The technologies of virtual reality and augmented reality have developed significantly and offer new areas of application for companies. A study provides insight into how these are changing companies and the economy.
A new study provides insight into future developments and the use of virtual reality (VR) and augmented reality (AR). It looked at how these technologies could help companies change the way they work, engage customers and colleagues, and increase their earnings. The study also shows the effects on the economy.
AR Technology Is Mature
Neither virtual nor augmented reality are new technologies. But there are two overarching trends that can ensure that their use increases significantly:
- The economic benefits are now much more attractive and technological advances are creating an improved user experience.
- The user experience with VR and AR may have been cumbersome in the past. The hardware and software have been further developed. The content can now be processed in a more sophisticated way and the improved connectivity opens up a new range of business use cases.
5G Supports VR / AR Technologies
The speeds of 10 gigabits per second promised by the 5G networks will almost certainly advance the VR and AR technologies. The faster data transfer reduces latency and enables a smooth, rich, and engaging user experience. 5G will also mean that the devices are no longer so dependent on built-in data processing or storage since this is instead being moved to the cloud. This lowers costs and enables more user-friendly designs.
Which Industries Benefit From AR Technology?
From the health sector to production to retail and the consumer goods industry, all industries will benefit from virtual and augmented reality. Because VR and AR technologies can not only make processes and procedures more efficient but also the way in which people work together.
There are various possible uses for these technologies:
- AR and VR technologies make it easier to develop products and services. In addition, companies can collaborate in virtual environments. That saves a lot of time and money. Automobile companies, for example, use virtual reality to shorten the time between the first design and the physical modeling from weeks to days.
- In the global healthcare sector, AR and VR technologies are already helping to train doctors. You can participate in operations up close without having to stand in the operating room yourself.
- In the area of further education and development, for example, very realistic training scenarios are generated.
- VR and AR increase the efficiency and productivity of employees, and they also support the improvement of processes. For example, engineers can get real-time information through an AR interface to quickly identify problems and perform repairs quickly.
Many companies recognize the opportunity to create new sources of income and expand existing ones. Although this has to be supported by a solid business case, the use of VR and AR can also help to position a company as innovative and future-oriented within its industry. This, in turn, helps attract business partners, investments, and talent.
Influence Of AR / VR On Everyday Work
VR and AR are currently influencing around 824,000 jobs worldwide. By 2030, that number could increase to 23.4 million. In Germany, every hundredth employee would come into contact with this technology.
Companies should continue to develop VR and AR technologies. It makes sense to focus on solving business-critical problems, such as,
- Improving security
- The reduction of costs
- The acceleration of product development.
It is particularly important to focus on users and to create a positive user experience.
