Can you explain what is the experience of a fetus when it is inside a womb? Same goes with Virtual Reality. It is a technology that can not be explained in simple words. That’s the Biggest Challenge of Virtual Reality. Explaining Virtual Reality is like telling someone how the life on an extra terrestrial planet is going to be.
Relevant Read: Weirdest Experiment with Virtual Reality.
Well, there are some who can still understand and visualise what virtual reality might be, but even their perception change when they actually experience it. I can definitely talk about myself. I watched all kinds of videos and read tons of articles, but it was nothing until I put on a cardboard first and then Oculus and Gear VR. Lack of first hand experience is what we believe is the biggest challenge of Virtual Reality.
Our First Hand Experience With Virtual Reality
We dealt with many Real Estate companies, tried to explain them using cold calls and emails with links etc. However, the biggest turning point was always the demo when they themselves put on a VR Headset and experienced it. The demo would almost always seal the deal. Same goes with our dealings in the travel and hospitality segment. It would take lot of time for us to bring the right stakeholders across the table. However, once they experienced it, 99% of them converted.
Yes, there are other challenges such as High price point, mass adoption, the nausea and other eye related mis/conceptions, how to monetise it at retail level. But those are not the biggest challenge of Virtual Reality is what we believe. You may ask why? Read on.
History Being Repeated
Go back in the memory and you will realise that almost all of these were present in 2007 when Apple launched the first iPhone at a price tag of $599. The concept of Appstore, as we see today, didn’t exist. For such a phone to work, the bandwidth and the data speed were key requirements. Apple came with free data plans for its phones. As the popularity of Apple grew, HTC came up with first Android phone in October, 2008. With the unique offerings and growing popularity of smartphone, the bandwidth and speed were made available. Today, one can buy a low-end Android smartphone for as low as $50, which was unthinkable few years before.
Future of Virtual Reality
We see the launch of Google DayDream as one such turning point for Virtual Reality. Oculus Rift and Facebook did to Virtual Reality what Apple did to Smartphones. Google Daydream can very well be correlated to first Android phone launch of 2008. As is the strategy of Google and they have made it pretty clear that there is a growing partner ecosystem that they would build. The architects and developers can freely exploit Rig, OS and SDK. Some basic elementary work in the form of Google VR View is already available. You can even embed a Virtual Reality View in your Blog or Website without any technical knowledge of VR.
Virtual Reality, we believe, will follow a similar trend to solve the biggest challenge of Virtual Reality. There is however, one distinct change that it may have. While almost every adult owns a smartphone in a family, you would only need one VR Headset per family, at least for next few years. Also, we may start to see building customer segmentation across various devices. Market may drive and create different or unthinkable ways of using Virtual Reality. That would in turn may position different Headsets leaders in various categories.
For the mass success of Virtual Reality, it first needs to succeed in the B2B segment but with retail customer interface such as real-estate. We are talking about beyond the OEMs, the real solution developers and problem solvers. That will provide the first hand experience to the users and finally leading to mass adoption with decrease in prices. There are tons of evidence that it is indeed succeeding there. We wrote an article on how this company has made $1.5 million in just 3 months.
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Do you differ on what will be or is the biggest challenge of Virtual Reality for it to succeed? Please let us know.
Until Next Time….