Latest Update 2020: Virtual Reality (VR) in Healthcare Market by COVID19 Impact Analysis And Top Manufacturers: CAE Healthcare, Firsthand Technology, EON

What will be the trending technology in 2019?

According to Lumus By 2025, AR will be big in the video game market, accounting for an estimated $11.6 billion out of what will probably be a trillion-dollar business by that time. (That’s a conservative number for AR gaming.) And there are plenty of other industries where AR (and virtual reality) will contribute to revenue by 2025. Healthcare at $5.1 billion (imagine devices that can find veins faster than a phlebotomist), engineering at $4.7 billion, live events (picture Kanye dancing…with Kanye!) at $4.1 billion, the military at $1.6 billion, and the list goes on. Even at the low end, the education market will make $7 million using AR products.

Looking at some specific industries, the infographic indicates that in real estate and home improvement, for example, $2.6 billion in 2025 will be driven by features such as interactive 3D walkthroughs using VR headsets and using AR to drive by a home and instantly get information on it using your mobile device, no Zillow search required. Ikea is already in on the act: It has an app that scales its items for sale to depict what they’d look like in pictures of your own home.

There are other industries like the Retail industry that AR and VR technology its takin over and have a really big future as well.

This is a great example so you can have a good inside about AR and VR in the retail industry.

Mobile AR Disruption

The secret weapon that will lead to AR’s boom is mobile devices. AR’s ability to be deployed on mobile phones or tablets makes it more accessible than VR, which requires headsets for use. The fact that AR can be used on the devices that we all carry in our pockets every day makes adoption easier, less intimidating, and more affordable. Nowadays more app developers are using implementing AR technology to their apps and it has been a really successful technology for smartphones apps a huge example of this is the Pokemon Go app game people really like the fact that they were are to catch pokemon out in the streets and parks of their city it made the smartphone user feel like they were in the hunt for pokemons.

Augmented Reality in Manufacturing

AR adoption has been quickly climbing in this industry, especially as IoT has found its place in the manufacturing world through intelligent objects. AR offers these users a “data to human interface,” which means that users can utilize intelligent objects equipped with AR to see a worldview augmented with a rich set of data.

A rising subset of AR software, Industrial AR platforms, is specifically intended to assist those in the manufacturing fields. Not only do these tools enable industrial employees to visualize a data set, but they can also assist in physical labor jobs. For example, if an employee needs to repair a part, AR content can be overlayed onto the existing product, so that the user can see what the end result should look like. Industrial AR tools can also be deployed by multiple users at once so that a supervisor can see what his or her employee sees as they work in the field.

VR Industry Is Rising steadily

VR industry promises quite some innovations in industrial transformation and improvements in the way people experience the world. In 2015 and 2016, VR was on the cusp of the new trend, but the industry turned into a very low point last year, a lot of companies went bankrupt or shut down, while some survived and became today’s industrial pioneers. Although the VR industry is still in the valley currently, it is rising steadily. As the technology develops, devices such as VR headsets and VR cameras are getting more affordable and providing better experience, data transmission become faster, the barrier to produce and enjoy VR content is lower than what it was before, which allow more people get access to enjoy VR content. After they get to know VR, the demand for more quality VR content would grow, which stimulus the expansion of VR market.

VR Content Is Becoming More Immersive

VR content creation and tradition films share some similarities, such as add the fascinating spatial sounds and visual effects to reinforce the immersive experience, but VR content offers the sense of “presence” – the feeling of actually being part of an artificially created place. Such an idea is contradictory to the conventional perception of cinema. The audiences are absent from the conventional films. They are all-perceiving, staring at the characters and comprehending the plots as spectators. Nevertheless, in VR videos/films, the audiences could be part of the story. Comparative to being a sole spectator, they could move things around in the virtual scene, get distracted by exploring around, or even decide how the story could go. In VR videos/films, the audiences become the characters and have the power to control the VR stories through interactive components.

VR in the Business World

When creators are struggling to create a comprehensive storyline and immersive VR experiences for the audience, corporations and organizations have already started to apply VR to their business. The two most significant applications are medical therapy and professional training.

A study found that VR could be used to treat phobias. “In a clinical trial of a new virtual reality treatment for fear of heights, participants reported being much less afraid after using the program for just two weeks,” the study said.

Shuai Yuan, Chief Growth Officer of insta360, shared a story accordant with the study results. A doctor from New York used insta360 Pro to treat autism and PTSD patients by filming the things that his patients were afraid of, the subway for instance and showed to his patients. By doing that, the patients can experience whatever they are afraid of in a safe environment, which helps them overcome their fears.

Zu mentioned how VR used to treat drug addictions. Therapists will get the individual with the addiction put on a VR headset and navigate them through various scenarios. By using the exposure to the drugs they are misusing in a virtual environment, the therapists can monitor patients’ responses and teach them the coping skills.

Professional training is another field that VR has widespread uses. There are many professions in which making mistakes can be disastrous, such as those of a surgeon, pilot, soldier, race-car driver or other professionals. Because the simulative training in these fields has always been a challenge, a virtual environment can sufficiently help them prepare for the real-world scenarios.

5G Networks Are the Gateway

Today, VR/AR developers are limited by various factors like thermal efficiency, sensor, multimedia technologies, and other technical factors.

Slowly but surely computer architecture innovations, such as heterogeneous computing, have improved power and thermal efficiency. Integration efficiency has improved due to better transistors and Moore’s Law. Optimized algorithms, such as motion tracking, run better on the hardware.

However, the real gateway for amazing unlimited experiences for VR/AR in an increasingly mobile world…is 5G networks. According to NBC news, 5G networks are projected to bring three benefits to the masses.

  • Faster speed: Data transfer speeds are projected to be about 10 times higher with 5G than is possible with 4G. Expect significantly faster transmission of images, videos, and immersive content. With 4G/LTE, downloading a high-definition movie might take about 10 minutes. With 5G, it is reported to take less than a second.
  • Shorter delays: Though it’s not always noticeable, there is often a brief lag in time from when data is sent to when it’s received. 5G should reduce this so-called latency, making it possible, for example, to watch high-speed virtual reality video with no delays or glitches.
  • Increased connectivity: Cell towers equipped with 5G technology would have greatly increased capacity over 4G/LTE. Which means more people with devices should be able to communicate at the same time without any volume lag errors.

5G is the fuel that will lead to extraordinary innovation in not just virtual and augmented reality, but also broader technologies like IoT and how we connect with each other on the internet.

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