HTC is betting big on enterprise for VR adoption

HTC is betting big on enterprise for VR adoption

HTC has signaled its commitment to spearheading growth in the burgeoning enterprise VR market with the launch of a new business unit and strategy dubbed Vive Enterprise Solutions.

Expected Investment Areas for Immersive Reality Business Insider Intelligence

The new enterprise-focused organization delivers a full range of VR solutions for businesses, including hardware, software, services, and support.

What’s HTC’s big play? HTC is banking on enterprise applications as a gateway to catalyze the wider growth of game-changing VR technology.

HTC is a trailblazer in the VR space, and the new unit signals its ambitions to extend its expertise into enterprise VR to realize new, lucrative growth opportunities. Aside from its consumer-focused VR headsets, HTC currently offers four headsets for enterprises — two of which were released in the last few months — and some business services and solutions.

The company now appears to be leveraging its ample resources and strong brand recognition to expand its VR offerings for the corporate environment. Specifically, HTC’s business VR offerings will address four key areas enterprises are investing in at this time: training and simulation, design and visualization, collaboration, and location-based entertainment.

HTC’s advancements will contribute to the growth of the global enterprise VR market and help it to capture meaningful share within it: Business Insider Intelligence expects worldwide enterprise VR hardware and software revenue will jump 587% to $5.5 billion in 2023, up from an estimated $800 million in 2018.

What’s ahead for HTC in enterprise VR? HTC’s ambitions to nurture a full portfolio of VR offerings based on industry-specific use cases will boost uptake of the tech in key industries.

Industries including healthcare, education, and military and defense hold the most immediate opportunity for mass adoption of enterprise VR in developed markets. These industries are not only the most suited for VR applications at this time, but also are seeing the highest demand for the immersive technology.

Moreover, the mentioned industries are seen as the most promising area for development in the near future. For instance, in a 2019 survey from Perkins Coie, healthcare saw a 17 percentage point increase from 2018 in the expectation for investment VR in the next year.

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