  Objectives: This paper presents an up-to-date overview of research performed
in the Virtual Reality (VR) environment ranging from definitions, its presence
in the various fields, and existing market players and their projects in the VR
technology. Further an attempt is made to gain an insight on the psychological
mechanism underlying experience in using VR device. Methods: Our literature
survey is based on the research articles, analysis of the projects of various
companies and their findings for different areas of interest. Findings: In our
literature survey we observed that the recent advances in virtual reality
enabling technologies have led to variety of virtual devices that facilitate
people to interact with the digital world. In fact in the past two decades
researchers have tried to integrate reality and VR in the form of intuitive
computer interface. Improvements: This has led to variety of potential benefits
of VR in many applications such as News, Healthcare, Entertainment, Tourism,
Military and Defence etc. However despite the extensive research efforts in
creating virtual system environments it is yet to become apparent in normal
daily life.
