They say a picture is worth a thousand words. For some industries, virtual reality packs even more dollar signs. To get a sense for just how much, we reached out to leaders from three different industries. Here's what they had to say about how the technology is changing their business.
1. Ticket vending
"Unlike 2-D images, a VR depiction of an entertainment venue or sports arena helps ensure that consumers see how far a seat is from the stage, and how close they'll be to the players or artists. VR ticket selling helps buyers manage their expectations and assess the true monetary value of the seat they choose."
-- Manick Bhan, CEO of Rukkus, a virtual reality ticket vendor in New York City
2. Real estate
"Virtual reality's photorealism can zoom in on selling-point details of surfaces and lighting, as well as immerse you in views from a veranda that feel utterly real. Potential buyers or renters now have an emotional connection to what they're experiencing."
-- Boaz Ashkenazy, co-founder and co-owner of Studio 216, a Seattle company that creates virtual reality tours for the real estate industry
"VR tours help parents shortlist the colleges they'll visit and provide an immersive experience when a live tour is unaffordable. One parent gave high marks to a certain college for being so innovative and cutting-edge to offer a VR tour--and chose it for that reason."
-- Abi Mandelbaum, co-founder and CEO of New York-based YouVisit, creator of VR content for education, travel, and entertainment clients