A man, donning the Oculus Rift development kit 2, tries to "touch" the virtual world he is in at the Consumer Electronics Show (CES) in Asia in Shanghai in May. (Photo : Getty Images)
Leading tech authorities like Samsung and Google are working to penetrate the budding industry of virtual reality (VR). The game-changing technology is being fashioned to revolutionize gaming and other fields.
VR has seen a rapid evolution in terms of development despite the hardware not being ready for the general consuming public and other hurdles, according to engineers and developers focused on the technology.
Hardware and software issues notwithstanding, tech firms are most likely to push forward with entering the market "as it's completely certain that this is the next source of computer profit," HTC Corp. content officer Phil Chen said.
HTC will soon release the Vive VR headset, the first in its line of VR-related products. The product was made in cooperation with video game developer Valve, maker of acclaimed game franchises like "Half-Life" and "Portal."
Backed by billions of dollars in investment, it is predicted that within a decade, VR would explode to become a top contender in interactive media, according to a report published by CCS Insight, a consultancy firm based in the U.K.
Oculus VR's Oculus Rift headgear is already making waves in the market. The VR technology company raised $2.5 million through a fund-raising campaign before being acquired by Facebook Inc. for $2 billion.
Samsung is also coordinating with Oculus VR, while Sony and Google are jumping into VR development projects.
Presently, the VR market is isolated in the gaming industry where its current functions are best exploited.
Market researcher Chen XU stated that the Chinese people hardly know about virtual reality despite China's large gaming population. "Hardware produced in China is much more similar to the gadget made by Baofeng Mojing Technology Co., which is more like a pair of 3D glasses," Chen said.
In a reported case, Chinese product testers reviewed a China-made VR product as unconvincing and cumbersome. Meanwhile, the Oculus Rift was praised for being immersive and having highly realistic effect.
The quest for a more compelling VR experience continues. "We have to figure out other ways to make virtual reality more convincing, not just visually or in audio, but also in terms of feelings, smell and taste," explained Dillon Seo, who oversees Oculus's South Korean operations.
Just as important as its hardware, VR content must also be given equal priority. "It will be consumer-ready early next year, and we see a number of startups are creating innovative content," Seo said.
Oculus has allotted a $10 million budget specifically to aid startup content developers in making quality resources for the headset.
Exclusive content can also be expected. "It's like Xbox. People will buy it because of the video games on it," Phil Chen noted.
As with most tech gear, VR headsets and possible peripheral prices are likely to go down as the concept becomes more popular. Samsung and Oculus's latest joint venture, the Gear VR, came out with a price tag that is half of that of its predecessor, the Innovator Edition, which sold for about $200.
Chen added that affordability will give entry-level consumers that chance to try their hand on the products, giving the technology a vast exposure.
