Your Digital Self: Here’s why you will be hearing more about virtual reality

Facebook released the first Oculus Rift in 2016, along with a promise that Virtual Reality (VR) would not only radically redefine entertainment, but also the way we share content, learn, and communicate.

In 2017, Facebook FB, +1.81% CEO Mark Zuckerberg stated his company’s goal was to have a billion people eventually using VR. Fast forward to 2019, and 171 million people use VR worldwide.

In 2016, only a handful of VR headsets were available; currently, you can choose between a multitude of models with varying price range and different features. Some +14 million of these Head Mounted Displays (HMDs), including augmented reality ones, are expected to be sold this year, and the market is projected to boom from $6.1 billion in 2016 to $160 billion in 2023, with an expected five-year compound annual growth rate (CAGR) of 78.3%, according to IDC.

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