With global IT companies such as Google, Samsung Electronics and Facebook expanding ecosystems of VR and AR, the stakes of VR startups are increasing. This is because while making VR and AR devices and 360-degree cameras and distribution channels.
Moreover, game engine companies’ distribution of free VR content production tools are facilitating start-ups’ access to VR contents. Unity is one of such game engine companies. Industry experts are advising that start-ups will be able to grow stably by catching VR popularization trends and reinforcing their contents capabilities.
According to leading foreign news outlets and the local industry, the rapid growth of the world VR and AR markets is fueling division and congregation among companies. Mostly, multinational companies, which are building VR and AR platforms, have been taking over start-ups which produce contents or devices. Recently US-based M&A advisor Digi-Capital predicted that the VR and AR markets will value at US$200 million this year and will be worth US$5 billion in 2018 and US$150 billion in 2020, respectively, showing a rapid growth. To prepare for market growth, Google took over Magic Leap while Samsung Electronics did Fove and We VR. Oculus became an affiliate of Facebook. China’s BAT (Baidu, Alibaba, Tencent) are also working on production of VR contents. “Start-ups cannot compete with Google with VR devices but can with VR contents,” said famous IT blogger Robert Scoble in Silicon Valley who visited Korea recently.
In addition, Tractica, a VR market analyzer, predicts that contents will account for two thirds or more of the entire VR market in 2020. The company also analyzes that VR and AR contents will be used in users’ everyday lives such as education, game, sports, performances, tourism, real estate and medicine among others.