VR Development: BinaryVR 3 Years Old Startup Success Story (4.5mn Funding)
Introduction of VR
Before we begin to understand what is virtual reality (VR) in brief? if you divide the terms, you will get the answer. For i.e. virtual means “being something in effect” and reality means “presence”. By saying this, virtual reality is a computer-generated process for the users to the experience of a world that really doesn’t exist.
You can lose yourself in reading a book or maybe for an adventure movie. This indicates the type of virtual reality emerging as the present and future technology in our lives for different prospects.
Today, we have seen virtual reality used in interactive video games, 3D movies, and various television programs. Nowadays you can even search online for the best VR apps for ios/android devices in your app store, and you will see the hundreds of apps with convincing experience of VR.
VR Development Trend
The whole VR industry is estimated to be worth $5.2 billion in 2018, and $45 billion by the year 2025. This clearly shows it as an appealing industry to pay attention to, but what are the VR development trends to watch out? Let’s find out them:
360 Degree VR Videos:
As per the research and statistics from Omnivirt, 360° videos earned higher engagement last year than regular video and content streaming. This data was presented on the analysis of clicks, video completions, and online engagement from different 1,000+ campaigns.
Many global companies like Microsoft, IBM, Ford, Honda, and even NASA have already incorporated VR development as well as 360° videos. Youtube’s channel also dedicated to showing 360° videos and they have 3 million subscribers. With the increased demand, you can expect to see more VR videos on a higher scale.
VR Advertisement Campaigns:
The probabilities of VR advertising is something a lot of corporations are wanting. for instance, car manufacturing companies being able to put you in the seat of their latest new model, such as BMW or Audi’s VR showroom. There is just frequently going to be a lot of exploring ideas to use VR in marketing campaigns to get the customers.
Increased Demand of VR Developers:
Any Industry growth will only be equivalent to the ability of the talent in that industry. While the VR industry is seeking for more exponential growth, this can only be approached by the availability of VR development team to enable this growth. With a lot of startups and million-dollar investment firms, there are many job postings in the VR sector. Thus, you can expect an increase in demand for developers with VR skills.
Better Immersive Experience with VR Solutions:
With the help of VR solutions, It can help attain goals of being the reality virtually by providing essential VR app development. On the other hand, VR tool allows offering immersive and informative VR experience using any device.
To give you an example, HEAR 360 was in the news for entering the 8ball “Omni-binaural” microphone that catches 360 degrees of audio by using 8 omnidirectional microphones. It leads to more immersive sound experience.
Why VR Development for Businesses?
Virtual reality is no longer the inaccessible; it is happening now, and there are no such indications of the trends ending anytime soon. Here’s how and why app developers should take benefit of this.
VR innovations have been already deployed in all enterprises benefiting to healthcare, travel, manufacturing, entertainment, real estate and many more. mobile app development can play a key role in this progress.
Success Story of BinaryVR
Recently, California based startup called BinaryVR, facial tracking application platform, the three years old startup has raised a $4.5 million Series A with investment from Atinum Investment, KT Investment, Pearl Abyss and Kakao Ventures to grow and expand its business.
Let’s get into some insights about BinaryVR. It was founded in 2015 by Jihun Yu, Jungwoon Park, and Kenneth Ryu with a vision to provide seamless communication between AI and people’s everyday lives in the computer vision domain. They contribute top-notch facial motion capture solutions in various areas to promote products at the backend with the highest efficiency and precision level.
The startup develops real-time facial motion capture technology powered by the world’s best experts in deep learning and computer vision. Their technology combines a wide spectrum of facial landmark tracking, face detection, and expression tracking.
They also capable of developing real-time 3D characters, creating AR filters. Moreover, They support advanced applications of our technology in Artificial intelligence interaction from the fields of robotics, smart speakers, and automobile infotainment.
How You Can Use VR for Your Business?
Virtual reality can be a powerful tool for many businesses, Let’s have some examples:
- Healthcare: The healthcare industry was the first adopter of VR when other businesses were still on downlines. VR has got applications in medical training, treatment and major surgeries.
- Real estate: A good VR-based app for the real estate industry provides potential buyers to give the property detail and allows them how it would look like once it is built.
- Travel: Using the VR for the travel industry, it can expand travel experience and develop the behavior of travel consumers. Virtual reality allows potential consumers to get a look at the atmosphere of the destination they’re about to stay.
How Coruscate Helps You in VR?
Coruscate, a mobile app development company has been working hard on developing VR-based apps. We understand the VR market and are conscious of the businesses and end-users needs.
Our team has strong technical knowledge containing VR technology and easily approachable to your VR related solutions.
If you are planning for the VR app development, get in touch with us for the best possible outcome.