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Why Virtual Reality Is Vital Ebbe Altberg, CEO of the company that created the virtual 3-D world Second Life, answers your VR questions.

By Mikal E. Belicove •

This story appears in the March 2016 issue of Entrepreneur. Subscribe »

Ivan Garcia | Shutterstock.com

Brands are already experimenting with VR. Among them, the NBA shows 360-degree game footage, Marriott Hotels loans headsets to guests so they can take "tours" of exotic destinations and Ford uses VR to help design its vehicles' interiors. By the year 2020, Altberg believes, VR companies will be generating more than $150 billion a year in revenues -- and you may want a part of that.

Isn't this a little speculative? I don't even know anyone with a VR headset.

That'll change sooner than you think. VR has wide business potential -- a company can connect with remote staff as if they were all in the same room, a carmaker can offer test drives, real estate brokers can provide buyers with walk-throughs of entire buildings and a dressmaker can even offer a virtual fitting for a wedding dress.

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