As organizations have transitioned to remote work in response to the Covid-19 epidemic, the usage of virtual reality and augmented reality technology has increased substantially.
Over and above, global expenditure on Augmented Reality and Virtual Reality devices, software, as well as services, including consumer sales, increased by 50% in 2020 to a whopping $12 billion.
As of 2020, 32% of users utilized augmented reality to shop. The AR and VR market for retail alone is predicted to peak at $2,094.08 billion by 2027, growing at a rate of approximately 68.5 percent from 2020 to 2027.
AR/VR has progressed from a niche tech to a significant trend in a variety of sectors. In this post, I will discuss how the virus and technological breakthroughs have propelled the need for AR/VR alternatives.
How Companies Use Augmented Reality /Virtual Reality in Their Work
Several firms were hesitantly interested in Augmented Reality and Virtual Reality before the epidemic, with only a handful genuinely ready to employ the technology. Some investigated ways to use this new technology in their enterprises. Others attempted to estimate growth expenditures to allocate resources for the future.
However, the circumstances have changed rapidly in the last year. Consumers are less afraid to actively integrate augmented reality and virtual reality in education as well as retail nowadays.
They also view it as a solution that will assist their dispersed teams and remote employees in carrying out their duties.
Firms are watching the market effect of these technologies and anticipate the pattern will continue.
A key factor as to why VR has grown in prominence is businesses started to actively employ VR collaboration platforms throughout the lockdowns.
Distributed team members could use headsets to connect in a virtual world. This virtual area might be a room or whatever ambiance you desire, as per the goals of the meeting. Attendees may sit at a table and pay attention to the key speaker, just like at any other gathering.
For instance, if they are gathering to review the concept of a vehicle that the firm intends to manufacture, they may all virtually stand around the automobile, spin it, unlock the doors, as well as explore it’s inside keenly.
Attendees will require the appropriate hardware to utilize this choice. For casual interactions, a Virtual Reality headset like the Oculus Rift is sufficient. However, haptic gloves or even treadmills are occasionally necessary. A lot of the time, a virtual avatar mimics an actual person’s motion in a virtual world; nevertheless, the avatar too can move in a virtual environment whilst a person sits still.
Augmented Reality /Virtual Reality tech is frequently used for Educative reasons by businesses. Their employees may learn complicated tech skills or learn a new trade in the comfort of their homes. In a virtual space, a novice can examine the technological procedure.
The global closure sparked interest in augmented reality smartphone apps that aid in the maintenance of complicated industrial equipment doing away with the assistance of outside specialists. A user has to point a tablet at the device and execute the instructions on the screen. These tools are being leveraged by several industrial entities.
Augmented Reality / Virtual Reality tech is also gaining popularity in retail. Merchants see the possibilities this technology stands to offer and are making full use of it.
A virtual garments store, for example, maybe a fantastic technology expansion for a retail firm. A program like this generates a 3D model of an individual from pictures, which is then used to suit virtual garments. Many businesses have created comparable programs that allow customers to digitally try on garments before purchasing them, so improving the clienteles experience.
Other Factors Contributing to the Increase in AR/VR Popularity
The shutdown has raised the demand for Augmented Reality /Virtual Reality goods, however, there are other variables, such as a significant advance in the development of alternative tech.
Users with no extensive tech knowledge can build, develop, as well as deploy their own complicated Augmented Reality experiences.
It is more than one endeavor that demonstrates how far technology has progressed. Sophisticated frameworks like AR Kit as well as AR Core have developed, while computational power and internet access have grown at an unparalleled pace.
When we contrast the present platform to existing ones four years ago, a significant difference is visible. Contemporary augmented reality encounters are better and a lot more lifelike. An additional factor fueling the growth of Augmented Reality / Virtual Reality is that both mobile devices now have more hardware capability than previously and that networking infrastructure provides an unparalleled connection. This enables the execution of increasingly complicated tasks.
Another influencing element is the overall increase of education and abilities. Developers and firms who create consumer-interactive AR/VR applications, on the other hand, have attained expertise in both resolving technological obstacles as well as comprehending business requirements.
As a consequence, essentially experimental tech is now seamlessly integrated into our daily lives. It has matured into an effective instrument for both business and leisure. Furthermore, Virtual Reality headsets are fast becoming more affordable as well as prominent in the Business 2 Consumer sector, increasing demand for technology.