What is virtual reality?

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Since Heilig’s invention, the VR industry has been trying to develop a product that could reach the masses and allow everyone to experience VR.

Since 2010, advancements in this filed have led to the launch of several headsets including Oculus VR, Samsung’s Gear VR, Google’s Cardboard, and so on.

Between 2014 and 2016, thousands of apps, videos and games have been developed to be consumed and experienced through VR headsets.

By 2020, the VR market is expected to be worth $30bn, according to Statista. Hardware will account for just over $5bn and software is set to be worth $24.5bn.

 

Name of Technology:

Virtual Reality

Year Introduced:

1962

Invented by :

Morton Heilig

Open Source or Proprietary:

Proprietary

Main technology category:

Hardware/Software

Patent:

Yes

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