Augmented Reality and Virtual Reality seem to be the new cool thing in entertainment technology. All media tech giants seem to be investing in it. On the surface of it, both these realities that seem more real than the reality itself have attracted a lot of investment from venture capitalists since the last year (2016). Video games, cinema, entertainment, and even sports and events are adopting VR and AR, as if they were incomplete without it. But what is happening on the market scene? Are these investors moving ahead in a clear direction?

VR/AR and the Market

While many an expert may have prophesied at the advent of VR/AR technology is the future, the reality seems to be a bit different. It may be the future, but it will certainly take time to become the only standard of UI/UX. Perhaps this technology is moving on the premise that if you build it, people will eventually accept it. However, the limited market for VA/VR is not such a driving force as of now. Perhaps, only anticipation is. Therefore, all the companies that have been investing in it seem to be at sea about what exactly must be done with it.  

Two reasons could be true – the relative lack of content on AR/VR; and the high cost of headsets. The second reason, primarily, contributes to the lack of demand in the market.

Projects like Pokemon Go may have gained immense popularity, however, it now seems like a thing bygone. No innovation of such caliber has struck us again yet.

The Real Reason for a Directionless Approach

While the two reasons stated above, play a big role in the keeping the impeding the VR/AR market, the real reason for the entire endeavor being direction less is the approach to innovation.

While the present approach to innovation in VR and AR is that of offering the best in tech plus something of the basic tech. It’s like adding bit of sugar and spice and everything nice to Chemical X. That may be something that the consumers’ palette isn’t ready for yet. In fact, this may just be the reason behind the erratic fruition of Apple’s decade long VR development.  Still waiting on that one.