The evolution of AR/VR technologies has transformed our real and virtual world. Of course, they are a “really big deal” – as stated by Mark Zuckerberg, CEO of Facebook (Meta).
Look out for any industry and you’ll find the latest AR/VR advancement incorporated. It further results in changing the overall dynamics enhancing the innovative applications and user experience.
According to a recent estimate by Goldman Sachs, AR and VR are expected to grow into a $95 billion market by 2025.
What does that indicate about your business? – The AR/VR market is growing exponentially and will continue to expand in the future. That’s why you need to align your business with the latest AR/VR trends with the help of an AR/VR app development company to stay ahead of the competition.
AR/VR Emerging Technologies to Watch
Following, we’ve discussed emerging AR/VR technologies that will help your business. Let’s learn:
1. Mixed Reality (MR): Blend of Real and Virtual World
Mixed reality is a hybrid combination of the real and virtual worlds. It’s evolved as a game-changer as it is based on three factors, including interactivity, real-time objects, and synchronization.
According to statistics, the global extended reality (XR) market that includes augmented reality (AR), virtual reality (VR), and mixed reality (MR) reached 29.26 billion U.S. dollars in 2022, rising to over 100 billion U.S. dollars by 2026.
The MR is based on technological advancements in graphical processing, input systems, computer vision, display technologies, and cloud computing.
MR has impacted several sectors, including healthcare, education, gaming, and more. Undoubtedly, MR has upgraded the existing technologies in a way that enhanced the user experience, interaction level, and collaboration with both the virtual and real world.
2. Extended Reality (XR): Integration of AR, VR, MR, and Beyond
Extended reality is a superset of AR, VR, MR, and beyond. Integration of these technologies offers a seamless XR experience. For example, a 360-degree view of sale property, Pokemon Go games, 3D characters, and more.
According to the statistics, the XR market is set to hit a value of $1,005.9 billion by 2030
XR offers highly interactive and immersive experiences in the digital environment. Various businesses are adopting and integrating the XR into their systems and processes to develop highly engaging simulations, collaborative experiences, interactive training, and more.
To experience XR technology, one needs to have an MR headset and high processing power. A perfect example of an MR headset is Microsoft HoloLens.
3. 5G Capabilities with AR/VR
It is expected to rise to 3 billion 5G subscribers by 2025 (or around 38% of the world’s projected 2025 population), according to the stats.
With the rising application of AR/VR in our world. Definitely, we need fast, highly responsive, and reliable network connectivity.
For that, we require 5G capabilities that provide low latency and larger bandwidth. With the help of 5G, you can have an amazing user experience with fast loading of pictures, videos, animations, and overall performance.
Additionally, it even enhances the game experience. By utilizing 5G, game developers would be able to create games with better graphics and quicker command responses without experiencing network latency.
Due to the fact that they are wholly owned, devoted to, and operated on the premises of the private party, private 5G networks have advantages in terms of latency, capacity, security, and other aspects. In particular, a private network with higher bandwidth is required if applications require the rendering of 3D models.
4. WebAR and WebVR Emergence
Let’s first break down the word – WebAR – Web (site) and AR (Augmented Reality). On the other hand, WebAR (site) and Virtual Reality (VR). In simple words, you can experience the view and experience the virtual world on a web browser. Even a standard smartphone or tablet would work for this.
On the other side, WebAR and WebVR are recent innovations that aim to make AR and VR experiences more engaging and interactive. Users no longer need to download additional software in order to view augmented and virtual content thanks to the use of WebAR and WebVR technologies.
This approach could help AR and VR experiences reach a larger audience and improve their comfort and inclusivity.
5. Redefining the Shopping Experience
The advent of AR and VR has caused a paradigm change in e-commerce. Online shopping is evolving from a static to a dynamic and interactive experience.
Brands are actively implementing AR technology to improve the online shopping experience. Customers may view things in their surroundings before making a purchase with the help of AR technology, which lowers ambiguity and boosts confidence in purchasing decisions.
For instance, Dior commonly offers augmented reality (AR) shoe experiences that let customers try on shoes visually before making a purchase. In order to create this initiative, Dior and Snapchat worked together for the first time in 2020. In addition, customers can customize bracelets and virtually try them on using a 3D configurator on the FRED Jewelry website.
In virtual shopping environments that mimic the experience of being in an actual store, users can browse shelves, try on clothes, and closely inspect items.
Long Way to Go
AR/VR technologies will advance and innovate throughout the coming years, impacting a number of different industries. It will thus boost output, streamline processes, and ultimately save time and money. Therefore, it is highly crucial to contact the AR/VR App development company to help with your initiatives that aid in your success.