Virtual reality is the use of computer technology to create simulated environments. Virtual reality places the user inside a three-dimensional experience. Instead of viewing a screen in front of them, users are immersed in and interact with 3D worlds. Simulation of human senses—all five of them—transforms a computer into a vehicle into new worlds. The only limitation to a superb VR experience is computing power and content availability.
The VR process combines hardware and software to create immersive experiences that “fool” the eye and brain. Hardware supports sensory stimulation and simulation such as sounds, touch, smell or heat intensity, while software creates the rendered virtual environment.
VR technology is associated with gaming, but it is used to support sales, facilitate learning, simulate travel, communicate, and more. Due to the pandemic, remote work, social interaction and virtual travel have increased VR use.
VR is always improving due to technology refinements, and the latest “category killers” change rapidly. Top-of-the-pack players include ongoing favorites from Oculus, HTC, Sony and Valve.
Businesses differentiate themselves through technological hybrids to interest consumers in innovations, mainly through VR and AR applications. Nowhere is this more evident than in shopping and retail. Virtual reality in retail is still in its infancy. According to a 2018 VR in Retail and Marketing report from ABI Research, VR technology in the retail and marketing sectors are on track to generate $1.8 billion by 2022. Virtual reality in retail helps vendors plan, design, research and engage customers. The technology offers companies a strong competitive advantage by keeping up to date with current patterns and trends
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