Is AR/VR Friend or Foe for the Future of Businesses
Technology that connects remotely is valued more than ever. Augmented Reality and Virtual Reality (AR/VR) have taken the world by storm.
AR/VR is not a new term; it has been around since 1982 and was coined in 1977, though AR/VR in business has been limited until recently. However, as the popularity of Augmented Reality and Virtual Reality grew, and business leaders became aware of their potentials, they became an integral part of their business operation. We have also witnessed an unprecedented surge in VR app development requirements in the last couple of years.
The Adoption of Virtual Reality into Business Process
Even after it is a widely adopted technology across many industries, its potentials are being questioned: if Virtual and Augmented Reality are friend or foe. Having firm faith in technology innovation can be tricky as many technologies are introduced in the market every now and then. But, most technology that comes with a lot of hype does not last long.
Thankfully, that’s not the case with VR technology. AR/VR has been in the market for more than four decades, supporting most industries from education, retail, and healthcare to manufacturing, real estate, fashion, and hospitality. The technology will last longer, and this is evident with the fact that the global market of AR/VR is projected to reach 30.7 billion US dollars in 2021 and $297 billion in 2024.
So, the data and graph must have given you a glimpse of if it is going to be a friend or foe. Of course, it is a friend and will remain supporting businesses, making the most out of it.
Now, let us prove our points by bringing some other facts and figures;
- The sales of AR/VR headsets accounted for 5.5 million united in 2020
- VR gaming device shipment in 2019 accounted for 2.8 million units
- The consumer spending on AR/VR reached 6.36 billion US dollars in 2020
- However, the spending is projected to rise 72.8 billion US dollars in 2024
Top Industries Likely to Benefit from Augmented and Virtual Reality
VR software development is on the rise and seems to take a new height in the coming years. AR and VR mobile apps are helping businesses with effective marketing, and we are going to witness cutting-edge technology as space invaders in the next few years. Let’s take a look at the top industries that will benefit from AR/VR software advent.
VR Applications in the Retail Sector
Augmented, virtual and mixed reality has a big impact on all industries, eCommerce is one prime beneficiary. With the integration of VR technology in Retails, the marketing of products has become easy. It has enabled users to visualize and interact with content in a real environment. Using a VR mobile app, users can see how the products look or appear in reality. For example, watch on the wrist, sunglasses in selfie mode, shoes, and more. That means users can virtually try things in a real environment before buying.
VR Software in Manufacturing
Manufacturing sectors can benefit from Virtual Reality software. For example, virtual design and prototyping can be made easy. Take the example of Airbus; the company uses VR equipment to train their staff, including crew members and pilots, without involving actual aircraft. Similarly, other manufacturing companies can utilize the technology for various purposes, from simulating the production process and configuring assembly lines to identifying potential technical threats and capturing employees’ movement.
Augmented and Virtual Reality Software in Construction Sector
Suppose you have a client who cannot visit your construction site physically but want to see how the apartment looks in reality. Virtual Reality software will help you make it easy. Take the virtual reality device to your clients and showcase the building using immersive technology. For example, your client can visualize the building even if it is not ready; can see the surrounding; interact with the doors, bedrooms, kitchen, and others even if it is not ready.
That’s just one example; there are plenty of VR applications for construction sectors, ranging from marketing to productivity.
Virtual Reality in Automotive Sector
Omni-commerce is popular among the automotive sector in the car buying process. VR in the automotive sector enables car manufacturers to do effective marketing by showcasing vehicles. Consumers can visualize the vehicle virtually and even purchase vehicles safely. Customers explore features of the car, interact with vehicles internally and externally. How the new feature will work, what is the dimension of the vehicle, and what are accessories.
Benefits of Augmented and Virtual Reality
The popularity of AR/VR has grown manifold in the last couple of years. The technology has grown, helping industries with effective marketing and sales growth. Let’s take a look at the potential benefits of VR apps today.
Best Customer Experience
VR technology provides effective marketing for your business by enabling the ‘try before buy concept. For example, if you are running a furniture showroom, you can see how it looks and feels at your home. Are you going to buy a car? You can try a VR test drive before you buy. A mobile app by Lacoste allows users to try shoes virtually before they buy shoes. Similarly, you will find plenty of such examples in real states where customers are given VR devices to visualize the home and see how it will look and feel once ready.
VR Technology to Boost Performance
Whether it is to provide interactive and customized content to users to market your products and services, VR apps can make the most of it. With virtual reality applications, you can not just market your services and products effectively but also enhance performance and productivity. Business performance lies behind the performance of the VR app, and it depends on the quality build and project scope. VR app development service providers like Dash Technologies, with over 11 years of experience in this field, understand quality VR applications.
VR Apps Provide Effective Learning and Training Tool
Whether you are running a manufacturing company, real estate, healthcare, fashion or entertainment, or education, VR software solutions can help you provide effective training to your team. Learning using immersive technology can be most beneficial for the education and manufacturing sectors.
Just a minute of video can do what your team can’t do with a physical meet. VR Technology serves multiple business objectives by providing an interactive and immersive experience to customers, clients, and your in-house team. It saves time, effort, and cost without making you spend millions behind it.
VR Technology for Marketing
Augmented and Virtual Reality was originally meant for marketing, though it is used for various purposes now. Whether you are running a fashion store, real estate business, a manufacturing company, or others, you can do effective marketing using AR/VR software. The only thing it requires is you must know what you want to achieve from it.
Today, no business is immune to technological advent. AR/VR is the most significant advent, helping modern businesses fulfill the demand of today’s tech-savvy generation. Whether you want to provide satisfying services to your customers or initiate an effective marketing campaign for your business, AR/VR development software is the tool for you.
At Dash Technologies, we provide Augmented & Virtual Reality development services and build an app for all industry verticals. We help you build highly efficient and cost-effective AR/VR apps for your business. Let’s connect today and get home a trusted solution.
We’re technology experts with a passion for bringing concepts to life. By leveraging a unique, consultative process and an agile development approach, we translate business challenges into technology solutions.
Author: Dash Technologies Inc
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