Alibaba officially announced plans for virtual reality

Alibaba Group Holding Ltd (NYSE:BABA), the Chinese e-commerce giant, announced that it is diving into the virtual reality space with the launch of its own VR lab, called the “Gnome Magic Lab.” The company said that the first ever project for the VR lab will be to develop a 3D virtual warehouse with a view to integrate virtual reality applications into the shopping experience.

So why is Alibaba getting into virtual reality industry?
Well, one reason is that the company wants to be a step ahead of the other e-commerce giant.
The second reason is that Alibaba believes that virtual reality applications will eventually become as common as television. Virtual reality is a hot topic in tech and it looks like the technology is poised to take off over the next few years.

Alibaba officially announced plans for virtual reality 1
A recent report forecasts the number of virtual reality applications sold will reach 2.5 million in 2016, 12 million in 2017, and 24 million in 2018. The same report says that by 2018, virtual reality devices will become a $4.0-billion market.

Now, more and more company getting into virtual reality industry and various data shows virtual reality applications will become as common as television. So, takes the opportunity as quickly as you can, seize the “Virtual reality entertainment market”. Zhuoyuan VR devices let you shuttling between virtual and reality and get a big profit.

Alibaba officially announced plans for virtual reality 2

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