When Facebook changed the company name to Meta in 2021, it looked like the company would be taking the lead to bring virtual reality into everyday life. The company promised in 2021 that it would create an interconnected and immersive digital world where users could engage in socializing, working, learning and creating. Meta invested over $60 billion since then to create metaverse technologies.
In the market, Meta released a series of Quest virtual reality headsets that were popular with some gamers but never got wide acceptance. The most successful product is Ray-Ban smart glasses, which are largely a phone you wear as glasses and that don’t include VR technology.
This month, Meta announced its new priorities for the future, which don’t include more exploration of the metaverse. The company laid off 100 workers from Reality Labs, and there are industry predictions that Meta will back out of metaverse research by the end of the year.
At least for now, this kills the idea of having virtual reality meetings at work and of taking virtual vacations. There were predictions in 2021 that this would be the new killer app for broadband usage and that home VR would finally be able to fully utilize home gigabit connections.
However, virtual reality has not been a total bust. A recent article in Wired describes how virtual reality has been embraced by manufacturers. There are some major advantages to being able to build a virtual version of a factory to try new ideas.
Cited in the article is report from the World Economic Forum that believes that industrial virtual reality will be a $100 billion business by 2030. This new industry might best be described as spatial computing. This combined virtual reality and augmented reality to benefit industrial applications.
The purpose of industrial VR is to create simulations of large industrial settings. The article says that Amazon uses a virtual simulation of its warehouses to train the robots that move and retrieve packages. Lowe’s uses the technology to consider its options before changing store layouts. There is a long discussion of how BMW uses the technology to improve efficiency in its auto factories.
Virtual reality for gaming is far from dead, and a dozen companies are making headsets for gaming. But the idea that we’ll all create avatars of ourselves that will navigate in a virtual world is going to go on the shelf for a while – maybe forever.


