6 Ways AR/VR Opportunities Could Transform Your Business Soon

Augmented reality (AR) and virtual reality (VR) applications may still seem like something that is far into the future of practicality for business use, but the future is coming faster than you may think.

Between 2021 and 2028, the global AR/VR market is expected to expand over 800% to more than 250 billion dollars. And while this technology is currently being used heavily in gaming and entertainment, it is quickly making its way into areas like construction, manufacturing, healthcare, and retail.

People are looking for more ways to connect in the virtual world as if they were in the physical world. This includes things like walking through the Louvre without needing to fly to Paris and being able to troubleshoot a building maintenance problem in real time from hundreds of miles away.

When thinking about the technology infrastructure and custom software development services that your organization may need in the coming years, it is smart to include AR and VR applications and experiences. This is where technology is going, and the train has already left the station.

Businesses that want to keep up will need to look at ways they can expand their capabilities and customer experiences with AR and VR.

What is the Difference Between AR and VR?

Augmented reality and virtual reality are connected by common threads, but there is a slight difference between the two technologies.

VR is completely virtual. Think of this as a model home in a new community being designed in a 3D world. Then potential buyers could move around in that virtual environment and feel as if they were visiting the real thing.

AR is a mix of virtual components overlaid in a real-world environment. An example of this would be walking through a downtown street and being able to see a map using virtual glasses that list the names and purposes of each shop as you pass it.

What Are the Top Business Uses for AR/VR?

Building Design & Construction

The use of VR in the construction industry allows design flaws to be caught early before they become extremely expensive to correct. Inspectors and engineers can collaborate in the environment without the need to be there in person.

Engineers are also able to walk through a construction project in real life and use an AR application to see the design overlaid over the environment. This allows them to catch variances between the original design and what has been constructed.

Retail

There are a lot of drivers for AR and VR use in the retail industry. This includes allowing consumers to see how a new living room set would look in their room and being able to see and compare products in a more realistic way.

Consumer preferences are driving retailers to offer more augmented and virtual reality experiences. Here are some of the recent statistics from consumer surveys:

71% of people say they would shop more often if they used AR
61% of consumers say they prefer retailers with AR experiences
40% of shoppers say they would pay more for a product that they could customize in AR

Manufacturing & Maintenance

AR and VR in the manufacturing industry enable more optimized troubleshooting and maintenance activities. For example, an expert from an equipment supplier could assist a maintenance technician on the ground in real time remotely, being able to see what the technician sees.

Digital twins are becoming popular in manufacturing and building maintenance as well, which allows simulations to be run and confirmed in VR first to optimize the real-world facility.

Real Estate

Virtual tours that are more than just photos make it easier for buyers to view a property in detail before making a decision. This creates more opportunities for selling to out-of-town buyers and allows people to see what available customizations would look like to scale.

Being able to visit a property using AR that is loaded with a person’s furniture specifications and images, enables them to virtually decorate a potential property while making a buying decision.

Education & Training

Education and training can both be enhanced by the use of AR and VR, which allows for a more realistic experience for the student / apprentice. For example, someone training on a complicated repair or maintenance process could do this in a virtual environment that replicates the real-world experience.

Healthcare

Being able to see what is happening inside a patient based on a visualization of test results reduces the need for more invasive techniques. This type of technology is already being launched in hospital environments to allow medical personnel to provide care more efficiently and with better patient experiences.

Explore How AR/VR Might Improve Your Capabilities & Growth

Let’s open a conversation about your digital future! Twin State Technical Services has custom software integration experts that can consult with your Quad Cities area business on potential uses of AR and VR that would work well with your mission.

References linked to:

https://www.statista.com/statistics/591181/global-augmented-virtual-reality-market-size/

https://www.tsts.com/software-development/

https://www.tsts.com/blog/the-shift-to-ecommerce-improving-buyer-experiences-across-industries/

https://www.threekit.com/20-augmented-reality-statistics-you-should-know-in-2020

https://www.tsts.com/contact/

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