Is Virtual Reality Finally Taking Off?

For more than a decade, virtual reality technology has been heralded as the future for the tech space.

However, bulky equipment and sky-high prices have kept virtual reality from really taking off. Now, with Facebook Inc (NASDAQ: FB)'s Mark Zuckerburg promising to invest heavily in virtual reality in the coming years, many see the technology becoming more mainstream sooner than expected.

Facebook Investing In VR

Facebook recently acquired Oculus VR, a company that manufactures virtual reality headsets, in an effort to step up its investment in alternative revenue streams.

Last week, the company announced that its latest Rift virtual reality headset would be ready to ship in early 2016.

Related Link: Facebook's Oculus Virtual Reality Headset Planned For Early 2016

Drawing Attention

Facebook's rush into the virtual reality space has sparked speculation that more and more big name companies will invest similarly in the years to come.

Technology consultancy KZero estimated that around 39 million virtual reality headsets will be sold in 2018, up from 2.7 million in 2015. That figure is based on the development of consumer-friendly, lower cost headsets that will make the technology more accessible to the masses.

Making virtual reality more cost effective has a much wider appeal than just video-gamers and early adopters. The headsets could be used in several industries as well. Virtual reality is being explored for everything from specialized training for surgeons to testing new automobile models.

Related Link: Piper Jaffray Sees Oculus Rift As A "Significant Long-Term Opportunity" For Facebook

Who To Bet On?

While Facebook's Oculus has received the most press when it comes to virtual reality technology, it isn't the only option for investors looking to get in on the trend.

Microsoft Corporation (NASDAQ: MSFT) is working on its own version of a virtual reality headset through Project HoloLens. The project has been so successful that it was used by NASA to do things like map other planets' landscapes.

 
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