Lack of compelling content is VR's number one obstacle, says survey
A new study has suggested that the number one obstacle for virtual reality right now is a lack of compelling content.
The survey – a joint study by Upload and Perkins Coie – surveyed 650 AR/VR startup founders, executives with established technology companies and investors.
The survey results suggest that respondents believe that a lack of compelling content is the biggest obstacle to mass adoption of AR and VR technology, while cost was also identified as an issue.
Of those surveyed, 37 per cent said that an inadequate content offering is the biggest challenge to face to the emerging industry, while reluctance to embrace AR/VR innovation in the mainstream was second with 23 per cent and technological limitations was third with 20 per cent.
Research by Goldman Sachs suggests that US$3.5bn (€3.1bn, £2.7bn) has been invested into AR and VR in 2014 and 2015, with AR/VR startups experiencing 347 per cent increase in funding in the first quarter of 2016 compared with the final three months of 2015.
Investment into AR/VR remains relatively small on the whole, with 88 per cent of investors granting funding anywhere between US$0 (€0, £0) and US$5m (€4.5m, £3.8m) over the past year. Investors however have suggested increased interest in the market, with 22 per cent saying they expect to invest somewhere between US$6m (€5.4m, £4.6m) and US$10m (€8.9m, £7.6m) in the next year – a range selected by no respondents in the previous 12 months.
The study also revealed that investors are planning to make most investment into content over the course of the next 12 months, and that the vast majority of respondents (89 per cent) agreed with the statement, “In the next two years, VR and smartphone manufacturers will place a focus on developing mobile VR solutions.”
To read the full survey, click here.
virtual reality augmented reality technologyAugmented reality market to be worth three times as much as virtual reality by 2020, says report
Legendary videogame developer Hideo Kojima joins VR studio Prologue Immersive
Exoskeleton could change VR game with haptic feedback to simulate touch
Universal Orlando reveals VR experience for Halloween Horror Nights
Lotte World to develop VR programme for South Korean government
Europe's premier Evian Spa unveiled at Hôtel Royal in France
Clinique La Prairie unveils health resort in China after two-year project
GoCo Health Innovation City in Sweden plans to lead the world in delivering wellness and new science
Four Seasons announces luxury wellness resort and residences at Amaala
Aman sister brand Janu debuts in Tokyo with four-floor urban wellness retreat
€38m geothermal spa and leisure centre to revitalise Croatian city of Bjelovar
Two Santani eco-friendly wellness resorts coming to Oman, partnered with Omran Group
Kerzner shows confidence in its Siro wellness hotel concept, revealing plans to open 100
Ritz-Carlton, Portland unveils skyline spa inspired by unfolding petals of a rose
Rogers Stirk Harbour & Partners are just one of the names behind The Emory hotel London and Surrenne private members club
Peninsula Hot Springs unveils AUS$11.7m sister site in Australian outback
IWBI creates WELL for residential programme to inspire healthy living environments
Conrad Orlando unveils water-inspired spa oasis amid billion-dollar Evermore Resort complex
Studio A+ realises striking urban hot springs retreat in China's Shanxi Province
Populous reveals plans for major e-sports arena in Saudi Arabia
Wake The Tiger launches new 1,000sq m expansion
Othership CEO envisions its urban bathhouses in every city in North America
Merlin teams up with Hasbro and Lego to create Peppa Pig experiences
SHA Wellness unveils highly-anticipated Mexico outpost
One&Only One Za’abeel opens in Dubai featuring striking design by Nikken Sekkei
Luxury spa hotel, Calcot Manor, creates new Grain Store health club
'World's largest' indoor ski centre by 10 Design slated to open in 2025
Murrayshall Country Estate awarded planning permission for multi-million-pound spa and leisure centre
Aman's Janu hotel by Pelli Clarke & Partners will have 4,000sq m of wellness space
Therme Group confirms Incheon Golden Harbor location for South Korean wellbeing resort
Universal Studios eyes the UK for first European resort
King of Bhutan unveils masterplan for Mindfulness City, designed by BIG, Arup and Cistri
Rural locations are the next frontier for expansion for the health club sector
Tonik Associates designs new suburban model for high-end Third Space health and wellness club
Aman sister brand Janu launching in Tokyo in 2024 with design by Denniston's Jean-Michel Gathy
Three years after Pegasus Capital bought Six Senses, how close is the private equity firm to realising its goals for its first spa and hospitality investment? Pegasus’ founder Craig Cogut tells us what’s been achieved and what comes next