Poll: Do you think virtual reality is worth the hype?

The industry is tipped to be worth $1 billion this year – and it seems like everyone wants a piece.

By Conor McMahon Deputy editor, Fora

THE WORLD’S TECH behemoths have been pumping money into virtual reality (VR), an industry that is tipped to be worth a billion dollars this year.

Google, Facebook and Samsung have been investing heavily in the race to make the first truly mainstream VR headset – and brands seduced by the technology’s potential ad power have gone along for the ride.

Big corporations like Coca-Cola have been happily dishing out cash to finance gimmicky promotions like a virtual sleigh ride with Santa Claus.

As we learned last week, smaller firms are taking a gamble on VR too. For example, Irish property firm Sherry Fitzgerald has been tinkering with the technology to showcase unfurnished developments to potential buyers.

That said, VR is still far more expensive than a social media campaign and has lower reach than traditional TV and radio ad slots.

While the number of people that  have experienced VR at trade shows and events is on the up, the headsets have still yet to find their way into the vast majority of ordinary homes.

And some will be left wondering whether the the time and cost of making VR experiences will live up to consumer’s expectations and increasingly short attention spans.

With that in mind, we’re asking Fora readers this week: Do you think virtual reality is worth the hype?