Virtual reality has emerged from a fringe industry just a few short years ago to becoming one of the most rapidly-growing technology sectors in Europe, with the EU’s VR industry reaching an all-time-high value of €700 million in 2018. As well as within Europe’s burgeoning gaming sector, VR technology is being successfully implemented by European companies to enhance education, therapeutics, construction, and even medicine. If you want to get a better idea of where the VR market is headed in 2020, take a look at these innovative companies that are well and truly raising the bar for VR.
Oxford VR
Oxford VR is a UK-based company with an ambition to use technology to improve the lives of patients suffering from a variety of cognitive issues. Their tailored VR programmes are designed by leading medical experts to give patients the therapy they need to overcome their conditions, all from the comfort of their home. They have already released VR courses aimed at helping patients overcome a fear of heights, vertigo, and psychosis. Despite only launching a couple of years ago, they have already secured a partnership with the NHS and managed to raise £3.2 million in seed funding in September 2018.
NetEnt
NetEnt is already a leader in the online gaming industry, providing digital slots, roulette, blackjack, and live casino services to countries all over the world. They are one of the few companies in this industry to break into VR, offering fully immersive gaming to customers with popular titles such as their Gonzo’s Quest VR slot game. Industry leaders have taken notice, which is why NetEnt was recently awarded three trophies at the prestigious Southern European Gaming (SEG) Awards, including one for Best Online Casino Provider.
FundamentalVR
FundamentalVR is another fast-growing company that works predominantly in the medical sector. Their tailored VR ‘experiences’ consist largely of virtual medical training courses aimed at helping aspiring doctors and nurses acquire the skills they need in a realistic virtual environment. Their hyper-realistic virtual surgery courses have won them numerous accolades over the past two years, as well as helping them secure more than £7 million in funding.
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ZenView
Employee wellbeing is at the top of the priority list for many major European companies, given how closely it is tied with overall productivity. ZenView aims to boost wellbeing with its range of VR therapy and mindfulness solutions aimed at employees working in stressful environments. Their products include relaxing games, guided meditation sessions, and user reports that let employees and their managers track progress and wellbeing levels. Since being founded in Luxembourg in 2016, ZenView has attracted serious attention within the industry.
Icaros
This German VR startup brings the amenities of an upscale gym to your living room, offering an immersive virtual workout with minimum equipment. Their basic home gym costs around €2000 and includes hours worth of workout courses and a full-body workout machine to accompany the headset. They have already raised over €3 million in seed funding, making Icaros one to watch in the year ahead.
The European VR market is booming, to the extent that it may well displace the US as the epicentre for VR services in the near future. Watch this space to find out.