Virtual Reality (VR) has come a long way since its inception, and it is now revolutionizing the gaming industry. With a market value of approximately $37 billion in 2022 and a predicted increase to $114.5 billion by 2027, VR is undoubtedly the next frontier of gaming. As more companies embrace immersive technologies for training and educational purposes, the VR gaming market is expected to be worth $53.44 billion by 2028.
Immersive Experiences in the Corporate World
TD Bank Group is one of the many companies exploring emerging technologies to identify new platforms that can help connect with customers, colleagues, and communities. In collaboration with Capco and Mesmerise, TD launched a Virtual Reality Co-op and Intern Pilot Program, offering immersive and collaborative experiences for new colleagues. Over 100 interns participated in networking sessions, live leadership panel discussions, innovation challenges, and lunch & learn sessions, all through virtual reality headsets. The objective of the program was to drive engagement through a dynamic early talent immersive experience that would help new TD colleagues connect in a meaningful and natural way.
Enhancing the VR Gaming Experience
The future of VR gaming is set to be a truly immersive experience, with haptic feedback technology playing a crucial role in enhancing the overall experience. Haptic suits can simulate the feeling of pressure and touch on different parts of the body, providing a more realistic gaming experience. Additionally, artificial intelligence (AI) is used to create more lifelike characters and environments, as well as more challenging opponents, making the gaming experience even more engaging.
VR in Education and Training
Virtual Reality is not limited to gaming; it can also be used for educational and training purposes in fields such as medicine and aviation. VR provides a more engaging and interactive way to teach students about historical events or scientific concepts, with 88% of Americans believing that VR can help to improve education. As the VR software market is expected to grow to $25.32 billion by 2026, more educational institutions and companies are likely to adopt this technology for training and learning purposes.
Creating a Sense of Community in VR Gaming
Platforms such as PokerStars have already introduced virtual reality to their arsenal, allowing players to read other players’ body language just as in a live game. VR can provide a platform for players to interact with each other in a virtual environment, creating a sense of community among them. With 79% of Americans expressing interest in VR, the potential for growth and expansion in this industry is immense.