Updated September 26, 2019: Star Trek introduced us to the Holodeck and X-Men introduced us to the Danger Room. These virtual reality rooms were designed to catapult our favorite heroes into a re-creation of reality with some sort of catch—often for escapism or training under duress.
It was a fun sci-fi future that amused viewers. But as technology continues its forward progress, these once fantastical ideas have become reality.
Retailers and real estate agents continue to find new implementation strategies for VR, AR and MR. With devices such as the Oculus Rift and HTC Vive, companies use VR to sell anything from furniture to houses. MyndVR and Rendever offer VR for seniors as a way to improve mental function. Therapists are using VR to treat a variety of disorders such as phobias, addiction, and PTSD. Other uses include pain management and even autism.
Virtual Reality has become much, much more than a fad.
Using CGI graphics and special headsets, consumers dive into different worlds. Or, they can tour a house with their real estate agent present. VR is also entering the retail world. Alibaba and Amazon are experimenting with VR as a means of enhancing the shopping experience. Ikea and even Lowe’s have been dabbling with incorporating VR into their consumer experience as well.
While the novelty may seem like the driving factor, the convenience of the VR shopping can’t be denied.
Augmented Reality relies on special technology, usually in the form of a smartphone or tablet, to let users engage with digital elements in the real world.
Pokémon GO is the most common example of AR at work. Players walk around their favorite spots and use their phone to engage with the popular creatures from the game. And though Pokémon GO has lost a bit of steam, AR doesn’t look to be slowing.
Apple’s iOS 11 introduced an AR-enabled system. And stores like Ikea and Target have incorporated the technology into their shopping experiences as well—to varying degrees of success. Using their smart device, customers can virtually arrange furniture and move it around in their home before purchasing it.
Mixed Reality marries the technology of AR and VR to let digital projections interact with real-world objects. As Medium.com points out, “An example would be if you placed a virtual object (a cup for example) onto a real-world object (a table). The cup would remain in that same position as you walk or change locations.”
Companies have incorporated MR in many of the same ways as VR and AR—primarily, in education. Microsoft is developing the HoloLens to let students explore and study their own body in a real-time, 3-dimensional experience.
Gamesindustry.biz reports that in 2019 AR and VR purchases will increase by 69%.
While individual buyers form the lion’s share of the market, the research firm IDC expects growth in other sectors:
“Consumer spending volume will determine three of the four largest AR/VR use cases in 2019: virtual reality games ($4.0 billion), video/feature viewing ($2.0 billion), and augmented reality games ($616 million). The only commercial use case to crack the top 4 in 2019 will be training ($1.8 billion), but two other commercial applications—online retail showcasing ($558 million) and industrial maintenance ($413 million)—will become firmly established. With a five-year CAGR of 119.2%, industrial maintenance spending will nearly overtake augmented reality gaming in 2022. Several other commercial use cases (lab and field, retail showcasing, anatomy diagnostics, and internal videography) are forecast to see CAGRs greater than 100% over the forecast period.”
These numbers can’t be ignored. Combined with the new uses for VR, AR, and MR being discovered every year, their impact will be far-reaching.
So, capitalize on this growing trend! Petra offers gaming headsets you can sell to your PlayStation VR customers. With more than 200 games in the PlayStation VR library, and more on the way, you can rest assured this is NOT a passing fad.
The rise of VR, AR, and MR is a trend we at Petra will continue to keep an eye on, as it looks to have a far-reaching impact from which we all can benefit.