Once the commercialization of 5G begins, 5G will help VR·AR go to the next round and immersive contents will grow explosively.
According to the new market research report, the VR market is expected to grow from USD 7.9 billion in 2018 to USD 44.7 billion by 2024, at a CAGR of 33.47% during the forecast period.
Once the commercialization of 5G begins, 5G will help VR·AR go to the next round and immersive contents will grow explosively. According to the book ‘Mobile Trend 2019’, the main reason for slow progress in previous immersive contents market is limits of the network which cannot transfer massive data.
For best VR·AR experiences, the 5G network will help provide more capacity with lower cost, low latency, and uniform experiences. In terms of speed, 5G is approximately 20 times faster than 4G(LTE), the amount of data at a time is more than 100 times and 5G is estimated to be 60 to 120 times faster than average 4G latencies. Based on these factors, immersive contents of VR·AR can be implemented well on 5G network and more killer contents in VR·AR are a necessity as the number of 5G subscriptions will reach 2.61 billion in 2025.
What is the the best way for contents companies to go forward in 5G? CIRCLE Inc, one of the leading VR contents companies in South Korea, will tell the right strategy for these companies in the 5G era. South Korea debuts with the world’s first commercial 5G services.
Sungmin Lim, CEO of CIRCLE Inc., commercializes K-MEDI VR(http://kmedivr.com), a Korean medical tourism platform for the purpose of information comparison based on VR technology after K-MEDI VR joined a government-funded program as it’s selected as one of the most promising IT startups in 2018. CIRCLE Inc. is a fast-growing content development company in South Korea.
“Future VR contents will bring about true technological innovation with 5G networks in more various area of games, medical fields, education, movies, cars, and advertising, etc. Global companies already strengthen their competitiveness quickly following the trend. I hope many other companies having their competitiveness improve their competitive edges in the world market together as 5G will be the best chance for VR companies and demonstrate the full potential of immersive contents.”
You can meet CIRCLE Inc. at B2B booth of PlayX4, one of the biggest contents exhibition in South Korea held from 9th to 10th of May in KINTEX, Ilsan, Gyeonggi-do, South Korea.