Posted on 19th Jul 2019
AR and VR technologies are going to be the next big thing in technological innovation. The amazing concept of Augmented Reality and Virtual Reality have been making big changes in various fields like gaming, pornography and both of these amazing technological marvels have been welcomed by people with open hands. Now, the experts from the AR/VR domain are saying that both AR and VR technologies are soon going to combine into one unique spatial computing solution. But Digi-Capital has predicted that mobile AR, smart glasses, and VR are going to be separated in the medium term from a commercial point of view.
The amazing AR is going to reach 2.5 billion in terms of installed base and $70-75 billion in revenue while on the other hand; the VR is going to reach $30 million installed base and $10 billion to $15 billion by 2023. Some of the main reasons why AR and VR are going to divide into two different branches are installed bases, form factors, prices, use cases, business models and unit economics. One of the biggest challenged for the AR is critical use cases which deal with transforming the user experience in a way that they care about and you should know that it could not be done in any other way. During the initial phase, there were few user cases like Pokemon Go and Google Maps but more of these user critical cases are needed.
When it comes to VR, then you should know that there were 20 million mobile and console VR installed base during 2018. The current demand an upgraded version of the present VR during 2020/2021 so that the users can get better performance and better content at low prices. You will be surprised to know a major portion of VR industry profit comes from the hardware sales and games. The enterprise software service is also a growing sector under this banner.
According to a study conducted by Magid, it has been found that both AR and VR are going to play a very important role in enhancing brand perception. During this enhancement, the VR content will play a major role in driving emotion while the AR content will make sense for daily integration. From the same study by Magid, it was also found that consumers are connecting words like curious, fantasy, exciting and escape with the VR solutions while with the AR solution, people were able to related words like interactive, practical, analytical and lifelike.
This study conducted by Magid included a series of focus group In Los Angeles and New York along with tech enthusiast who already had experienced VR technology. Along with the above-mentioned results, it was also found that both AR and VR are going to have a positive impact on the perception of the brand but only if it enhances the user experience in a purposeful way.
The implementation of both AR and VR technologies have widened a lot since their introduction. For example, the VR technology was first introduced for enhancing the user experience of gamers by giving them a computer-generated world which offers near to realistic feeling. But soon after the success of VR in the gaming sector, it was introduced in the pornography industry as well during 2016. Since then, the VR Porn Video industry has been growing dramatically and has now become one of the fastest-growing industries. Facebook also realized that the future of VR and AR is going to be very bright and they are going to be the next big thing in the technological field and that’s why they soon acquired one of the most famous VR headset companies Oculus Rift. In a similar way, the AR technology has also widened its implementation since its introduction.
So, before becoming a single technology, both AR and VR technology will separate their paths but all this is going to enhance the user experience and even after converging (which will take a lot of time) the new computing solution will be nothing less than a technological marvel.