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3 Jul 2020

Econ Digest

When VR technology meets 5G - The virtual reality entertainment business is just in time.

       The recent spread of COVID-19 has led to the disruption of live shows and sports events. It has also changed the watching behavior of consumers, who have largely switched from live watching to live streaming via online channels to comply with measures to maintain social distancing. However, watching on site via TV or mobile phone is still unable to meet the standards of attending entertainment events in person.
The fifth generation (5G) wireless communication era with faster data transmission speed and lower latency than 4G has brought business opportunities to virtual reality (VR) entertainment, because VR technology can offer 360-degree viewing angles and support for surround sound systems, giving viewers a close-up experience as if they were in a real venue. This technology, therefore, has the potential to take the viewing experience of shows and sporting events to a new level.

       However, virtual reality entertainment operators must be equipped with service infrastructure and need to be proficient in platform building expertise to provide content to some extent, which are the strengths of certain telecommunication operators in Thailand to operate VR technology.

       Based on the analysis on the current concert and sports industry, it is expected that the virtual reality entertainment business will create at least THB1.7 billion in added value to the telecom industry, and will initially increase the growth rate of the value of the concert and sports industry in Thailand by more than 0.64%. However, the number of users in the initial phase will depend on the marketing of this new technology to consumers and the extent to which pandemic lockdown measures are relaxed in the future. These factors will determine the future pace of the development of virtual reality entertainment.

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Econ Digest