment, virtual reality will eventually become as commonplace as normal phones. There’s no telling how long it will take before they reach that level of popularity, but it will happen.
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