Augmented reality (AR) and virtual reality (VR), two revolutionary technologies, have been creating ripples since they were first introduced. Although their popularity has been increasing steadily, the latest advancements indicate that the future holds even more opportunities for AR and VR.
As indicated by research from International Data Corporation (IDC), immersive technologies are set to grow from a $7.2 billion industry in 2023 to an astounding $72.8 billion by 2024. This comes as no surprise when considering the significant implications of augmented reality (AR) and virtual reality (VR). These innovative technologies have a significant influence on our daily lives, from improving engagement with businesses and products to whisking us away to exciting and exotic locations.
In this era of rapid development, Augmented Reality (AR) and Virtual Reality (VR) are essential technologies that are expected to revolutionize various industries. Therefore, it is crucial to explore the future implications of these cutting-edge technologies in 2023 and beyond, as well as examine their practical uses.
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Navigating Indoor Spaces
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Thanks to newly emerged platforms such as Google’s ARCore and Apple’s ARKit, individuals now have access to indoor navigation assistance in vast spaces like airports, retail malls, museums, hospitals, universities, and more. This technology empowers us to receive directions similar to Google Maps to travel through indoor contexts from one point to the other smoothly.
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These applications utilize the current location of your mobile device to offer comprehensive, step-by-step visual guidance towards your destination.
MarketDigit’s study on the indoor positioning and navigation market in 2023 offers insights into the performance of major enterprises such as Mist Systems, Google, Microsoft, Apple, Centrak, and others. The report anticipates a significant Compounded Annual Growth Rate (CAGR) from 2023 to 2023 for the indoor positioning and navigation industry.
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Collaborate and Accomplish More
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Since the onset of the pandemic, several resources have been created to support remote work. These include tools like Zoom, Slack, and Google Docs. However, Augmented Reality (AR) and Virtual Reality (VR) offer an unconventional and innovative approach for those searching for an alternative experience.
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Consider the possibility of providing a more immersive experience than a typical PowerPoint presentation. Augmented Reality (AR) and AR headsets have the ability to create a virtual reality where you and your team can appear to be in the same physical location. Moreover, this technology allows your audience to experience and visualize what you are discussing firsthand.
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Arthur Digital’s platform provides a virtual world amplified by virtual reality (VR), generating simultaneous, real-time communication. It creates a digital space for collaboration, including a virtual coffee shop or workplace, which is especially advantageous for those who are still working remotely amid the pandemic.
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Virtual Events and Celebrations
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The COVID-19 pandemic caused many scheduled events for 2021 and 2022 to be accelerated. Nonetheless, there is still untapped potential in Zoom and WebEx that organizations have yet to exploit. Virtual Reality technology could provide the next level of advancement for virtual occasions.
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The NBA has launched its live games schedule on the Oculus Quest platform, employing virtual reality technology, providing Knicks, Heat, and other team supporters with an immersive experience of the match without the need to leave the solace of their premises.
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The digital world offers great opportunities for various kinds of events. Virtual reality is a beneficial tool to simulate social events, including celebrations, career fairs, and conferences.
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Enhancing Customer Interaction
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The employment of augmented and virtual reality (AR/VR) technologies has revolutionized the marketing industry. These tools have allowed customers to try out products and services before buying, particularly during the ongoing pandemic when individuals are limited to their homes or unable to go outside.
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The real estate industry has been constantly evolving in recent times. In the past, potential tenants and buyers were often discouraged by the need for in-person interaction with estate agents. However, some estate agents now employ virtual reality to provide customers with virtual property tours, eliminating the need for travel or in-person visits.
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There are numerous companies that have designed comparable systems, enabling customers to virtually try on clothes, browse product catalogues, and much more.
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Improving Help Desk and Customer Service
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Providing appropriate guidance for solving a client’s or employee’s problem can be difficult for customer service agents and IT specialists who are not physically present. Nevertheless, these experts can now demonstrate how to resolve issues promptly and remotely, rather than just discussing the issue or displaying static images that may not be fully comprehensive.
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With the support of augmented reality, experts can offer a better level of service to their clients and employees. To help a customer solve a product-related issue, a member of the support team can use overlay images or text on a photograph of the item to show the exact steps to take for rectifying the problem.
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Remote Learning and Instruction
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Using Augmented Reality (AR) for new staff training has been a common practice for some time. As trailblazers in the industry such as Samsung, Oculus, Google, and others continue to create advanced AR headsets and glasses, the opportunity to instruct and educate employees efficiently and effectively is growing extensively.
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Augmented Reality (AR) headsets or glasses have proven particularly useful in high-risk industries such as manufacturing, where workers must gain hands-on experience in using sophisticated machinery. This virtual training approach prevents exposing employees to potentially dangerous situations and reduces costs. After mastering the basics, they can then progress to using the actual equipment.
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PwC’s 2023 research discovered that using virtual reality (VR) for training resulted in a 275% improvement in trainees’ self-confidence in implementing newly-acquired skills. It is evident that VR has numerous useful applications based on this finding.
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5G Compatibility
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The advent of 5G technology has transformed numerous aspects of our lives. Although there is still progress to be made before complete 5G deployment can be achieved, the technology has already been embraced in several locations globally. It offers unparalleled speed, ultra-low latency, and much more. What implications does this have for virtual and augmented reality?
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5G technology has the capability to significantly boost the effectiveness of the AR and VR process. By minimizing latency and offering a more dependable connection, it allows for a seamless, lag-free visual experience, minimizing the risk of motion sickness when using AR and VR.
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Virtual and augmented reality are molding the way individuals from every walk of life engage with the world. These revolutionary technologies have had a significant impact on all aspects of life, giving people more power in digitally-savvy and distributed environments.
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There are anticipated significant advancements in augmented and virtual reality for this year. These trailblazing technologies will have far-reaching implications, and we can only speculate on their potential impact. The forthcoming period holds the key to uncovering the answers to these key questions.
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