The field of computer-augmented reality is heating up, fueled both by system capabilities and consumer demand. The realm of extended reality (XR) has various fiefdoms, labeled Virtual reality (VR), Augmented Reality (AR), and Mixed Reality (MR), depending on how much they intrude into and modify the user’s world image.
- According to a BCG and Mordor Intelligence survey, the current market value for AR/VR/MR is around $30.7 billion, and the market size worldwide of the AR/VR/MR market is to rise to $300 billion by 2024.
- Upskill predicts that 6 million smart glasses will equip U.S. workers in two years.
- Seven percent of the U.S. population uses VR, and 28.1% use AR monthly, based on an Insider Intelligence and eMarketer report.
- An IDC report forecasts a $4.1 billion investment into training use of AR/VR/MR.
- Kommando Tech states that 70% of consumers believe AR can bring them benefits.
Closing The Skills Gap: As more jobs become remote, VR has become an increasingly used tool for training employees and staff. Employees can also develop skills that directly apply to those needed on the job.
Lower Maintenance And Service Costs: Remote service through AR/VR/MR technology has created cost efficiencies and increased throughput without reducing customer satisfaction.
Design And Production Efficiency: Parts and mechanisms can be digitally created and tested in AR, VR and MR solutions before production starts. This helps reduce time in R&D, ultimately driving down costs.
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Implementing AR/VR/MR In Your Organization
- Do proper research to find out if the technology at the current level is effective and valuable if used in your company.
- Educate people in your organization about the technology and its potential. This training will help different functions develop proposals on how they could possibly benefit from the technology.
- Provide incentives for technology adoption proposals from different units.
- Decide on the pilot area to implement the technology. The best pilot area could be where something is not working as expected and where the new technology can change the situation for the better. Understand the costs, functionality, usability and, most importantly, testability of the new implementation.
- Decide on what function and scale the technology will be implemented. It is important to identify if the chosen technology will be AR, VR and/or MR.
- Identify your key stakeholders and customers (internal and/or external) and engage with them from the beginning.
- Build a project and allocate a dedicated team and resources to it—and offer productive support by committing to a full program.
- Create an implementation blueprint.
- Set expectations for pilot success. This will help prove technical feasibility to management or serve as a credible model for other units in the organization.
- Communicate openly and frequently about the direct value of the technology to your organization and its success—and how it will be adapted.
- Have a plan ready to help your organization build momentum on your successes.
You may also start your analysis by looking at the IT staff augmentation company portfolio and case studies as well as reading some reviews to see who is offering the best services.
What Opportunities is AR/VR/MR Creating?
- The Metaverse: A new era of possibilities is created in the virtual world. Everything we do in the physical world will eventually be possible in the virtual world. Social interaction, work and even trading art in the form of NFTs can be accomplished in the metaverse, which AR/VR/MR solutions have enabled.
- Tech For Enhanced Living: Simple everyday tasks are enhanced using AR/VR/MR. Wearables will be used to give tutorials for cooking, building, creating and everything in between. Kinesthetic learning is one of the most preferred forms of learning and will continue to increase in popularity due to generational shifts. Ultimately, this provides a significant advantage for this technology.
- A New Way To Sell: More compelling marketing efforts are created from the implementation of AR/VR on websites. From showing off the design and features of products to offering a complete product demo, AR, VR and MR provide significant advantages to marketing and sales.
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