The New Reality regime has begun!
Augmented Reality/Virtual Reality offers significant business opportunities. As per Statista, by 2021, the augmented and virtual reality market is expected to reach a size of $215 billion. For AR alone, ARtillry Intelligence projects consumer AR revenues to grow to $14 billion by 2021. Let us dwell on details to catch up on 4th generation AR/VR platform (Platform evolution: Personal Computer -> Web -> Mobile ->AR/VR).
Augmented reality (AR): Takes our current reality and adds something to it. It does not move us elsewhere. It simply “augments” our current state of presence, with clear visors
Virtual reality (VR): Transpose the user bringing someplace else. Through closed visors or goggles, VR blocks out the room and puts our presence elsewhere.
With AR/VR today’s businesses stand to reap unprecedented benefits by revolutionizing “try before you buy” concept. AR/VR is reimagining business models exploring the business relevance and potential revenue-generating power of this emerging technology. AR/VR is presenting an opportunity to the marketer in giving people a taste of the product, an experience, they couldn’t refuse to buy. AR/VR is simple to use. You need not be a coding-computer-technological master in order to build your business around it. With 360ViewCameras at a reasonable price, build awesome experiences, offer your experience with branded VR cardboards to win over clients. The following are few quick bites on trends fuelling markets.
The shift in Supply chains:
AR/VR offers retailers the opportunity to transform how people shop…try on shirts without having to travel to the store…order furniture on the spot, confident that it’s right for the house…elevate customer service, and create a differentiated, personalized customer experience. [And for the] 380 million connected cars by 2021…with secure payment functionality,…Drivers could be alerted when their smog certification is about to expire or if a specific car part needs replacing, …scheduling a service appointment or ordering the part that has the combined lowest cost and fastest shipping time… insurance offerings, paying for gas without a physical card or zipping through the drive-thru.
Augmented Reality technology to assist industries with precise site or field information in real-time…Industrial internet and …consumption based IoT model across industries to realize ROIs before hitting product end of life.
How about starting a Create VR supported dating agency?
With possibilities of mobile AR/VR apps, long-distance couples could easily go on a date in a virtual world and decide which scenario they want to experience. Oxytocin levels would still rise and even better, couple that could not experience things together otherwise will be given the opportunity to do so with the VR technology.
From e-commerce to travel, education and real estate companies, benefits of enabling clients to experience a taste of the product first hand are massive.
Read my blog posts in AR/VR space.