Business Technology

Location-Based VR Market: The Next Phase of Immersive Entertainment

                                                               “Future of Virtual Reality”

Location based virtual reality is a suite of hardware and software components that enable end-users to visualize and experience virtual environment in real-time. Virtual reality includes hardware and software that is required to provide a virtual environment of real or imaginary subject and further interact with it. Demand for location based virtual reality is expected to rise globally, largely due to rising applications in end-use sectors such as healthcare, education, gaming, and media and entertainment.

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Adoption of technology is higher in the gaming, media and entertainment sector, as compared to other sectors in the industry. Current advancements in technology in location based VR are boosting the expectation of end-users to experience virtual surrounding in different applications, irrespective of any location or time. Hardware developers have been introducing or updating location based VR enhancements in the last few years in order to improve user experience. Increasing number of 4D films, amusement parks, and themed attractions in these regions owing to the rise in young population in these region.

Some of the high investments in the developments of technology were made by technological giants such as QUALCOMM Ventures, Samsung Venture, Oculus, and Google Ventures. These technology giants are trying to create a monopoly in the market through investments and partnering with new emerging startups.

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The market is estimated to witness similar investment scenario from private venture capitalists and technology giants during the forecast period. Adoption of technology is higher in the gaming, media and entertainment sector, as compared to other sectors in the industry. Current advancements in technology in location based VR are boosting the expectation of end-users to experience virtual surrounding in different applications, irrespective of any location or time. Hardware developers have been introducing or updating location based VR enhancements in the last few years in order to improve user experience.

The research study includes profiles of leading companies operating in the global location based VR market. Key players profiled include Appentus Technologies, BidOn Games Studio, Cortex, Craftars, Google, LLC, HQSoftware, HTC Corporation, Huawei Technologies Co., Ltd., Intel Corporation, MOFABLES, NEXT NOW, INC., Oculus VR, and ScienceSoft USA Corporation.  

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