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 might not fully understand what it entails. For some companies, it’s even considered an “unpopular†field, at least for now. In China, few businesses have made significant investments in VR research and development. Because of this, there are growing voices suggesting that VR is just a passing trend with no real future. But is that really true? Recent data from the media has started to challenge that idea.
Recently, the VR Fund released a report on the European VR market, highlighting how fast the sector is growing. According to the report, there are currently 487 VR companies operating across Europe. Compared to the previous year, 300 of these companies saw an increase of over 60%. What's even more fascinating is that these companies are spread out across all European countries, showing that VR is gaining traction everywhere, not just in a few places.
"We took a close look at this report and found some interesting patterns," said the head of Beijing Microview Cool, a well-known domestic VR technology company. "Each country has its own unique set of VR companies. For example, the UK has 46, France has 29, and Sweden has 19. When we compare these numbers with the previous data, it's clear that the growth rate in each country is quite similar." He added that the UK was one of the first to show strong interest in VR, followed by France and then Sweden, which has since seen a rise in high-quality startups.
The report also analyzed different VR companies, looking into their hardware and software capabilities, as well as the tools they use. It noted that investment in VR-related technologies has been increasing steadily. Each company tends to focus on specific application areas. For instance, while VR use in healthcare and education remains relatively low, it's already very popular in the gaming industry—and this trend hasn't changed much in recent years.
"The data in this report differs somewhat from what we see in China," said a representative from Weishiku. "In our case, we're focusing more on the education sector. From our perspective, it's a large and promising market. It's easier to create real value here, but there are fewer applications in entertainment, like games. This could be due to cultural differences and the varying levels of development in related industries between China and other countries."
He continued, "For example, our immersive VR education system has already been implemented in many schools, and the results have been very positive. Through our market research, we believe the education sector has huge potential for growth!"
Industry experts suggest that Europe often acts as a barometer for global tech trends. As the number of VR companies continues to grow in Europe, it's likely that similar developments will occur worldwide. In the coming years, China may also see a surge in VR startups and innovations. The future of VR looks brighter than ever.
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