We shouldn’t ignore the potential of virtual reality advertising
The tech revolution is coming to advertising. Chatbots are replacing humans, data threatens our privacy, and the blockchain is linking it all together. In our series on tech and advertising, we’re taking a look at how the industry is being reshaped.
By some estimates virtual reality (VR) will be a US$162 billion industry by 2020. Only 50% of this figure is projected to come from hardware sales; the rest will be revenue from software, content and services. It’s not just the size of the market that advertisers cannot afford to ignore, but the unique potential of VR to influence choices and behaviour.
This is due to something called the Sense of Presence. Presence is the feeling that you are actually within the scene, as if you are physically there.