As the VR and AR market booms, one thing is certain — there will be opportunity for entrepreneurs to stake claims.
Snapchat set off a flurry of chatter among the technology classes this autumn with the leaked news that the social-media company appears to be preparing a push into virtual-reality hardware.
Much of the talk in the mass media, however, missed an important point: Virtual reality and augmented reality, its closely related sister technology, already represent a $1 billion market — and the market-research firm SuperData estimates that investors will pump $2.8 billion into VR and AR companies this year alone.
But it’s not just a business of headset-manufacturers and mass-market content producers. An ecosystem of specialized companies is growing up, each targeting a segment of a market whose revenues are projected by market analysis Digi-Capital to reach $120 billion a year by the end of the decade.
A veritable gold rush is developing as entrepreneurs look to cash in. Just take a look at these five companies that are combining old-school smarts with new-school technology to take their piece of that $120 billion:
enerG, a Los-Angeles based fitness and media startup, is laser-focused on a growing niche market — fitness and wellness — as it develops content that uses VR technology to bring the hottest workout trends from big-name urban studios to users across the country. Co-founded by Tracey Raftery and Saara Vakil, a couple of experienced television and business-strategy consultants, enerG’s financial strategy includes branded virtual fitness studios as well as revenue from product placements and sponsorships. (It’s already nailed down a deal with Reebok.) First up: An immersive, VR meditation program.
The company is one of four closely watched VR and AR startups that rolled out of an intensive summer-long incubation at Green Screen Institute at the video-technology hotbed of Nevada County in California’s Sierra foothills.
2. Hot Bit VR.
Hot Bit VR is another Green Screen Institute alumnus company focused on VR and AR content. Hot Bit VR plans to deliver “did-you-see-that” stunts in virtual reality as a cornerstone of its programming.
Its founders, feature filmmakers Marcy Boyle and Rachel Holzman of Dpyx Productions, say the company based in Los Angeles and New York also will deliver edgy comedians, games and provocative art. They key to all of it, they say, interaction, immersion and shareability.
In fact, they view Hot Bit as something like “Comedy Central” for VR — a place where upcoming comedians grab the spotlight and advertisers rush to get their messages in front of the highly attractive audience of VR users.
4. Theia Interactive.
Read the full article at entrepreneur.com.