Research Indicates VR is Evolving, User Base can Rise to 171 Million

Research into the VR industry is always worth keeping an eye on. Despite the appeal of this industry, it has not gained any significant traction just yet. Research by Fullestop shows how there are a lot more users than one might think. Even so, there’s still a lot of work to be done moving forward.

The State of the VR Industry

It is evident virtual reality is interesting, but still in the early stages of growth. Different use cases for this technology exist already, with gaming still being the primary industry as of right now. That in itself surprises a lot of people, even though it really shouldn’t. Visiting places is also a popular trend, whereas live events and other forms of entertainment lag behind the curve.

Thankfully, the positive attention for VR is also growing. Especially in the educational and healthcare industries, a lot of popular initiatives are taking place. With VR becoming more physical and sensory oriented, the new opportunities will be well worth keeping an eye on. Whether that will be for better or worse, remains to be determined.

According to recent research, it seems there are a lot more VR users than people think. Fullestop shows how the number of VR users is growing steadily, with 90 million users globally in 2017. This is more than double the number of users in 2016. If this growth continues, there will be 171 million VR users by late 2018.

Even so, the adoption rate of VR still needs a bit of work. More specifically, 81% of respondents to the survey confirm they are captivated by the technology. Two in three consumers see merit for VR in the shopping industry. Over one in two adults would prefer to buy from a brand with VR functionality. An interesting situation for companies to take advantage of.

Header image courtesy of Shutterstock

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By Mark Arguinbaev

Mark is a 28 year old internet entrepreneur. He is a bitcoin enthusiast and a technology addict. He loves writing and educating readers about the newest tech trends.