The market for virtual reality technology is potentially huge, its applications are growing, and it’s attracting cash at a quick clip.

Hardware and software in the space will rake in around $2.3 billion in revenue for 2015 worldwide, vs. $90 million in 2014, according to study data from Statista. By 2018, the company anticipates sales of virtual reality products to reach $5.2 billion.

No surprise, then, that companies like Fb, Yahoo and Intel are investing.

Face Book acquired VR headset programmer Oculus in 2014. Its Oculus Rift headset is planned to launch in the first quarter of 20-16.

Google is currently marketing its smart phone-suitable Card-Board VR viewers, and it’s created apps to go with it.

Humanoid robots called Pepper, developed by SoftBank Corp.’s Aldebaran Robotics unit, remain throughout a Softbank programmer’s course for pupils and robot enthusiasts in

Intel has developed VR technologies for Razer cameras you can use as gambling controls. Razer expects to found them in early 2016.


Additionally early next year, Sony is expected to produce its VR underwater gambling experience, “The Deep,” alongside its Project Morpheus headset launching.

Technology companies aren’t the only ones investing in VR. The New York Times, for example, found a 3-D viewer in Nov.

And one or more smaller firm has seen early success in virtual reality gambling. Bunch-financed VR game Star Resident, developed by Roberts Room Industries, has raised more than $100 million in funds.

Project Morpheus virtual-reality headset during a demonstration

“Virtual reality is a completely new medium,” stated Neville Spiteri, co founder and CEO of Wevr, a company that helps individuals create content and share it with their viewers. “As a result, there’s a complete new-wave of originators, storytellers, writers, directors, game developers that are really fascinated by the new medium and are developing content for it.”

Facebook’s Oculus has recently caused a former Pixar worker on virtual reality amusement, that will be accessible to Oculus Rift users when that head set goes onsale.

Naturally there are more practical applications for virtual reality beyond amusement.

Airforce pilots are being trained on Lockheed Martin aircraft using virtual reality, and at that aerospace and defense firm’s Collaborative Human Immersive Lab, VR technology is used mimic spacecraft procedure and missile launchings, according to the company.

And experts say virtual reality hardware and software might alter the way that the health care business runs as well.

Virtual reality is being used to educate pupils how to execute endoscopies and ultrasounds and how to place cardiac catheters in patients with center issues, according to Dr. Aaron Bair, medical director at the Center for Wellness insurance and Engineering & Middle for Virtual Care at the University of California, Davis.

“If there was also a small fraction of the investing in health treatment VR as there h AS been in gaming console content, it might potentially be radical for instruction,” Bair said within an e-mail.