The number of European VR companies to achieve huge growth industry or will usher in another outbreak
When it comes to the VR industry, many people still find it confusing or even unexciting. In fact, for a lot of companies, it’s seen as an unpopular niche—especially right now. In China, only a few firms are heavily investing in VR research and development. This has led some to believe that VR is just a passing trend, not something with real long-term potential. But is this really true? Recent data from the media suggests otherwise.
Recently, the VR Fund released a comprehensive report on the European VR market, highlighting how fast the sector is growing. According to the findings, there are now 487 VR companies across Europe. Compared to previous reports, that's a 60% increase, showing strong momentum. Even more interesting is the geographical spread—VR startups are popping up in nearly every country, indicating widespread interest in this emerging technology.
"We were intrigued by the report and found some fascinating trends," said the head of Beijing Microview Cool, a well-known domestic VR tech company. "Each country has its own unique set of VR companies. For example, the UK has 46, France has 29, and Sweden has 19. What's clear is that the growth rate across these countries is quite similar." He added, "The UK was one of the first to embrace VR, followed by France, and now Sweden is catching up with a wave of high-quality startups."
The report also analyzed various VR companies, looking at their hardware, software capabilities, and tools used. It noted that investment in VR-related technologies is rising, and each company tends to focus on specific industries. While VR adoption in healthcare and education is still low, it's being widely used in gaming—and this trend hasn't changed much over the years.
"Our data differs a bit from what's reported in China," said a representative from Weishiku. "In our case, we're focusing more on education. From our perspective, this is a huge market where we can create real value. However, there are fewer applications in entertainment, like games. This might be due to cultural differences and the maturity of the local entertainment industry."
Weishiku has developed an immersive VR education system that's already being implemented in schools with great success. "After conducting market research, we’re confident that the education sector has enormous potential for growth," they added.
Industry experts believe that Europe often sets the tone for global tech trends. As VR companies continue to rise worldwide, it's likely that China will soon see a significant increase in its own VR startup scene in the coming years. The future of VR may not be as uncertain as some think.
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