Virtual Reality to Reach $30 Billion by 2020

According to a recent report from Digi-Capital, the market size of virtual reality technology will reach $30 billion by 2020, but the first consumer-grade virtual reality hardware will not be available until the end of 2015. However, such reports do not tell us who will use virtual reality devices and why, except for early enthusiasts.

In our conversations with early adopters, developers, and enthusiasts of virtual reality, we sought to answer these questions and asked a number of experts: What will virtual reality look like in five years?

Here are their responses:

Keith Kasershot, VRtron developer

Five years from now? I hope the Oculus Rift is out by then. (Laughter) They always miss releases. Hardcore gamers will use VR. But I don't think VR will be mainstream for another five years. People will learn about VR, and I would compare it to the 3D graphics accelerators that became popular in the 90s. What VR really needs is applications other than gaming, which should be the killer app for everyday people. All computers have 3D graphics accelerators because they can be used for more than just gaming. You can do video acceleration, or display other 3D images. VR will be similar, but it will take a few years.

Robert Zimmerman, CEO of AlldotVR

In five years, I think you'll see some kind of VR stations in all public places. In shopping malls, if there are any, you'll see them because we all want to interact with other people in real time. We'll want to sit down and be in close contact with other people. Maybe in a chain restaurant, you'll log into your own VR world. You'll have a completely different communication experience. But you can't do that while driving a car until you have a self-driving car. With self-driving cars, you might be able to stay in your VR world all the time.

Jon Oakes, CEO, HYVR

In 3-5 years, we will have a world of virtual reality. 2D experiences will still exist, but 3D experiences will be more appealing and people will prefer them. Whenever technology advances to give people higher resolution, larger screens, or faster response times, they will go for it. Once you give them the technology, they will demand it and it will become the standard.

Nicolas Burtey, CEO, VideoStitch

120 years ago, Auguste and Louis Lumière made the first movie, and it was a train coming into a station. When the train came at the audience, they panicked and even retreated to the back of the room. Their brains couldn't react properly to what was happening. I think the same thing is happening with VR right now. "This is impossible, this is too weird." We need to train our brains. In 2-3 years, when you buy a smartphone, you will get an accessory that will transmit the smartphone to a VR headset. Every smartphone will come with this accessory, either for free or for as little as $10. So everyone can use a VR headset at home.

Ted Krubasik, student at Technical University of Munich

I'm very optimistic. I think in five years, consumer VR will have the breakthroughs we hope for. I've heard from David Holz of Leap Motion. He says that the third generation of VR hardware will be the size of my glasses, and that the rate of VR product replacement may be less than one year. I think we'll see a spark of innovation in VR once it becomes its own industry. Right now, VR is still plagued by problems in the surrounding industries.

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.