Virtual Reality companies in 2023

The world still perceives Virtual Reality as some Sci-Fi concept. However, it is already present on the market and numerous businesses have been working in this niche for years. There’s definitely no shortage to compile the list of top-rated virtual reality companies, and that’s what we aim to do here. We’ll categorize top virtual reality companies of 2023 by their main specialty as follows:

• Virtual Reality platforms. These companies focus on the development and distribution of software and include engines, tools, and SDKs to create virtual reality projects.
• Custom VR development companies, working directly with clients and bringing their ideas to life (outsourcing) and VR app development companies, with main focus on designing and building their own Virtual Reality apps of various types, and games.
• Industry-specific VR solutions. Similar to custom development companies, but targeting one or two market niches: real-estate, sports events, education etc.

Now, let’s take a closer look at all 22.

Top Virtual Reality companies

iTechArt is not accidentally named the AR/VR winning company. Consisting of over 1800 developers and software engineers, the company offers full circle Virtual Reality solutions for all kinds of needs. Having over ten successfully launched AR/VR projects, the team developed core functionality solutions to fully serve the client’s business purpose. 

Specializes in cross‑platform compatibility, iTechArt crafting consistent cross-platform virtual experiences and recognition‑based applications for retail, education, healthcare, real estate, manufacturing, media, and entertainment industries. 360-degree video, 3D models, 3D rendering services, mixed reality content – there is nothing that iTechArt is not capable of.

Groove Jones is a team of over 50 professionals who have been developing award-winning AR projects as well as VR (Virtual Reality), ML (Machine Learning), and AI (Artificial Intelligence) Applications since 2015. The company’s remit includes Web AR development, Mobile AR Apps, IoT/HMD AR, and AR Glasses Development, as AR for Print.

Besides, the designers of Groove Jones are there to create social camera effects, filters, and lenses for Facebook, Instagram, and Snapchat. Groove Jones’ clients include Corona for which guys created a WebAR, Verison -AR Facebook campaign, and Samsung – XR horror theater and AR photo booth.

Providing solutions for all sorts of devices from smartphones to headsets and glasses, Iflexion is a top-tech AR/VR development company with over 20 years of experience. Thanks to the expert team of 850+ skilled software professionals, Iflexion is capable of everything including integrated solutions with other disruptive technologies such as AI, IoT, as well as haptics.

The company’s client base is overwhelming as it consists of over 500+ customers from startups to Fortune 500 enterprises. Besides AR and VR technologies, Iflexion works on its own entrance to XR and is willing to contribute with businesses that want to keep up with cutting edge technology.

Virtually Live works in the field of sports and sport events, creating virtual action for anyone to join. For better fan experience, the company offers people to live through real sports events in virtual reality. With Vive or Rift you can witness the action from various locations of your choice (like a director of TV broadcast). All fans of football games, motor races, baseball, et cetera can watch sports in new way. 

Lucid Reality Labs is a spatial technology agent that has created a number of successful VR solutions for large enterprise clients and the world’s top brands amongst which are Medtronic, Mars Incorporated, L’Oréal, Procter & Gamble, Philip Morris, and many more. Their portfolio includes a variety of immersive VR solutions from promotional projects, technical trainings, educational simulations to gamified experiences.

The team successfully incorporates their creative approach and expertise as well as the latest technological solutions to build highly realistic experiences and provide users with a complete virtual world immersion. Lucid Reality Labs developers create solutions for a variety of hardware, including Oculus and HTC headsets, VR consoles, iOS / Android smartphones, mocap, and eye tracking systems, creating highly immersive VR projects.

HQSoftware is a team of strong VR professionals who are eager to complement businesses with purpose-driven VR solutions. Such companies as HTC, Canon, Sega, Honda, BBC, Skoda have already partnered with the company to create apps for educational, marketing, production, and other purposes.

The company’s specialists utilize Unity, GearVRf SDK, Oculus SDK, headsets such as Samsung Gear VR, Oculus Rift, HTC Vive, Google Cardboard and Daydream, PlayStation VR. See this VR application by HQSoftware created to show drivers how hard and dangerous drunk driving is. The application streams distorted visuals in real-time.

Survios is a small studio in the USA focusing on VR game development. With the principle of “gaming as an art form” they create stunning experiences like Sprint Vector and Raw Data with a full-body play available on SteamVR. The team tries to make VR as human as possible, thus devising the “active VR” approach in their work. It implies six integral parts:

• Immersion – realistic physics, graphics, lighting, movement, haptics;
• Presence – wide field-of-view, high definition images, accurate tracking, etc. for non-virtual perception;
• Embodiment – a virtual avatar of a user, that aligns with a real body and reacts like it;
• Free movement – 360-degree mobility not bound by wires;
• Shared space – a digital space where everyone can interact with each other;
• Dynamic spectating – a possibility to view VR activities from outside, like in a theater.

East City Films is a production company dedicated to illuminating the world across traditional and immersive platforms. Since 2007 they created branded content, documentaries, television, music content and since 2015, virtual reality and 360° video with immersive studio VR City.

Whether it’s a documentary about human trafficking in Myanmar, a brand film for The Guardian, a concert film at Shepherd’s Bush Empire or a VR documentary about the UK’s indefinite detention system, the company strive to immerse audiences in stories which live long in the memory and transform emotions. Recent work, built-in Unity and funded by Creative XR, is a fully interactive VR documentary about the Aylesbury housing estate in South London.

Appentus Technologies is a leading mobile app and Web Development Company with branches in India, UK, the USA, and UAE. With a team of dedicated technology experts, creative designers and quality software developers, our company is renowned for meeting up with the needs of clients who desire top class products and services.

Creative Solutions provides high-quality virtual reality content for client companies who want to tell their story through immersive, tailor-made VR experiences. Virtual Reality has proven itself as an incredible marketing tool and Creative Solutions uses that potential of VR to help clients promote their products in the best possible way. Creative Solutions is the brains behind VR Live – your premium solution for live event marketing.

VR Vision is an XR (Extended Reality) company that provides immersive technology solutions for business. They provide a virtual reality, augmented reality, 3D 360 video, and web and mobile apps! The company creates custom platforms for immersive training using cutting edge virtual and augmented reality development.

TT PSC from Poland is present in the software market since 1991, working in the field of 25 years software development and integration, IoT, Virtual Reality, Augmented Reality, Mixed Reality, product lifecycle management, etc. With over 200 experts under one roof (well, actually across several offices throughout Europe) the company provides a wide range of expertise.

Platforms and tools to build interactive apps and products, like Vuforia, ThingWorx, Axeda, FlexPLM, Atlassian, ServiceDesk, Java, iOS, Android, Windows Phone, Amazon Web Services, Selenium, WebDriver, GIT/SVN, JavaScript, Angular, jQuery, Bootstrap, React. In terms of VR/AR, AR seems to be of more emphasis on the PSC team.

Gramercy Tech is a custom software development agency, also delving into Virtual Reality experiences. They focus on VR content creation, design and development of immersive experiences, employing a team of numerous programmers, designers, and inventors.

Also, a long term partner for some of Fortune 500 companies, providing services in real estate software, gaming, AI, etc., and even interviewed by the Washington Post about multimedia and entertainment trends of today. One great VR project example could be a virtual bike race designed for LINC exhibitions offering 2-minute race competition for attendees.

Bringing custom apps for VR, AR, blockchain, AI, motion graphics, voice recognition, etc., Notion Theory from Washington, USA, works in the development and design of VR products.

Though, predominantly they work in mobile and web apps, in terms of Virtual Reality this team focuses on two categories of products: stationary VR and walkable VR. The first one is a really affordable solution working on Google Cardboard and average mobile phones. It mainly offers 360-videos that enable experiences similar to virtual ones. It is shareable through Facebook or YouTube, and thus quite popular among customers.

For walkable VR, with additional sensors and connected to a PC/laptop, Notion Theory builds apps designed for HTC Vive and Oculus Rift. In addition, they utilize hand controllers, sensors and various portable elements to allow more user control within virtual environments.

Famous for their “digital experiences in physical places”, i.e. producing animations for exhibitions, fairs, tradeshows, festivals, etc. This experimental marketing agency, founded in 2011, is known for its high-quality work with touch surfaces, gesture and motion, VR and AR, projection mapping, etc. Their average charge per project is $25,000-$30,000.

Their client list is pretty impressive, with brands like NEC, Intel, LG, American Girl, Audi, and even US Federal Reserve System (!). Next/Now team is based in Chicago, USA and comprises designers, software engineers, VR storytellers, motion graphic artists and managers (24 total). Since 2011 the agency has built an extensive portfolio of fruitful VR projects, e.g. trade show, concert, sports, restaurant experiences.

This software company from Ukraine has been around for 25 years already and completed about 700 projects of various scope. Currently, their main focus lies in virtual reality development, augmented reality development, mobile app, and cross-platform development, gaming, 3D modeling, and animation.

In terms of VR, they offer services in creating apps for virtual training/simulations, interactive 3D, virtual tours, mixed reality. Technical expertise includes Unity,  Xamarin, Unreal Engine, .NET, Java, JavaScript, Angular, React. Products showcases include Mirinda VR desktop app, Magrabi VR store, VR hotel.

A team of 50 software engineers, designers and VR enthusiasts from Ukraine who focus on interactive application development, modeling, animation, and 360 videos. From the very idea to post-launch support – they’ve got everything one requires in regards to virtual reality apps, AR/MR apps, UX, 3D graphics and modeling, game creation, video production, and streaming, e-commerce software, etc.

Moreover, their own R&D lab is constantly researching new VR tools and VR hardware, develops VR/AR prototypes, arranges workshops. Among top customers, we can spot Samsung, Credit Agricole, Audi, Lexus, Philip Morris and more.  

Merge is targeting mainly toys for children older than 10 years, and producing unique VR goggles for gaming. But the company also is creating fun and entertaining virtual reality apps for exploratory and educational purposes. “Miniverse”, a library in the form of a game for kids to learn about the universe, is one nice example. Or “Invasion” for Merge Cube. Overall, they offer VR apps, games, 360-videos, musical experiences, educational apps, and more.

ScienceSoft is a US-based IT consultancy and software development company that focuses on AR/VR software implementation. With 700+ employees on board, the vendor has 31 years of experience in delivering low-latency, immersive software, 24 years in creating highly realistic 3D models, and 14 years in developing mobile-specific mixed reality apps.

Targeting various VR and AR hardware, ScienceSoft leverages Unity, Unreal Engine, CRYENGINE, and other robust development tools. The company caters to a wide range of industries – including healthcare, retail, education, and manufacturing – and helps businesses achieve 2.5x cost reduction
compared to in-house development.

A small but highly ambitious company from Croatia, founded in 2008. Its core specialties are iPhone/iPad, Android, HTML5, Unity, Augmented Reality, gaming, JavaScript, Swift, web design and web development, etc., though they are also working on Virtual Reality apps.

For example,  DinoAR app for educational purposes, which is primarily an AR app, but also has a VR mode for Google Cardboard and other headsets. There are lots of other undisclosed projects as well, for big clients like Mitsubishi, Kawasaki, Chocolapps, AG Design, Dentsu, Bappz.

Industry-specific VR companies

VironIT is a software development company that uses a well-balanced set of technology skills to build incredible Virtual Reality experiences. VironIT VR development team focuses on custom solutions for a range of top Virtual Reality headsets and platforms, including HTC Vive, Windows Mixed Reality, etc. Check a VR app they developed in the video below.

They also offer state-of-the-art game development, using specific gaming engines like Unity and Unreal Engine. The company uses a wide experience to ensure that clients have the best technical solutions to solve their business challenges and deliver value for their organization.

As the final VR company in our shortlist, SpaceVR has 2D cameras on satellites constantly orbiting the Earth. That whole sentence really blows our minds! Think of it, 360-degree cameras actually mounted on satellites.

Their team consists of actual astronauts and ex-NASA employees, creating beautiful educational VR videos of our planet and space around. With a 1-year subscription ($35) or lifetime subscription of $99, you can enjoy 4K quality virtual reality content. Videos from the Overview 1 satellite, rocket launches, 360-timelapses, real-time feeds, while more interactive features are in the works.  

Final thoughts

As you might have noticed, VR has already the potential to enter various areas of our lives. Most likely, it is only going to strengthen, if more innovative products emerge. Tech giants like Apple, Facebook, Microsoft, Samsung are investing tons of money into VR research and development. And even smaller Virtual Reality companies and startups sometimes invent products that have no less of an impact. So let’s keep an eye on what’s going to happen next.

P.S. Anything substantial we’ve missed? Keep us posted in the comments section.

FAQ

Q: What is a Virtual Reality development company? 
A: It is a company that develops a computer-generated experience that recreates the artificial environment of life situation and involves the user’s sensory experience including sight, touch, hearing and even smell. Usually, the team consists of VR developers, graphic designers, 3D artists, spatial sound experts, and engineers. VR development companies provide such services as VR game development, VR training simulation, VR tour production, and 3D model creation.

Q: How does Virtual Reality development company work?
A: To create VR experience developers commonly use cross-platform game engines as Unity 3D, Unreal Engine. To develop and implement a client’s project, a VR development company typically makes such steps: Establishing ideas and goals, Concept creation, Motion Prototype, VR development, Beta testing, Improvement, Release. Another crucial issue during the VR development process is design methodology. The purpose is to create a conceptual framework that ensures the correct representation of the virtual world necessary for practical activities. As a rule, VR development companies charge a one-time fee per the whole project, while freelance VR developers charge per hour. For more details, see the paragraph below on pricing types.

Q: How much does the Virtual Reality development company charge?
A: The cost of development depends on complexity of future VR app. A simple VR app or elementary VR game development will cost $3,000 - $9,000. For example, 360 Virtual tour costs rates starts - from $3,500; Architectural Visualization - from $4,000; 3D Runner from $5,000. VR for online stores will cost $10,000 - $30,000. VR apps and games of middle complexity will cost $30,000 - $85,000. VR Shooter cost rates start from $65,000 for one level and $30,000 for every next level.  It may depend on devices where VR experience will be performed: short and quite simple VR experiences for mobile headsets as Samsung Gear VR, Google Cardboard and Google Daydream will cost approximately $25,000 and more. For example, it could be 2D imagery in a 3D environment. Medium-size and more complex VR experiences for the same headsets will cost approximately $75,000 - $100,000. For example, VR with a detailed scenario, character design, interactive elements, and spatial audio. Complicated VR experiences for high-end headsets as Oculus Rift and HTC Vive will cost $150,000 - $200,000. It is mainly considered VR games.

Q: How to choose a Virtual Reality development company?
A: By VR development experience. Define the field of the company’s expertise, it may be: game production, model creation, VR tour production, training simulation, product demo or event presentation. By portfolio. Every valuable VR development company has a portfolio on its website. Through it, you can find out the level of VR experience quality and the level of the company’s team expertise. By pricing. Usually, the VR development company provides two types of pricing: fixed price or Time & Material format. By clients’ feedback and ratings. It is also good to check the feedback from former clients and contact them to get more information about cooperation with this particular VR development company. 

Q: Industries where Virtual Reality development can be used
A: Virtual reality is widely used in plenty of industries. Areas that already benefited from cooperation with Virtual Reality development companies are: Education - VR finds its implementation in schools and colleges. Retail - VR is a great solution for online store owners who added model creation and showroom options to their official website. Game industry - there are a huge amount of VR games such as Beat Sabet, Echo Combat, Moos, Blade, and Sorcery. One of the most impressive is Edge of Nowhere in which the user becomes a hero makes his way to rescue a missing expedition. Architecture - construction companies benefited from it because now they can construct a building and show it to the client in advance. Tourism - VR experiences allow travelers to plan their trips better and take a look at future destinations. The most amazing are: Google Earth VR, Everest VR, The Grand Canyon Experience and Destinations. For instance, in Everest VR user feels like a participant rather than a viewer because VR contains a lot of interactive mountain climbing elements.

Q: Difference between VR development company and freelancer?
A: Advantages of working with the freelance developer: Lower pricing,  Easy to find, Flexible schedule. Disadvantages of working with the freelance developer: Risks - freelance developer usually works on a few projects simultaneously so you never know how much time he devotes exactly to your project; Lack of self-organization, Low level of product’s end quality. Advantages of working with full-cycle VR development company: Reliability, Team of professionals, Smooth workflow. Disadvantages of working with full-cycle VR development company: Higher pricing. Usually, a freelancer is a narrow-focused specialist and if he lacks some expertise you will be enforced to find another freelancer or to hire one more. And you also need to keep in mind that freelancer is less predictable, so as a result, he can break the deadline of the project. On the other hand, cooperation with the VR development company is more expensive but in the end, you will receive high-quality service. A company will provide you with a team of professionals with expertise in different fields so you will build a reliable and long-term relationship.

Q: How long does it take to create a VR experience?
A: It depends on the complexity of the required VR experience: the simplest VR experience will require 3-5 weeks for development. In this category can be elementary games. VR experience of middle complexity requires 4-6 months. It could be a VR model creation, product demo or development of more complicated VR games. Complex VR experience requires at least 1 year and more for development. For example, MMORPG (massively-multiplayer online role-playing game).

Q: What is the difference between VR & AR?
A: Virtual reality shows virtual objects inside the virtual, digital environment while Augmented reality shows virtual objects in the real, physical environment. With the help of Virtual reality experience, user can totally immerse into the artificial world. Using such headsets as Oculus Rift or Google Cardboard users can be transported into the imaginary world for example, in a spaceship. In Augmented reality, users see and interact with the digital elements which were added to the real world. Normally it’s enough to use the camera on the smartphone. The most famous examples of Augmented reality are the Pokemon Go game and Snapchat lenses.