What is Virtual Reality used for?: Best Uses and Growth Stats

Table of Contents

1. Key Uses of Virtual Reality
   • Gaming
   • Training and Simulation
   • Healthcare and Medicine
   • Engineering and Design
   • Tourism and Heritage Preservation
   • Real Estate
2. Growth and Market Size Projections
3. Current and Future Applications
4. Conclusion

Virtual reality (VR) refers to computer-generated environments that allow users to experience and interact with simulated surroundings. VR has many practical applications across different industries like gaming, healthcare, education, and more. This immersive technology is becoming more accessible and continues to grow in adoption and market size.

Key Uses of Virtual Reality

VR creates immersive experiences that can enhance and improve processes in many sectors. Here are some of the major uses and applications of virtual reality today:

Gaming

• One of the most popular uses of VR is in video games where users can be transported into virtual worlds and fully immersed in gameplay.
• VR allows gamers to look around and interact with the environment using natural movements.
• Popular VR games span various genres from adventure and puzzle games to shooters and simulations.
• The VR gaming market is estimated to grow to $45.09 billion by 2028.

Training and Simulation

• VR training simulations are used extensively in fields like the military, pilot training, and medical schools.
• Simulations allow trainees to practice skills and procedures in a safe, repeatable virtual environment.
• VR allows customized simulations that can be tailored to teach specific skills.
• VR training improves learning outcomes and knowledge retention.

Healthcare and Medicine

• VR enables doctors to practice surgery and other procedures before performing them on real patients.
• It assists in training physicians and is used in medical schools.
• VR also aids in phobia treatment by allowing patients to confront fears in a controlled environment.
• It is used to treat post-traumatic stress disorder (PTSD), anxiety, and chronic pain management.
• VR technology assists patients with mobility issues by providing immersive experiences.

Engineering and Design

• VR enables engineers to visualize and interact with 3D models of designs and prototypes in an immersive environment.
• It improves the design process and allows optimization and detection of issues before manufacturing.
• VR allows collaborators to jointly examine designs from different locations.
• It also assists customers in evaluating products and visualizing custom options.

Tourism and Heritage Preservation

• Destinations, hotels, and travel companies use VR to give potential tourists a virtual preview of locations.
• It allows users to experience activities, and attractions and determine if they want to visit in person.
• VR enables cultural and historical heritage sites to be preserved in a virtual format for posterity.
• People can explore these sites remotely and archaeologists can examine details closely.

Real Estate

• VR property tours allow potential buyers and renters to virtually walkthrough and view properties remotely.
• It provides an immersive experience of spaces like the exact view from a window or balcony.
• VR is more convenient than physically visiting each property and gives a realistic representation.
• Real estate agents can showcase listings to more buyers leading to faster sales.

Growth and Market Size Projections

The VR market has rapidly expanded in recent years thanks to greater hardware accessibility and affordability. Here are some growth estimates:

• The global VR market was valued at $15.81 billion in 2020.
• It is projected to grow at a CAGR of 15.0% from 2021 to 2028 as per Grand View Research.
• The VR gaming hardware market alone is likely to reach $13.10 billion by 2027 with a CAGR of 10.7% (Mordor Intelligence).
• There is increasing investment in VR from companies like Facebook, HTC, Sony, and others.
• Improvements in VR technology like haptic feedback, 6DoF tracking, eye tracking, and hand controllers will drive greater adoption.

Current and Future Applications

VR technology has expanded far beyond initial applications in gaming and entertainment. Some emerging uses that show promise:

• Retail: Enabling virtual shopping experiences that allow customers to browse products in realistic store environments. Trying on clothes virtually using personalized avatars.
• Manufacturing and Assembling: Allowing factory workers to follow step-by-step 3D visual instructions for assembling products and machinery. Improving efficiency and accuracy.
• Social Connection: Holding virtual get-togethers and events where distant family and friends can interact in the same virtual space regardless of physical location.
• Space and Underwater Exploration: Training astronauts and allowing them to pilot robotic equipment remotely using VR interfaces. Exploring deep sea environments in a detailed, immersive way.
• Therapy: Treating common phobias and PTSD through repeatedly exposing patients to simulations of their fears and anxieties in a controlled VR setting.
• Education and Training: Holding engaging virtual classes and lectures with students appearing as avatars. Developing highly specific VR simulations to teach history, science, medical procedures, and more.

As VR devices become more mainstream and affordable, innovative new applications will emerge across industries. The unique immersive experiences and simulations enabled by VR lend themselves to many human-centric use cases that can enhance business operations, medical care, education, and overall quality of life.

Conclusion

Virtual reality has clearly transitioned from being a niche technology to having many practical real-world applications across diverse sectors. Steady growth is predicted going forward as VR experiences become more lifelike and realistic. With increased investment and hardware improvements on the horizon, VR adoption will likely accelerate and expand even further in the coming years. Its versatility and ability to simulate endless environments and scenarios will enable VR to transform processes and workflows across many domains.