AR-VR Technology is a revolution; this reality has become a big name in the technology space since its invention. These realities have shaped into a new era of leaps and bounds that the human race is experiencing today. Inventions rule the world and Augmented and Virtual Realities have marked its presence due to its dynamic and contemporary outlook. With progressing times, technology keeps on evolving and to keep pace with these changes, new technologies and innovations come into play.
These realities are shaping future times and are not restricted to only gaming consoles; it has paved its way into other industries and markets to bridge the gap between technology and humans. Almost every industry is amazed by its application and its user experience and hence adopting AR-VR technology is a must for them.
Why Brands adopt this Technology
To succeed in the market, the brands must be updated and keep up with the changes that technology brings in. Today, as technology plays a vital role in any given industry, it is imperative for brands to adopt new trends for the growth of their success. When it comes to AR-VR technology, the brands were able to notice that customers are slowly switching to digital mediums and are making use of it widely. As AR-VR is an emerging technology, brands were able to discover that this can be instilled within the marketing and sales strategies. This, in turn, helps the brands to provide their customers with an ideal experience with their convenience at fingertips.
Many times, brands integrate a demo for their customers to know the reaction and result from the product they will receive. This gives the brands a potential review and with the trial and error method, the brands can incorporate furthermore benefits according to the reviews. For the success of any AR-VR product, user adoption and user satisfaction with the product is a must. The customer needs to know what to expect and how to leverage this technology in their day-to-day lives. Building a customer-centric approach is what every brand aims for. Hence, the brands are adding this technology in their Digital Marketing tactics, as this provides a pioneering edge to their marketing efforts.
A Wider Approach and Outreach
AR and VR technology is available for almost all age groups and with time is increasing its outreach. It has entered many industries and companies around the globe and due to its contemporary properties and unique experience, the customers are widely expecting it. Be it in education for students to learn in an advanced way or integrating it in glasses for seniors and adults, AR-VR technology has been seen everywhere.
With such a large audience, it can bring more new aspects as people are learning and adopting it more extensively. Its applications are immense and with time there will be more people implementing it. Many times, people are aware of the technology but are contemplating using it, even though 90 to 95 percent of people know about it, only 70 to 75 percent of people will use it. This should not be the case, hence brands try to reach their audience and provide demo experiences, so as the users will effectively use and incorporate it. New technologies are more important and popular among the young generations and the youth is excited to use it, but catering to all age groups and meeting the requirements of a larger audience is what brands are aiming for.
The Present Reality
According to a survey- “the AR/VR industry will hit $150 billion in revenue by 2020, with AR accounting for the bulk of that at $120 billion”. These whopping numbers will give AR-VR new heights of popularity and acceptance. The global market for AR and VR Technology is distributed, it is based on various aspects like application, organization size, industry vertical, and R&D department to offer an in-depth analysis of the respective market.
In the last couple of years, a large number of startups have emerged in the AR-VR space and with proceeding times, the market will become saturated as more and more companies are establishing in this sector. As several potential industries are implementing AR-VR technologies, the top three prominent markets for AR-VR in 2020 will be entertainment, manufacturing, and healthcare. AR-VR is widely used in all industries and businesses, as it has become a part of our day-to-day life and routine with its wide-spread social media presence in filters, games, and pictures. Today, the AR-VR market has a massive gamut and every industry has the flexibility to incorporate this technology successfully.
A Step into the Future
There is an exceptional excitement about what the future holds ahead and where we go ahead from here now. The futuristic movie of this technology will bring more innovations for audiences and will bring new opportunities for the innovators, designers, and respective professionals. The market is constantly accelerating and to keep up with what’s trending and where the creative openings are, the professionals are developing software to be a step ahead in the long run and bring the future to the present time. The future of AR-VR is beyond one’s imagination, it is building a new technology landscape and foreseeing the amalgamation of Human assisted AI, Augmented Reality, Virtual Reality, and Mixed Reality.