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Throughout recent years, technology has changed at a rapid pace, with several technologies coming onto the market. While some of these have come and gone without making a great deal of an impression, there are a few that remain successful.
One of the most successful technology in recent times that has been widely adopted in the various industry is augmented reality (AR) and virtual reality (VR). Many technology enthusiasts, along with market researchers, believe that the current growth of AR and VR is just the beginning, and there is still a lot of room for expansion.
According to Valuates Report statistics, in 2017, the global augmented reality and virtual reality market size stood at USD 11.35 Billion. The industry is forecasted to reach USD 571.42 Billion by 2025, rising at a CAGR of 63.3 per cent between 2018 and 2025.
Today, most people's first VR and AR experiences are likely to be in gaming and entertainment. This is likely to change because research shows that the development of enterprise XR solutions is beyond consumer solutions.
VR can be used to simulate work in dangerous conditions or with heavy, easily damaged equipment and devices, without any of the risks. AR, on the other hand, can be used to communicate essential information directly to the user about whatever happens to be in front of them?reducing the time wasted by engineers, technicians, or maintenance personnel listening to manuals and searching for information online while they are operating.
This article is dedicated to some of the major trends that are expected to impact the AR & VR market.
Top 7 Trends expected to Impact AR & VR market:
IMPACT OF AI
Developers of AR and VR have started incorporating machine learning and artificial intelligence (AI) in many of their applications. This can be highlighted with basic functions such as the filter function of Instagram, although it has begun to be implemented across various industries in a variety of larger capacities.
This led to what is known as computer vision, which allows devices to see and understand everything within the range of a camera. Over the past few years, this has been somewhat basic, though these are expected to become increasingly sophisticated in the coming years.
This can be seen with Google's machine-learning-enabled microscope, which is increasingly capable of identifying tissue-sampled cancer cells. This, coupled with VR and AR, could increasingly make medical technology more accurate and enable more complex treatment and diagnostic tools.
This is also to be seen in a variety of other industries, such as video games, where gamers face increasingly smarter opponents driven by AI.
IMPACT ON TEACHING INDUSTRY
Both technologies have obvious advantages for teaching and training, with this being seen throughout schools and courses for professional development. For instance, people studying construction, or any hazardous or complex areas can train without any of the risks typically associated with it.
By using VR, budding professionals in these industries will be able to train in a simulated environment that provides a significant degree of accuracy while avoiding the risks associated with making a mistake.
AR can also be an advantage, as employees will be able to practice real-time goals and tasks, which could improve their skills and overall productivity. These are areas which in the future look to further benefit from the technologies.
NAVIGATION INDUSTRY
Indoor navigation is one of the most obvious use cases for AR technologies, and 2020 is expected to be the year the average consumer gets the first real taste of their potential. People are already leaning heavily on map services from both Google and Apple to get around outside, but indoor navigation is the use case that is blowing away the public.
Indoor navigation applications based on the ARKit and ARCore can provide directions at airports, malls, hospital and office campuses. Gatwick Airport has already deployed its own smartphone solution, based on a user's flight number, which provides routes to terminals and gates.
CONSUMER ELECTRONICS
While this is a trend that has been around for much of the history of AR and VR, it looks for a drastic improvement over the coming years. This is because both have been relatively niche areas for several years, with many developers failing to find a commercially successful app or hardware.
Change with recent improvements in both hardware and software has created a lot of room for growth. As a result, both technologies are beginning to become much more accessible for consumer entertainment, which means that in the coming months, they should start seeing much more success.
AUTOMOTIVE INDUSTRY
Although fully autonomous cars may still be years away, this did not mean that manufacturers could not take advantage of a variety of new technologies. One of these was augmented reality, with some firms starting to implement in for a variety of reasons.
Much of this has been focused on safety, with AI and machine learning technology to point out any hazards that may be on the road. Alongside this, there could be any historic landmarks drivers might want to know about.
This is achieved by using cameras and a dashboard-mounted monitor that makes it possible to use additional graphics without causing drivers too much attention.
CONTENT WITH LONGEVITY
When both the AR and VR technology were new, many developers jumped to take advantage of it, creating a variety of apps and gimmicks that didn't last long. Though these may have been popular, it was only for a drastically short period of time.
That has changed in the years since, with advertising now targeted to holding users back. This longevity is something which is expected to continue to impact the niche, with developers of apps and video games seeking to attract and maintain large markets for VR and AR.
Consumers have started looking for ever more immersive technologies over the past few years, especially with both VR and AR. Thanks to improvements in both hardware and software, this is something that most developers have started to capitalise on. This has meant that more and more of these businesses have started to focus on creating 3D environments and experiences rather than their traditional 2D counterparts.
