Oculus Rift's first virtual reality (VR) headset has been targeted at the consumer electronics sector, specifically gamers, but its real significance could lie in commercial use.
Two years after being acquired by Facebook for $2 billion, Oculus Rift finally launched its hotly-anticipated device to the general public on Monday. The Rift aims to "radically redefine gaming and entertainment with 3D interactive content," according to the company's website, with over 30 video games available on the Oculus Store. More content will soon be added, including feature-length movies, Oculus said.
Experts, such as Zynga co-founder Tom Bollich, hailed the Rift's launch, comparing it to life-changing inventions such as computers and smartphones because of its potential to transform the technology market.
"The initial target audience may be gamers, but moving on from that, there are a lot of applications in the commercial space," echoed Kenneth Liew, senior research manager at market intelligence firm International Data Corporation (IDC).
Still, the Rift's high price point and specific computer requirements could deter most people from buying it, compared to Google's Cardboard and Samsung's Gear that are lower-end and mobile-based, Joost Van Dreunen, CEO of market intelligence firm Superdata, told CNBC's Street Signs.
Among expectations for global VR consumer revenue to hit $3.6 billion this year alone, according to Superdata, we look at five ways to incorporate the Rift into the greater economy outside of entertainment.