Tim Harader runs Portal VR, a virtual reality arcade in Seattle. When looking at the current state of the virtual reality (VR) and augmented reality (AR) market, Harader suggests we’re seeing a trend similar to that of the internet video space in the late 1990’s.
Elaborating upon internet video, Tim explains that during the late 1990’s, there was significant hype surrounding the topic and that sizable capital investments were put into the innovation, however, there weren’t that many people watching. “Ultimately, it was not a sustainable business for content creators.” Fast forward to today and the consumption of digital video content has gone through the roof. People can now stream content on a range of mobile devices anywhere and at anytime.
The same can be said for virtual and augmented reality developers today – only once we hit mass penetration will we really see developers starting to make money. But this doesn’t mean that traction isn’t being made. Already, we’re seeing how a wide variety of industries are embracing augmented reality and using it to offer customers a better experience as well as to improve their internal processes. You can see exactly what we’re talking about in the infographic below.
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