Augmented Reality and Virtual Reality – can enterprises plan and benefit from it? While price is a big factor in getting such technology into the workplace, we are not far from seeing this new trend as the new norm in a few years
Pokémon Go signaled the entry of AR/VR into the consumer market. However, the application in businesses such as construction, health care, and manufacturing cannot be ignored. The current application trend of VR solutions is more geared towards products that will allow users to immerse themselves in virtual surroundings that are based on actual places or imaginary ones. At the same time, AR solutions add layers of contextual information on immediate physical environments allowing the users to experience a blend of both.
IDC recently reported that it believes the total revenue for AR and VR markets will be at $162 billion by 2020.
A lot of companies are exploring this option to improve their services. For example, Volvo has partnered with Microsoft’s Hololens to offer a virtual showroom where the buyer and the dealer can see and interact with the same car. The buyer can then select the different rims and paint jobs for a more personal buying experience.
“With increased consumer interest in this sector, we can expect several technological advances and revenue increase in the next five years.”
AR and VR market revenue (2017)
growth by 2024
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