WHY AR/VR is important right now?
Any sufficiently advanced technology is indistinguishable from magic — Arthur C Clarke
Well we are here to create exactly the same.
The thrust of Robots, AI,AR/VR technologies and the nearing of 5G entry is breaking all technical limitations for a revolution to begin. Beginning from the steam power which marked the beginning of the first industrial revolution to the era of science and mass production, we finally landed in the digital revolution. With 5G entry to the market, the markets shall now aim at the technological expansion and social change which we believe will begin the 4th revolution.
This revolution will change the way we interact, work and live our lives. The pandemic has already forced people to adjust to the new normal. Disruptive technologies are at the forefront of this transition. One such technology which has the potential to deliver is AR and VR.
Why do we feel this is important right now? How does this mark the beginning of big change?
Firstly, Neither VR nor AR are new technologies, but there are two overarching trends that will ensure their use grows considerably — the business benefits they can deliver are now richer and more attractive than ever, and technological advances are guaranteeing an improved, more compelling experience for the end user. 5G and AI supported by powerful hardware systems are definitely at the beginning of explosion.
Secondly, Let’s take a look at the biggies who have multi-fold their investments and expansions in the area of AR/VR. The biggies are already in the game much ahead of others.
Oculus VR by Facebook (California, USA)
HTC (North Conway, USA)
Samsung (Suwon, Korea)
Microsoft (Washington, USA)
Unity (San Francisco, USA)
VironIT (San Francisco, USA)
Alphabet/Google (California, USA)
Next/Now (Chicago, USA)
CemtrexLabs (New York, USA)
AMD (Santa clara, USA)
Nvidia (Santa clara USA)
Thirdly, the economic impact. AR/VR does 2 things – create value and reduce costs. Implications of these technologies are going beyond gaming. the reach of AR/VR to various sectors like retail, construction, manufacturing, Education, Health care, Pharma, marketing and Advertising are already breaking complex areas of operations in the respective fields. With an estimated target of $450 billion in next 10 years, and 2crore job creation potential, AR/VR along with AI can alone take the digital revolution to the next level.
We at Rayvector want to be in the middle of this. Our consultation will deliver and open up opportunities at every stage in the lifecycle of service or product. Talk to us to understand and realize the potential of AR/VR in your company / Industry.