Virtual Reality (VR) and Augmented Reality (AR) have made impactful impressions over the past few years. These technologies have tapped into the lives of smartphone users and grabbed the attention of established and emerging brands, thus making marketers and entrepreneurs look forward to investing in AR/VR development.
Extended Reality (XR) is an umbrella term used to define both AR and VR technologies. XR has also come a long way and has been utilised as one of the immersive technologies in simulators.
Over the years, these technologies have moved from niche industries to mainstream use, with enterprises embracing them as a means to grow their business.
Practical Uses of AR, VR, and XR in Enterprises
AR applications are becoming more realistic for businesses. It gives users the real-life experience and feels of a product or an event that was previously impossible. For instance, IKEA promotes its virtual furniture installations, and Lenskart offers virtual try-on eyeglasses. These enhanced AR experiences do not need additional hardware.
Similarly, VR has become a part of our daily lives. Companies like Facebook, Google, HTC, and Samsung are creating VR devices to blend virtual and real worlds. Initially, smartphones with headsets were used together to deliver a VR experience.
As for XR, it has gained prominence in the wake of pandemic-induced disruptions. Companies have been adopting XR for powering remote support. In fact, XRaaS (XR-enabled remote support as a service) is now an emerging segment.
The Current AR/VR/XR Market Scenario
Both VR and AR have influenced the IT industry. In fact, their applicability has garnered value across several industries – entertainment, gaming, healthcare, automotive, energy, aerospace, defence, etc.
SMEs are investing heavily in AR/VR technology. A Markets and Markets study reveals that the market for VR and AR is projected to reach $114.5 billion by 2027, up from the estimated $37 billion in 2022. With the current market size and state, there is no doubt that the market will expand by leaps and bounds in the future.
How Is “Reality” Transforming Businesses Across Many Sectors?
AR/VR/XR pave the way for many possibilities beyond storytelling, gaming, and entertainment applications. The fast-evolving technology landscape is changing product development, connecting with users, driving revenue, and capitalising on innovation. To that end, here’s how “Reality” is used for different spheres of business for improvement.
From improving online shopping experiences to facilitating contactless trials, AR/VR has changed how consumers shop. Many retail giants have already begun to adopt these technologies because they offer both fun and utility at the same time.
Entertainment & Games
The gaming industry relies heavily on AR/VR technology. The viral game Pokemon GO fuelled the tremendous potential of the VR gaming industry. Experts are now experimenting with innovative ideas to create social gaming fronts using AR/VR.
Technicians involved in the manufacturing business can obtain virtual aid from remote devices or workers. This assists in detecting markings and errors and reducing guesswork, which is common in manual work.
Furthermore, the application of AR/VR also streamlines the manufacturing process, improves the efficiency of training, saves precious time, and results in high-quality items at a much lower cost. Escape rooms provide an exciting business opportunity too. Entrepreneurs can leverage advanced technology rather than developing real escape rooms.
The real estate industry enjoys significant benefits from AR/VR. You can walk inside any VR building and identify drainage or design issues. This has a positive effect on construction costs and project management, not to mention the saved time.
AR/VR can provide hands-on education or training for better safety. For instance, AR/VR allows surgeons to practice 3D surgery on human replicas before operating on a live patient. As such, these technologies allow users to develop their training programs keeping in line with the competence and confidence that the profession entails.
Travel & Tourism
Transportation modes, hospitality, reservations, local experiences, tours, and sightseeing are all a part of the travel and tourism industry. AR offers abundant business opportunities in this regard.
For instance, AR enables GPS applications to show routes to tourists, translate signs on the streets, and provide necessary sightseeing guidance. AR also makes indoor navigation more accessible with Wi-Fi, ultra-wideband, and beacons.
The healthcare industry provides many opportunities for AR/VR businesses. AR applications are used for several purposes, including assistance in recognising symptoms, allowing surgeons to see the patient’s body without making any incisions, etc.
VR, too, is a reality in hospitals. Organ mapping and simulation capabilities bode well. These technologies also ensure that patients experience less post-operative pain and trauma with a shorter recovery time.
Role of AV Solutions
As AR, VR and XR are gaining momentum in this rapidly evolving and dynamic world, audio-visual (AV) solutions are working to make the best use of their potential. For instance, a headset is the ultimate solution to any AR/VR experience in the entertainment and gaming world.
Immersive technologies require AV integration. Hardware for physical installation is combined with technology and software like AR/VR to create an impact. Other technologies like Big Data also play a key role in AR/VR integration with AV solutions.
As such, there are several prospective use cases of AR/VR with AV infrastructure. And the design of AV technology and installation must change to meet the growing needs of these technologies.
Altogether, audio-visual communication is more than just about what’s seen. It is about how things are experienced and perceived. Today’s AV solutions integrate technology and design in the creation of “experiences”.
To that end, when integrated with AR/VR/XR, AV solutions help realise effective interaction. Resurgent offers the finest immersive audio-visual solutions across diverse sectors. Explore our offerings here.