Most of us think that VR and AR technologies are mainstream in streaming (360-degree VR videos) and gaming (Pokémon Go and other games) only. However, there is a significant potential of AR and VR in multiple industries.
Reduced cost of hardware and skilled developers have allowed startups and established technology organizations to develop AR and VR-based products and solutions for new use cases beyond gaming. This includes manufacturing, marketing, training and a lot more! Let’s have a detailed look at the use of AR and VR in multiple industries.
AR and VR aren’t just limited to gaming
According to a report published by Goldman Sachs, AR and VR technologies will have a much more diverse potential and the market size estimated to reach $35 billion by the year 2025. From the $35 billion market size, $16.1 billion is estimated from enterprise and public sector; and $18.9 billion might be taken by the consumer sector.
(source : Pwc)
If we talk about the diversity of the sectors, it can include healthcare, engineering, real-estate, retail, military and education. Talking about consumer sector, video games will dominate the sector. Besides video games, AR and VR technologies will have noticeable presence in live events and video entertainment.
Manufacturing: Improve productivity and efficiency
Manufacturing industries can AR and VR to assist and train their workforce. This will improve operational efficiency and workforce productivity. In the long term, it will result in reduced business costs and increased profitability.
(source : leuvenmindgate)
Plutomen ARMS It is an AR-based remote assistance app for technicians and engineers to provide remote technical support in real-time. It allows them to inspect, identify, and troubleshoot issues in machines.
Besides the lower cost of running the business, the cost of training and up-skilling your workforce will go down significantly in the future. Besides, AR and VR technologies will eliminate the operational consequences caused by human errors.
Healthcare: Treatment for health issues
Many companies are developing customizable apps to visualize patient health information in AR. (think about blood pressure and heartbeat of any patient).
Nowadays, healthcare professionals use VR devices prepare themselves before working on real bodies. VR is also used in the treatment of mental health.
(source : static.stambol.com)
VR exposure therapy is also effective in the treatment of PTSD and anxiety. A company named AccuVein has invented a scanner that shows various veins in a patient’s body to nurses and doctors where. This makes finding a vein on the first attempt 3.5x more likely.
Defense: create large-volume simulation environments
AR and VR technologies are being used in the various branches of the military to create large-volume simulation environments. This gives them an immersive way to optimize operations and provide training to new recruits.
(source : wikimedia.org)
A company named Bohemia Interactive simulations has developed a simulation software to create a virtual training environment for experimentation and mission rehearsal, and tactical training for Army, Air Force and Navy.
Marketing: AR-powered campaigns to immerse customers
Marketing is becoming more about how companies make customers feel. Coca-Cola was one of the first companies to do marketing activities by providing virtual experiences; they transformed one of their Christmas adverts into VR experience in Poland.
(source : touchstoneresearch.com)
Plutomen machinARie is an AR-based mobile app that allows users to see an AR-based 3D model of heavy machinery, and explore all the little parts. Making training, sales, and marketing more effective.
Travel: Increase travelers’ engagement across subjects
Imagine being able to try your holiday before you visit the place. There are solutions available to help potential travel makers to go on guided virtual tours of tourist landmarks, hotels and restaurants.
(source : sygic.akamaized.net)
Thomas Cook launched a VR experience in 2015, where travelers experience the holiday in VR before booking it. There was a 190% increase in bookings after people tried the 5-minute version of the holiday experience in VR.
From manufacturing to the healthcare, marketing and beyond
By the year 2025, AR and VR technology are expected to dominate in consumer electronics and reach the living rooms of consumers. However, manufacturing industries are already getting good results from these technologies.
AR and VR solutions are helping industrial organizations to have a better-skilled workforce, improve operational efficiency and achieve higher workforce productivity.
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