The future of virtual reality (VR) is quickly becoming the present.

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The future of virtual reality (VR) is quickly becoming the present.

Published2015.09.09 17:22

"The augmented reality (AR) and virtual reality (VR) market will reach $150 billion by 2020."

Niels Andersen, Chief Technology Officer (CTO) of EON Reality, made this announcement at the VR (Virtual Reality) World Challenge Forum held at Nurikum Square in Sangam-dong, Seoul on the 9th.

CTO Anderson introduced the market trend, saying that the number of people using VR headsets will reach 11 million by 2016, and that a recent study showed that 65% of Americans are interested in shopping in virtual reality.

This event was held by the Ministry of Science, ICT and Future Planning as part of the K-ICT VR Festival 2015, an event that provides a glimpse into global virtual reality technology trends.

EON Reality is a virtual reality specialist with over 15 years of R&D experience, knowledge transfer business, education and scalable platforms.

The forum was also attended by VR experts, including James Zheng, CEO of Reload Studios, which is striving to dominate the global VR market in both gaming and non-gaming, and Tao Jia, co-founder of Rueyu Technology, which accounts for more than 50% of the Chinese TV game market.

Additionally, an exhibition hall where you can experience VR has been set up on one side. Oculus is dedicated to creating experiences that transcend physical limitations through powerful virtual reality technology, and at the exhibition, they showcased their own experiential content, including Crescent Bay.

Skonek Entertainment is dedicated to bringing developers' imaginations to life, and at this exhibition, they showcased Mortal Blast VR for Samsung Gear VR.

Ruewei Technology displayed VR HMDs and posters, allowing visitors to experience the VR game platform of online game store Nibiru.

“Our focus areas are industry, education, and edutainment, and we focused particularly on education last year,” said CTO Anderson. “We are seeing cost savings as a result of dramatically improving safety and accuracy by using VR prototype solutions in actual industrial settings. In addition, the learning effects achieved in educational settings are showing an educational retention rate of over 80% compared to traditional education.”

In fact, he said that VR, which pilots regularly use for simulation training, was behind the emergency landing of a plane on the Hudson River in the United States last year.

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