Virtual Reality in Events Industry: Emerging Themes

Running head: EMERGING THEMES
EMERGING THEMES
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1EMERGING THEMES
The topic, which is discussed in this article, is about the theme: virtual reality in the
events industry. With the advancement of technology, people have moved to the virtual world
where an individual can experience a location or an event while being in another location. This
article explains how the virtual reality can be useful in the events. For giving virtual reality,
experience proper arrangements also need to be done with high-end technology so that the user
can enjoy the experience without any issue.
The virtual reality companies will have a huge impact on the event industry companies.
The companies like Wizcraft, Percept, Cineyug will be highly benefited by the use of virtual
reality in their companies. Using the VR technology will enhance the customer satisfaction and
will help them in gaining a lot of customer in their organized events. This will help them
increasing their brand image in the market (Van der Wagen and White 2018).
The VR technology will change the way of the entertainment. People will be more
involved in the activities and the technology will provide many benefits to the event industry
companies. This will help the event management companies to gain customer of different age
segments in the next 5 years. There is a possibility of Virtual reality theatres, which will give a
huge push to the revenue of the event industry companies. Use of VR technology will give
many small event management companies to grow in the market (Aghion, Hemous and
Kharroubi 2014).
Virtual reality will provide opportunity for the people to have 3D experience in a more
refined way. 360° video is becoming very popular and this can be seen by the introduction of
360° picture from Facebook and Apple (Newman 2017). Virtual reality has been used in many
events earlier. Events like sports events, conferences, music concerts and award ceremonies have

2EMERGING THEMES
already used the virtual reality technology. It helps people who are not able to attend the events
and ceremonies to have a seamless experience. People are applying the virtual reality creatively
and in 2017, the first virtual reality ceremony has been organized. On 2017, Mobilseye
surprised people by introducing driverless car with the help of virtual reality software.
However, the cost of the virtual reality technology is relatively high but it is expected to come
down in future (Biocca and Levy 2013). It is expected that the VR market is going to worth 30
million dollar by 2020. Piper Jaffray, the investment bank estimates that 500 million VR
headset will be solved by 2025 (Shaikh et al. 2018). While most of the user thinks that the
virtual reality is only associated with movies and video games, the technology can be, also have
a huge impact on the workplaces. The virtual reality software can provide following solutions to
the organization- Virtual reality can help people to empathize with other individual and some
organization is applying virtual reality for this exact purpose. Businesses can use this technology
to help employees to get closer to the customer for providing better customer satisfaction.
Virtual reality can help employees in making better decision. With the help of the virtual reality
technology, the employee can get the opportunity to build the exact scenario in virtual
reality world and then they can analyze the decision, which will help them in making decisions
that are more effective (Wibowo and Deng 2013). Virtual reality will help in providing
opportunity to the stakeholders to engage in any meeting if they are not able to attend for any
uncertain reason. This will help in increasing stakeholder’s engagement and will help in making
decision. Apart from this virtual reality can help in many other ways. Virtual reality can help in
training procedures. Virtual reality is proving to be a revolutionary technology in the field of
medical science. Earlier students used to practice on the mannequins, now they practice in a
more interactive way and it responds quickly and rectifies them during when needed. The virtual