Virtual reality may still feel a little like the brash new kid on the block, but its origins can actually be traced back as far as the 1860s. Even if we think about familiar VR tech, the first head-mounted display (HMD) was already available nearly 50 years ago.

The barrier to entry for VR and augmented reality (AR) continues to be adoption. With so many false dawns, will VR as a mass market ever take off? If we still believe it has a sustainable future, who or what is going to move the dial and how will it be achieved?

We spoke with Hadrien iLanvin, board member and CEO of Innerspace VR, about the sector’s ongoing evolution. We discussed developments surrounding devices, content and the people at the heart of VR. We also talked adoption of the tech by business.

Lanvin says that big companies, startups, and academia must come together to make VR work. He feels that first, it is important for content creators and established technologies to work together and then academics must be brought closer to actual production and markets.

Expanding on this he says,

They are at the frontier of what is available at the moment —  which is already science fiction —  but they’re way ahead. People are wondering where the next Bill Gates or Steve Jobs is going to emerge. From an entertainment point of view, I’m asking myself where’s the next Spielberg or James Cameron is going to come from. What I know for sure, is that he is not going to come from traditional filmmaking. I think that VR and AR are the most promising fields in which the next James Cameron or Steven Spielberg is going to emerge from.

The Greatest VR Myth

Despite the fast-evolving nature of the technology, some might think that there is still no VR market as such. But that is not true, according to Lanvin. He says that when you enter a space you have to be “sensible” about the state of the market as it exists. He admits that although VR has some way to go, patience is required.

“The technology is in its infancy today,” Lanvin says. “But it’s not relevant to treat the VR market by the same standards that you would treat a much more mature industry. At the same time, you have to consider that this means there is huge room for opportunity. So, scale accordingly to the size of the market today, but bear in mind that the opportunities are going to be tenfold in the coming years.”