Demand for VR goggles escalates

A few months ago, we reported about the new Oculus Rift, a headset/googles-based virtual reality software system that was making its official debut. While other VR devices had preceded it, few were as boldly-marketed this version, touted as being one of the most advanced in the world. It currently comes with a steep price tag to match its abilities.

But there’s news. China has stirred up the VR mix. And things are getting pretty interesting.

According to VentureBeat, the virtual reality market in China is expected to reach over $850 million this year alone. And by the year 2020, it is projected to hit 8.5 billion. With all the demand for devices, and the limited number available from the West, entrepreneurs and investors to our East have begun to create more head-mounted sets by the thousands. To date, the number of available models exceeds 100. The one shown above comes out in the next few months. One company, Baofeng, reported sales of a million of their low-end ($30) units in just the first three months of 2016.

As the technology advances while becoming more easily and inexpensively duplicated, it’ll be really interesting to see which companies – in which areas of the world – emerge as leaders at the forefront of this cutting edge innovation.

Find your next cutting edge eyewear at Charlotte Jones Opticians.