Growing Market for Virtual Reality (VR) and Augmented Reality (AR) Solutions

“In my day, we didn't have virtual reality. If a one-eyed razorback barbarian warrior was chasing you with an ax, you just had to hope you could outrun him.” – Anonymous

Virtual reality (VR) is a multi-disciplinary field of computing technology, that emerged from research on three-dimensional interactive graphics and vehicle simulations in the 1960's and 1970's. Back then, VR helmets were too heavy and cumbersome, computers were too slow, and touch/feedback systems were still in their infancy. However, technology has changed dramatically over the past 40 years. Computers are now thousands of times faster and today we are seeing the emergence of augmented reality (AR) and virtual reality (VR) systems that deliver a greater sense of feedback and immersion to their users. The development and use of AR and VR systems have really started to take off over the past couple of years.

Definitions Augmented Reality - A live direct or indirect view of a physical, real-world environment whose elements are augmented by computer-generated technology and sensory input devices. See https://en.wikipedia.org/wiki/Augmented_reality Virtual Reality (VR) - A three dimensional (3-D) technology which allows a user to navigate around and interact with a computer-simulated environment. See http://en.wikipedia.org/wiki/Virtual_reality

 

Augmented & Virtual Reality in Healthcare

Healthcare is one of the biggest adopters of augmented and virtual reality which encompasses surgery simulation, robotic surgery, skills training, mental health, phobia treatments, therapy, and much more. One of the advantages of this technology is that it allows healthcare professionals to learn new skills as well as refreshing existing ones in a safe environment. One example, first-year medical students at Case Western Reserve University have been utilizing HoloAnatomy and HoloLens to study the human body from their homes during the coronavirus pandemic. According to an IndustryARC report, AR and VR reality in healthcare is predicted to generate more than $3 billion globally by 2021. Read 10 Specific Ways Virtual Reality (VR) is Revolutionizing Medicine and Healthcare.

 

Augmented & Virtual Reality in Business

Over the next five to ten years, the use of augmented reality (AR) and virtual reality (VR) in business is going to be huge. A recent Goldman Sachs report estimates the combined AR and VR markets could grow into an $80 billion industry by 2025. All the big technology companies are now moving quickly into this new space, e.g. Google, Facebook, Microsoft. Both AR and VR are taking root with a growing number of companies that are using the technology to help customers understand a product, visualize an idea or project, provide complex immersive training, and to explore homes, tourist destinations, and even outer space. For many more examples, read Virtual Reality Will Change Business as We Know It

Augmented & Virtual Reality in Education & Training

The education and training industry appears to be poised to finally take advantage of the latest innovations provided by AR and VR technologies. The military and healthcare industries have already been using this type of for some time in training pilots and surgeons. This new technology now appears to be moving into many other industries for use in a wide range of professional development training programs. It is also slowly becoming a proven medium to help students at all levels to learn faster, be more motivated, and expand the boundaries of what is possible. For more detail, read Real Applications of Virtual Reality in Education.

Selected Links to AR &VR Resources

AR/VR Organizations AugmentedReality.Org Augmented Reality for Enterprise Aliance EuroVR Association Virtual Reality Society VR/AR Association * List of AR & VR Conferences

Open Source AR/VR ARToolKit Blender mixARE OpenSimulator Wikitude * List of AR Software

Are you or your organization using Augmented Reality (AR) or Virtual Reality (VR) solutions for education and training - or in your daily business operations? Tell us about your experience with this new technology.