Virtual reality is quickly becoming a very popular technology with many big companies like Facebook, Google, Samsung, etc., giving the virtual reality sector a lot of attention. That virtual reality and augmented reality could become a $110 billion business in 5 years is a prediction that has been made by Goldman Sachs.

In 2016, HTC Vive is the second major high-end VR headset to have gone on sale after Oculus VR’s Rift head-mounted display in January. HTC Vive is a PC peripheral that is to be worn over the eyes and ears, enabling the user to feel as if they are within a game or a virtual environment, making them feel as if they are ‘actually there’. One of the features that set HTC Vive apart from the competition is the extra sensors which track the user’s movements within a room. This contributes greatly towards making a user feel as if they are actually present within the virtual environment.

It has been revealed that after going on sale for pre-order, more than 15,000 HTC Vive VR kits got sold in the first 10 minutes. This is impressive considering the fact that virtual reality is a ‘new’ technology (not many may know that virtual reality is far from ‘new’ and has been around and evolving for quite some time) and the HTC Vive VR kit coming with a price tag of $800, in addition to requiring a $1,000 PC.

As far as Rift sales figures as concerned, the first shipments were sold out within minutes. This led to the pushing of new orders from March to April and further into May. As of now, new Rift pre-orders will not be shipped till July. All this goes to show that virtual reality is already gathering a lot of interest. This interest was earlier witnessed with the success of devices like Samsung Gear VR and Google Cardboard.

While there were doubts initially regarding the profit that would come with virtual reality, the success of devices like HTC Vive, Samsung Gear VR, Google Cardboard, etc., has laid such doubts to rest. The success of such products shows that consumers are ready to spend on virtual reality. Back in the 90’s, there was a lot of hype around virtual reality but the products didn’t match people’s expectations. However, all that has changed today – today virtual reality devices are backed with technology that surpasses expectations. Those who have experienced the latest virtual reality devices found themselves overwhelmed and extremely impressed.

Virtual reality is a technology that is all set to bring about great change in all the fields in which it has application. Virtual reality can be effectively utilised for the promotion and growth of your business. While choosing a virtual reality company, look at whether they have a skilled and experienced team who can deliver the best results right from panorama photography, advanced visualization, virtual reality knowledge transfer solutions and 360 videography to virtual reality tours. The right virtual reality company can really contribute enormously towards the success of your business.