- According to the statista reports, the retail sector could see an increase in spending on AR and VR technology. Consumer spending on reality technologies is forecast to reach $7 billion, and distribution and services spending on the technologies could reach $4.4 billion by 2020.
- Statista reports suggest that the total Augment Reality and Virtual Reality spending worldwide is forecast to reach $18.8 billion in 2020
- According to the reports, VR and AR technologies could become increasingly useful during the COVID-19 pandemic to help shoppers engage with products before purchase.
Covid-19 Outbreak boosts the AR & VR Demand
AR & VR- This induced social distancing era due to the global pandemic COVID-19 has given the emerging technologies a big boost. The adoption of emerging technology around the globe suddenly witnesses a huge surge in the market. People are stuck in their homes from the March month, which as a result, they are seeking new digital solutions for their everyday needs. Be it any sector, the unprecedented lockdown has forced people to embrace the digital workspace and go virtual with Virtual Reality App Development. And many companies have been converted from physical workplaces to virtual offices. More and more companies are realizing the potential of AR & VR technologies and leveraging their full potential to embrace this ongoing change.
Definition of AR & VR
While Augmented Reality (AR) is a computing technology that adds digital elements onto the real environment; Virtual Reality (VR) is a technology that creates a 3D environment and a complete immersion experience.
The use of AR-VR technologies helping in various industries
AR-VR is helping industries like retail, tourism, construction & architecture, healthcare, and education to continue business as normal while maintaining social distancing during COVID-19 pandemic.
1. Business Meetings
As we all know, business meetings with administrators, customers, and leaders are essential and long-established for the continuing of business and its productivity. But, right now, in this time of lockdown and social distancing situation,’ business meetings are quite impossible. It might take months and years to make a comeback and hold business meetings between and with professionals, customers, clients, and leaders. Communication with employees and clients is necessary to the success of any business. And what is the guarantee that this type of pandemic won’t happen next time? Virtual Reality based meetings are a ready-made solution to overcome this hurdle. With social distancing and lockdowns becoming the norm, companies will have to take on a virtual form. Virtual reality technology helps you to hold critical meetings virtually without visiting the workplace.
Shopping Malls, online stores, and retailing shops- have gone abandoned and are forced to shut down. And even in countries where there is no lockdown imposed like Singapore and Dubai, they have been the first to take a hit and suffer heavy losses. Online retailers can overcome this hurdle by letting the users virtually try on every piece of clothing in the store using hand gestures. Augmented Reality App Development ensures enhanced customer experience creating a more engaging encounter with the product. They create virtual 3D models into physical spaces, so customers can see virtually how products will look or function in real-time and accurate scales.
3. Education Sector
The COVID-19 epidemic is hitting every industry hard. However, schools, colleges, and institutions that have always been places for real-life, physical interaction have been among the hardest hit. As millions of students around the world are struggling to study at home, it seems quite challenging for the education sector to deal with this situation.
AR and VR allow educational institutions to create virtual rooms to ensure they do not miss valuable “classroom experience.” Some educational institutions are already creating Virtual Classrooms to give them a real-life feel of attending class and their cherished mates. Students can study and experience classroom like environment while safely sitting in the sofa of their home with the help of a VR-based virtual classroom.
4. Healthcare Sector
The healthcare sector is a perfect use case for both AR and VR in training, education, and treatment,” says Steve Dann, co-founder, and executive chairman.
Even after lockdown time, one sector that doesn’t have the luxury and liberty to stay at home is those who serve in the Healthcare – doctors, nurses, and everyone involved.
Doctors and nurses – the front row of diagnostics and treatment, are more susceptible to the threat, but with VR-based diagnoses, there is no need to be with the patient until required. With the help of VR technology, it can soon be possible for them to effectively work remotely from their homes, instead of going to hospitals to work daily and thereby reducing their levels of health risk.
The Future of VR and AR after COVID-19
In this isolation and social distancing moment, AR/VR technologies giving us an energizing connection. Whether through the empowering energy of the classroom, the powerful escapism of media, the indispensable need for education & healthcare, or the basic development of culture, VR and AR are looking for innovative avenues to better align workers, consumers, and technology innovators around the globe.
And if professionals & experts of AR & VR effectively leverage the potential, it could have long-running implications for these technologies.
While COVID-19 is offering a glimpse into the varied potential of VR and AR, the fundamental technology and vision has been growing and evolving for quite a while. As per the current circumstances, virtual experiences are providing superior comfort and freedom; engagement is more likely to grow post-covid19.
It will be quite exciting to see how innovators take AR/VR potential to the next level.