VR PASSION PROJECT

PASSION PROJECT: VIRTUAL REALITY (VR)By: Shyaam Simpson

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1Assignment

• What are the current digital trends

• Definition

• History

• Types of VR

• New Investors

• Trends

• Barriers

• Revenue Forecast

2 3 4Virtual Reality Market

ForecastRise of Virtual Reality

Overview

• Therapy

• Education

• Xeljanz

5VR in Healthcare

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Assignment

PASSION PROJECTAssignment

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VIRTUAL REALITY LOCATION BASED MARKETING

EPHEMERAL MARKETING

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Virtual Reality

PASSION PROJECTVR Definition

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Virtual reality is a three-dimensional, computer generated environment which can be explored and

interacted with by a person.

PASSION PROJECTTimeline of VR

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Mort Heilig

1956

Created illusion of reality

Ivan Sutherland

1968

Users could see a virtual world

Jaron Lanier

1987

Coined the term VR

PASSION PROJECTTypes of VR

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VIRTUAL REALITY

• Augmented Reality: An enhanced image or environment as viewed on a screen that produces computer-generated images, sounds, or other data in a real-world environment.

• Immersive: The presentation of an artificial environment that replaces users' real-world surroundings convincingly enough that they are able to suspend disbelief and fully engage with the created environment.

• Non-Immersive: Only a subset of a user's senses are stimulated, allowing for peripheral awareness of the reality outside the virtual reality simulation.

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Rise of Virtual Reality

PASSION PROJECTNew Investors

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• Facebook acquired VR company Oculus Rift for $2 billion.

• Venture capitol firm Rothenberg Ventures invested $100,000 to 10 new VR startups.

• MindMaze, a virtual reality company that help’s stroke victims recover and retrain themselves received $100 million funding.

PASSION PROJECTTrends

• 2016 NCAA Final Four was live streamed in VR

• NBA will broadcast more than 25 games in VR this season

• Movie and TV studios are using VR to hype their marketing promotions for upcoming projects.

• A-list directors such as Ridley Scott and Steven Spielberg are working on top-secret VR projects.

• Game developers will have a global audience of 55.8 million virtual reality users.

• Consumers will spend $5.1 billion on virtual reality gaming hardware, accessories and software in 2016. That’s up from the $660 million spent in 2015

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PASSION PROJECTBarriers

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By almost any metric, VR high-end headsets cost a lot. The Oculus Rift is $599 and the HTC Vive is $799. To get a guaranteed good experience, consumers should expect to spend close to $1,000.

Some users say VR headsets are outright painful to wear. Also, users continue to complain about the discomfort of using VR after a long period of time.

VR companies right now are focused on fitting existing content or ideas into a virtual space, but it will be those who create original content, designed for virtual reality, that will stand out.

Cost

Comfort

Content

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Market Forecast

PASSION PROJECTMarket Revenue Forecast

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• Sony Playstation VR and mobile VR are expected to be the initial consumer VR market drivers.

• Higher VR revenue per user is likely to come from North America, Western Europe, Japan and South Korea.

• VR is projected to be a $30 billion industry by the end of the decade.

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Virtual Reality + Healthcare

PASSION PROJECTTherapy

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•  Virtual Reality is currently being used to treat panic and anxiety disorders.

• These conditions include specific phobias such as fear of flying, fear of driving, fear of heights, fear of public speaking, and claustrophobia. 

PASSION PROJECTEducation

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• NeuroTouch is a virtual surgery simulator used in surgical training and studies.

• It’s currently used to simulate four surgery scenarios including microdissection, tumor debulking and hemostasis.

PASSION PROJECTXeljanz

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HCP’s Experience Consumer Experience

• Personalize patient testimonials

• Differentiate from competitors• Memorable experience

• Redefine Xeljanz experience• Reach digital consumers• Educational experience

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Final Thoughts