By Kshitij Depda Published on : Dec 15, 2022
Extended reality (XR) is a catchall term for immersive technologies; It rolls together similar acronyms like Augmented Reality (AR), Virtual Reality (VR), and Mixed Reality (MR), plus those that are yet to be created.
For instance, XR in the sales field increases user engagement and successfully closes the deal with them. With the XR solutions the world is offering, salespeople can drastically improve their sales, giving their toolset a much-needed breakthrough. Some companies also employ XR to give their consumers a sneak peek at the products/service before they buy them.
65% of companies concentrate on industrial applications, while 37% are working on AR and VR and are primarily focused on consumer markets. Ultimately, the advantages of effectively implementing XR solutions are precise and verifiable in the end. 93% of business users claimed that XR had a favorable effect on their industry. Regarding the use of AR and MR in the business world, 88.4% agreed. (Source: VR Intelligence)
In the contemporary business world, XR is building a name for itself. B2B is constantly adopting marketing styles from B2C - from extending virtual reality games to using technology to onboarding fresh talent. Businesses are already reaping the advantages of XR leveraging the powerful tech where customers engage in a system that has an intact user experience. According to XR-insight rapport, XR is fast and firmly establishing itself in supporting enterprises, but consumers still need to notice. (Source: XR-insight rapport)
It's unsaid that business needs to innovate right now-Companies make sure they are future-proof by investing in these smart technologies and allocating the budget for the trend. The sector's problems can largely be addressed by using extended reality. For instance, Long gone are the days when marketing departments were just required to plan events and create brochures; nowadays, there are many new ways to interact with brands, which can increase brand loyalty. Now, for us content marketers, the potential of XR technology for storytelling is of particular interest.
In the future, extended reality will play an essential role- in human-machine interaction. Future XR applications will be much more accessible and reasonably priced. The technology will be applied in additional industries as XR develops and its range of applications increases.
Video game news site Gamasutra reported that in APAC overall, spending on AR and VR is expected to reach US$31.2 billion by 2023. (Source: Gamasutra)
This anticipated rise is due to a number of variables. First, XR is increasingly being used in training courses for businesses and educational institutions. In the coming future, it is anticipated that the worldwide XR market will expand significantly. The United States, Asia, particularly Japan and China, as well as Europe, Germany, and the United Kingdom, are projected to lead the way in XR innovation. The importance of extended reality will increase over the course of an organization's whole business cycle.
Creating virtual reality experiences of working, playing, and socializing on one platform will continue to grow in 2023 and beyond. Virtual Reality, Augmented Reality, and Mixed Reality is all types of technology that replicate reality. Along the metaverse-powered surroundings, the fields of augmented reality (AR) and virtual reality (VR) will advance concurrently.
In 2023, we will have more immersive meeting spaces to collaborate with our avatars, brainstorm, and create together. The following are some Extended Reality applications that businesses can use to successfully scale their operations:
· XR wearables: To connect external software and control built-in AI sensors, LEDs, and 3D lenses, in addition to having high-resolution graphics
· Blockchain technology: To serve as a digital passport for the metaverse, securing identity and money transfer for effective closures
· A combination of cloud computing and 5G: To make it possible to render data, images, documents, and other collaterals from different locations with high speed and accuracy
· Security technology: To conceal critical details like bank account information, card numbers, or accounting software login credentials to stop virtual data heists
Today, AR for B2B helps in automated manufacturing processes, cuts production costs, strengthens relationships with B2B clients, helps present products/services, raises issues, and many more. Companies are already plowing VR in their marketing and will soon reap its yield to become industry leaders. Now it’s time for your business to consider getting the most out of XR technologies before the majority follows suit.
Extended reality (XR) is a catchall term for immersive technologies; It rolls together similar acronyms like Augmented Reality (AR), Virtual Reality (VR), and Mixed Reality (MR), plus those that are yet to be created.
For instance, XR in the sales field increases user engagement and successfully closes the deal with them. With the XR solutions the world is offering, salespeople can drastically improve their sales, giving their toolset a much-needed breakthrough. Some companies also employ XR to give their consumers a sneak peek at the products/service before they buy them.
65% of companies concentrate on industrial applications, while 37% are working on AR and VR and are primarily focused on consumer markets. Ultimately, the advantages of effectively implementing XR solutions are precise and verifiable in the end. 93% of business users claimed that XR had a favorable effect on their industry. Regarding the use of AR and MR in the business world, 88.4% agreed. (Source: VR Intelligence)
In the contemporary business world, XR is building a name for itself. B2B is constantly adopting marketing styles from B2C - from extending virtual reality games to using technology to onboarding fresh talent. Businesses are already reaping the advantages of XR leveraging the powerful tech where customers engage in a system that has an intact user experience. According to XR-insight rapport, XR is fast and firmly establishing itself in supporting enterprises, but consumers still need to notice. (Source: XR-insight rapport)
It's unsaid that business needs to innovate right now-Companies make sure they are future-proof by investing in these smart technologies and allocating the budget for the trend. The sector's problems can largely be addressed by using extended reality. For instance, Long gone are the days when marketing departments were just required to plan events and create brochures; nowadays, there are many new ways to interact with brands, which can increase brand loyalty. Now, for us content marketers, the potential of XR technology for storytelling is of particular interest.
In the future, extended reality will play an essential role- in human-machine interaction. Future XR applications will be much more accessible and reasonably priced. The technology will be applied in additional industries as XR develops and its range of applications increases.
Video game news site Gamasutra reported that in APAC overall, spending on AR and VR is expected to reach US$31.2 billion by 2023. (Source: Gamasutra)
This anticipated rise is due to a number of variables. First, XR is increasingly being used in training courses for businesses and educational institutions. In the coming future, it is anticipated that the worldwide XR market will expand significantly. The United States, Asia, particularly Japan and China, as well as Europe, Germany, and the United Kingdom, are projected to lead the way in XR innovation. The importance of extended reality will increase over the course of an organization's whole business cycle.
Creating virtual reality experiences of working, playing, and socializing on one platform will continue to grow in 2023 and beyond. Virtual Reality, Augmented Reality, and Mixed Reality is all types of technology that replicate reality. Along the metaverse-powered surroundings, the fields of augmented reality (AR) and virtual reality (VR) will advance concurrently.
In 2023, we will have more immersive meeting spaces to collaborate with our avatars, brainstorm, and create together. The following are some Extended Reality applications that businesses can use to successfully scale their operations:
· XR wearables: To connect external software and control built-in AI sensors, LEDs, and 3D lenses, in addition to having high-resolution graphics
· Blockchain technology: To serve as a digital passport for the metaverse, securing identity and money transfer for effective closures
· A combination of cloud computing and 5G: To make it possible to render data, images, documents, and other collaterals from different locations with high speed and accuracy
· Security technology: To conceal critical details like bank account information, card numbers, or accounting software login credentials to stop virtual data heists
Today, AR for B2B helps in automated manufacturing processes, cuts production costs, strengthens relationships with B2B clients, helps present products/services, raises issues, and many more. Companies are already plowing VR in their marketing and will soon reap its yield to become industry leaders. Now it’s time for your business to consider getting the most out of XR technologies before the majority follows suit.
