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Business Wire October 21, 2003 Virtual Reality Industry Value Expected to Show Substantial Gains as War and Improving Economy Provide Impetus; Longest On-going Study of Virtual Reality Industry Enters Sixth Year SAN FRANCISCO--(BUSINESS WIRE)--Oct. 21, 2003--The impact on the ongoing war on terrorism, combined with the up-tick in the US economy, are expected to be the impetus for major gains in the size of the virtual reality/visual simulation industry, says CyberEdge Information Services President, Ben Delaney. CyberEdge Information Services has studied this industry since 1991, and today announced the launch of their sixth annual study, The Market for Visual Simulation/Virtual Reality Systems, Sixth Edition. This study is the world's largest and longest running look at the industry. It covers all countries where the VizSim/VR industry is active, and to date has surveyed more than 30,000 people on six continents. The study culminates each year with the delivery of a report on the findings. The 2003 findings will be published early next year. Last year, the 214-page report included 142 tables and 83 charts. Among the findings were: -- The value of the VizSim/VR industry in 2002 was $36.2 billion -- Over 308,000 VizSim/VR systems were sold in 2002 -- The most valuable applications in terms of industry revenue are: Energy exploration and productions, Psychotherapy research, Other Medical Research, and Computer Science research Virtual reality (VR) and visual simulation (VizSim) are interchangeable terms for the use of interactive three- dimensional computer graphics combined with sophisticated simulation systems to provide a believable "world" in which training, entertainment, medical diagnostics, and many other experiences can be provided. VizSim/VR is being used for military training, visualizing underground deposits of petroleum, planning radiation therapy for brain tumors, and to train astronauts, along with many other applications. The technology provides many advantages, including reduced cost of prototypes, reduced risks of training for hazardous tasks, and the ability to simulate situations that cannot exist on earth, such as the weightlessness of spaceflight. Three of the fastest growing applications for VizSim/VR technology are military training, oil and gas exploration and production management, and virtual prototyping. The military uses the technology to train personnel in dangerous operations, vehicle operation and maintenance, and for mission training. The petroleum industry has found that the advanced visualization capabilities offered by VizSim/VR allows them to save money on drilling, and manage refineries and pipelines much more efficiently. Virtual prototyping is providing major cost savings and offering design innovation in industries from heavy equipment manufacturing to athletic shoe design. CyberEdge Information Services, Inc. provides market research, marketing consultation, presentations, and commentary on the virtual reality industry and other emerging technologies. They work with clients around the world to help companies develop new products and understand the markets in which they compete. Founded in 1991, CyberEdge is an internationally trusted source of reliable information for and about the virtual reality industry. The 2002 edition of their report, The Visual Simulation/Virtual Reality Marketplace, Fifth Edition (ISBN:1-929696-06-X), is still available. For more information on CyberEdge Information Services, and this report, visit their web site at www.cyberedge.com. They can also be reached at 407 M.L. King Jr. Way, Oakland, CA 94607, 510 419-0800, info@cyberedge.com, www.cyberedge.com.
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