No one can for certain know how big or how pervasive virtual reality is going to become. It has all the hallmarks of a breakthrough technology in its earliest stages. The instant worldwide explosion of Pokemon Go this summer suggests a hearty appetite for instant/augmented reality, and some analysts have predicted that the augmented/virtual reality market could hit $150 billion by 2020.
To date most of the business applications of VR have come large technology and media companies. Increasingly, however, small- and medium-sized companies are finding creative, cost-effective ways to adapt VR to enhance their business.
Among the industries where VR technology is making a difference are ticket vendors (customers can get a much richer sense of what they will be able to see from which seats); real estate (would-be buyers can tour properties before ever visiting them); and education (college tours without the plane ticket).
At Inc. we try to help businesses figure out whether and how to adapt new technologies, and we recently published this guide of what to expect when you’re implementing VR.
Editor's note: Inc. is the National Lead Media Partner of the IdeaFestival. Inc. Editor Jim Ledbetter will lead a discussion at the festival on "Does Doing Good Mean Doing Better?" Don't miss it!