Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Report highlights potential of NZ's virtual reality sector

Report highlights growth potential of New Zealand’s virtual reality sector
The Ministry of Business, Innovation and Employment has welcomed the release of a report that forecasts New Zealand’s cross reality sector will reach over $320 million in annual revenue and employ double the number of people within two years.

Cross reality (XR) is a term used to describe the continuum of immersive technologies that blur the line between the physical and digital world, including virtual, augmented and mixed reality.

The report, VIRTUAL GETS REAL: The Explosion of Cross Reality in New Zealand, showcases the New Zealand XR sector, highlights some of our achievements and success stories to date and predicts strong growth for the sector over the next few years. For example, it calculates that around 1,100 people currently work in the sector New Zealand and predicts that this is set to increase to over 2,200 people by 2019.

MBIE Policy Director Kim Connolly-Stone says the report will help government, industry and academics to identify the challenges and opportunities associated with XR and what it means for New Zealand and our growing digital economy.

“The report is critical to helping us better understand our local XR industry. For example, the report recognises our strong position in some market segments such as holographic capture, local games development and augmented reality,” Ms Connolly-Stone says.

“The growth of our XR sector has the potential to create new high-value jobs, export opportunities and improve productivity and competitiveness through the application of these technologies across other sectors such as health, education, and entertainment.

“Government has an important role to play in helping New Zealand adapt to this change by making sure the policy and regulatory settings are fit for purpose and by investing in the connectivity infrastructure and the skills needed for the future. This will help to ensure we are positioned to take full advantage of the benefits that new technologies such as XR can offer.

“This is a key part of our digital economy work programme, which includes similar work focused on helping us better understand emerging and disruptive technologies such as Artificial Intelligence and the Internet of Things,” Ms Connolly-Stone says.

The report was commissioned by the New Zealand VR/AR Association in partnership with the Ministry of Business, Innovation and Employment. It is the first of a two-part exploration into the New Zealand XR ecosystem.

The report is available at: http://www.nzvrara.nz/nzvrara-report-one-virtual-gets-real-oct2017/

[ENDS]

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Climate Summary: NZ’s Equal-2nd Warmest Year On Record

Annual temperatures were above average (+0.51°C to +1.20°C above the annual average) across the majority of New Zealand... 2018 was the equal 2nd-warmest year on record for New Zealand, based on NIWA’s seven-station series which began in 1909. More>>

ALSO:

GDP: Economic Growth Dampens In The September Quarter

Gross domestic product (GDP) rose 0.3 percent in the September 2018 quarter, down from 1.0 percent in the previous quarter, Stats NZ said today... GDP per capita was flat in the September 2018 quarter, following an increase of 0.5 percent in the June 2018 quarter. More>>

ALSO:

Up $1.20: $17.70 Minimum Wage For 2019

Coalition Government signals how it will move toward its goal of a $20 p/h minimum wage by 2021... “Today we are announcing that the minimum wage will increase to $17.70 an hour on 1 April 2019." More>>

ALSO:

Retail: IKEA To Open In New Zealand

Inter IKEA Systems B.V. is today announcing its intentions to grant the Ingka Group exclusive rights to explore expansion opportunities in New Zealand. More>>