VR Adoption Featuring Insight from Gartner Hype Cycle Emerging Technologies

BlockVue Industry Insights 1 Comment

“We tend to overestimate the effect of a technology in the short run and underestimate the effect in the long run.” — Roy Amara, Amara’s law

Are you tired of hearing all the hype surrounding virtual reality (VR) and how it’s supposedly the next big thing in technology? Perhaps VR has yet to impress you, and you’re starting to wonder if all the commotion is just a bunch of gibberish. Besides, it’s been fifty-eight years since Morton Heilig—”the Father of Virtual Reality”—created the Sensorama (a finicky machine known as the first example of a transparently immersive experience) and VR still hasn’t achieved widespread adoption. The thing is, we understand entirely. In fact, we’d be worried if you didn’t feel that way.

Introducing the Proverbial Trough of Disillusionment

“You know what I noticed? Nobody panics when things go according to plan. Even when the plan is horrifying… nobody panics. Because it’s all part of the plan.” — Christopher Nolan (Joker), The Dark Knight

The reason we aren’t concerned is simple: we knew this would happen. While many people were slow to adopt the use of VR in its infancy, industry experts expected that. The subject was addressed during a recent SXSW panel titled How Does VR Become a Truly Mainstream TechnologyGiven Gartner’s analysis in the July 2017 Hype Cycle for Emerging Technologies, VR appears to be right on track for mainstream adoption. According to the report, “immersive VR applications are more advanced than other types of graphical simulations, and the time to plateau of five to 10 years is consistent with awareness, exposure to the technology, and overall adoption with consumers and more traditional consumerlike usage for businesses.*”

For the unfamiliar, Gartner is an American research, advisory and information technology firm that developed the Hype Cycle as a way to represent the maturity, adoption, and social application of emerging technologies on a branded graph. With a never-ending supply of innovative products hitting the market in this day and age, we believe it’s not uncommon for people to feel indifferent towards technologies when they’re perceived as being capable of changing the status quo.

 

Gartner_Hype-Cycle

Gartner Methodologies, Gartner Hype Cycle, https://www.gartner.com/technology/research/methodologies/hype-cycle.jsp

Gartner defines the Trough of Disillusionment as “interest wanes as experiments and implementations fail to deliver. Producers of the technology shake out or fail. Investments continue only if the surviving providers improve their products to the satisfaction of early adopters.” Given the sudden decline in VR’s popularity, we feel this need for change was apparent and quickly implemented by industries across the board, though the specifications varied within each.

When You Know Better, You Do Better

While traditional VR devices are quality VR solutions and work for VR applications, some do not effectively cater to the needs of commercial real estate professionals. Why? First of all, those options tend to be very costly, as they typically require expensive hardware to run; second, they’re not portable solutions; and finally, they’re not scalable with companies’ marketing efforts. VR for the sake of VR is one thing, but VR for what makes sense in commercial real estate is another.

Simplification was the key to improving

commercial real estate VR.

Recognizing this disconnect, BlockVue’s team of innovators created alternative VR solutions. Our modern technology brings commercial real estate VR to the palm of your hand with shareable walkthrough links that are quick to load and easy to access. BlockVue’s user-friendly, human-centric solutions are best suited for on-the-go CRE professionals eager to convert their prospects into customers.

A Look to the Future of Virtual Reality

We’ve said it before, and we’ll say it again: early adoption is the key. According to a study conducted by Renub Research, “it is anticipated that the Global Virtual Reality market will increase 8 times by 2020, from its current market size.” The future of virtual reality is very bright. As Gartner states**, ”Augmented reality (AR), virtual reality (VR) and mixed reality are changing the way that people perceive and interact with the digital world. Combined with conversational platforms, a fundamental shift in the user experience to an invisible and immersive experience will emerge. 

By: Alexa Davis—Content Strategy @ BlockVue

*Gartner, Hype Cycle for Emerging Technologies, 2017, 21 July 2017

**Gartner, Smarter with Gartner, Gartner Top 10 Strategic Technology Trends for 2018, October 3, 2017,

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