Virtual reality headsets can provide a much more enriched movie experience as they cancel out external distractions and ambient lights. In this regard, mixed
What is mixed reality?
Emerging technologies are transforming several industries acting as a catalyst for change and acceleration. As social, mobile, Big Data Analytics, Internet of Things and Cloud technologies democratize computing power and information access, Virtual Reality and continue to strengthen enterprise-to-employee and enterprise-to-consumer interactions.
AR and VR Statistics
- Goldman Sachs predicted that the VR and AR hardware market will touch $80 billion by 2025.
- Citibank expects the market for VR hardware, networks, software and content to reach $200 billion by 2020.
- More than 14 million U.S. workers will wear augmented reality headsets in 2025.
- According to ABI Research, AR headsets will deliver $46 billion in revenue by 2021, whereas VR will generate $15 billion.
- AR will focus primarily on the enterprise, while VR will emerge as a consumer play.
Technology that superimposes a computer-generated image on a user’s view of the real world, thus providing a composite view. Augmented reality apps development has been growing at a phenomenal pace. The year 2016 witnessed major tactical acquisitions and adoption by consumers and enterprises. The trend continued and looked even bigger in the 2017 with tech giants such as Google, Apple, Facebook and Microsoft making tactical moves to reaffirm its commitment to this technology.
Virtual Reality is a computer-generated simulation of a three-dimensional image or environment that can be interacted with in a seemingly real or physical way by person using special electronic equipment (such as a helmet with a screen inside or gloves fitted with sensors). VR provides users an immersive experience to uniquely explore the virtual world.
Industry Implementation of AR and VR
Healthcare: Right from 3-D operating room simulations to decentralized mental health treatments, VR and AR are expected to have wide-ranging applications. Virtual organ models facilitate surgeons to better prepare for delicate surgeries. VR and AR in combination with big data analytics, sensors and artificial intelligence – could upend evidence-based medicine and the way care is delivered.
Retail: For retailers, VR and AR headsets can serve as an important tool to accumulate value out of the data gathered from social media and mobile apps. Using HMD, store staff could track hands-free sales across multiple stores to make inventory adjustments in real time or assist customers by identifying the exact location of individual products.
Branding & Marketing: Marketing and branding communication conveyed through a VR or AR headset is likely to be highly effective for the simple reason that the experience is highly engaging, personalized and devoid of any distractions. VR and AR are expected to save time and money in areas such as collaboration, digital prototyping, design reviews and client presentations.
Manufacturing: Internet of Things (IoT) is transforming the manufacturing sector with sensors installed on the factory floor and on machines. This connected world creates opportunities for manufacturers to monetize software and data, improve operational efficiencies, streamline processes and revamp supply chains.
Entertainment: For creators of video games, VR headsets come across as a blessing, since they provide new avenues for immersive content. Movie makers are also on board the VR bandwagon – creating movies.
Education: If smartphones and tablets made learning more interesting for educators and students, VR and AR could revolutionize the education market through immersive learning in both primary and higher education.
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