The impact of COVID-19 has shattered almost many industries but for some sectors, it has left both the positive as well as the negative effect. Many people are pondering over the future of VR after the COVID-19 phase is over. During the coronavirus pandemic, people are interacting with one another virtually with the use of technologies such as virtual reality.
Hence, the use and importance of VR devices have increased a lot due to COVID-19. However, many experts have said that the forecast of this virtual reality industry will get affected over the next two years. But the effect will not be drastic as there will be a mix of positive and negative changes that will be introduced in this industry. Here are the different ways in which COVID-19 will change the fate of virtual reality:
Virtual Social Interactions
One of the positive effects of COVID-19 on the VR sector is that it has made it possible for every person to interact socially through VR devices. Although people are not being able to meet their friends in-person during coronavirus pandemic, the use of VR devices is helping them fulfill their needs of interaction to a great extent.
In addition to this, many employees are now taking part in online meetings with their organizations using VR devices. After the coronavirus pandemic is over, the use of VR devices will become a common thing across the world as people will easily be able to interact with their loved ones virtually.
Closure of Physical VR Venues
The closure of physical VR venues has led to a negative impact on the VR industry. During the lockdown period, closure of physical VR venues is being noticed across the world. Especially, in the Chicago city of the US, this effect is largely seen.
Due to the closure of physical VR lounges in Chicago, a negative impact of COVID-19 is seen in this segment. In addition to this, the retail stores are closed so the sale of VR hardware is also decreased to some extent. Moreover, the situation is likely to remain more or less similar throughout the year 2020.
Increased Use of VR Devices in Ecommerce Sector
Coronavirus pandemic has increased the demand for eCommerce shopping as people are buying their essential used items online. The closure of retail stores has made people switch to eCommerce shopping to buy products to meet their daily needs. With the use of VR technology, it becomes possible for people to choose their favorite items without visiting the store in-person.
Negative Impact on Location-Based VR Entertainment
All the location-based VR entertainment businesses are currently shut during the lockdown period and it is negatively impacting the industry. Since the coronavirus pandemic is likely to prevail for a long-time, it is difficult to assume that people will return to location-based VR entertainment businesses after the lifting of the lockdown.
At location-based VR entertainment businesses, it is not easier to avoid contact with other people. And as the WHO has warned that COVID-19 will stay with people for long, the demand for location-based VR entertainment sources is likely to decrease in the next coming years as well.