Virtual reality is not for teens at the moment
In a recent study by investment bank Piper Sandler, researchers have found that virtual reality technology may not be suitable for teenagers now. The study, conducted by a team of experts in child and adolescent psychiatry, suggests that VR can adversely affect young people’s mental health and well-being.
For years, virtual reality (VR) technology has been heralded as the next big thing in the tech industry. Still, according to a new survey by investment bank Piper Sandler, the technology has failed to capture the imagination or interest of the American teenagers. The survey, which polled more than 5,600 teenagers in the US in February, found that only 29 percent of the teens owned a device capable of VR, and only 4 percent of them used it daily.
Given that adolescents are frequently regarded as early adopters of new technology, this is a noteworthy piece of information. Their tastes might provide an indication of where the industry is headed. . Moreover, the fact that VR technology has failed to connect with adolescents who have traditionally driven the popularity of new electronics like smartphones or portable music players is a worrying sign for the future of technology.
The survey also found that only 7 percent of teenagers planned to purchase a VR headset in the future, with a whopping 52 percent saying they were unsure or uninterested. This is especially concerning for companies like Apple and Facebook, who have poured billions of dollars into VR and are expected to release new virtual reality headsets later this year.
Meta’s Quest 2 headset, released in 2020, is currently the leader in the market in sales, but even it is seeing declining sales. This is a worrying sign for the industry, which has yet to convince consumers that VR headsets are a must-have technology like smartphones.
“To us, the lukewarm usage demonstrates that VR remains ‘early days’ and that these devices are less important than smartphones,” Piper Sandler wrote in its survey.
The declining interest in VR technology among teenagers is just the latest setback for an industry that has been struggling to gain traction. In November of last year, Meta laid off 11,000 employees, including a number of employees in the company’s VR Reality Labs division. Earlier this year, Disney shut down its entire metaverse division, while Microsoft shut down a social VR platform it bought in 2017.
The survey also provided insights into American teenagers’ spending habits and preferences. Food was the top spending priority for males at 24 percent, while clothing was the top priority for females at 28 percent. CashApp was the most popular peer-to-peer money app, with a 41 percent share, while Venmo was second with 39 percent. Amazon was the favorite shopping site of 57 percent of the teenagers polled.
Regarding social media, TikTok was the top platform with 37 percent, followed by Snapchat with 27 percent, and Instagram with 23 percent. Netflix was the most popular video platform, with 31 percent, followed closely by YouTube, with 28 percent.
While the survey provides valuable insight into American teenagers’ spending habits and preferences, it also highlights that VR technology has yet to capture the imagination of this demographic. The lukewarm usage of VR headsets among teenagers suggests that the technology is still in its early days and has yet to prove its worth to consumers.
VR has become popular in several aspects of life, including education, healthcare, entertainment, and business. Here are some advantages of implementing VR in different elements.
Education
One of the most significant advantages of using VR in education is that it allows students to experience a subject in a much more interactive and immersive way than traditional teaching methods. It will enable students to explore and learn at their own pace. This helps students to understand complex concepts and retain information better. VR simulations can be used to create interactive environments that can simulate real-life situations. For example, students can learn about the human body by exploring a virtual 3D model or understand physics principles by experimenting in a simulated laboratory.
Healthcare
VR can potentially revolutionize medical training and treatment in the healthcare industry. Medical practitioners can use VR to imitate real-life medical scenarios and procedures. This allows students to practice and develop expertise in a safe, controlled setting without the risk of injuring a patient. VR technology can potentially treat patients’ anxiety disorders, phobias, and post-traumatic stress disorder. (PTSD). Exposure therapy, a type of treatment for anxiety disorders, can be provided in a safe and controlled environment using VR simulations to reproduce the fear-inducing experience.
Entertainment
The entertainment business is always looking for new methods to engage consumers, and virtual reality is proving to be a fantastic tool. VR gives an immersive experience that allows users to feel like that they are a part of the action. As a result, it is great for gaming, where players can interact with the game environment and other players. VR is increasingly used in the film industry to produce immersive experiences that immerse spectators in the story.
Business
VR has the potential to transform the way businesses operate. It can simulate real-life situations and environments, allowing companies to test new products or services before launching them. This can save businesses money and time in the long run. It can also be used for employee training, allowing them to gain experience in a simulated environment. This can be particularly useful for high-risk industries such as mining, where safety is a top priority.
Tourism
VR can be used in the tourism industry to provide potential customers with a virtual destination tour. This can give them a better idea of what to expect and help them decide to visit the destination. VR technology can also create virtual museums and exhibits, allowing people to experience cultural artefacts and historical events worldwide without leaving their homes.
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