Enterprises Driven By Data To Reap Rich Dividends From AR/VR

Augmented Reality (AR) and Virtual Reality (VR) technologies traditionally synonymous with gaming and specialized training are increasingly gaining ground in enterprises.

- Parag Amalnerkar

Having reached a tipping point where the quality of experience and performance converge with affordability, more and more enterprises are integrating AR/VR into their workflows to come up with mission-critical applications.

Going forward, the AR/VR market looks promising. Propelled by high chip speeds, technology improvements, and integration with 5G, Goldman Sachs predicts the combined AR/VR market to touch $80 billion by 2025. The German statistics portal, Statista, is even more optimistic, pegging the market at $209 billion by 2022.

While the most evident use cases for AR/VR seem to be in healthcare, entertainment, retail, real estate, education, defense and engineering, enterprise across verticals should be leveraging the technology across their entire customer engagement lifecycle. The advantages of doing so range from efficacious marketing campaigns, effective brand positioning, fewer product returns, and even an increase in the top line. Organizations deploying AR/VR have proven significant business benefits.

Advantage AR/VR

DreamWorks, the American entertainment company, is fast expanding its digital business. Going beyond traditional animated films and TV series, it is developing content for AR/VR, live entertainment, and theme parks.

The production house owes the highly immersive and detailed graphics seen in popular movies (Shrek, Kung Fu Panda, How to Train Your Dragon, Trolls) it creates to AR/VR.