Future of AR & VR in the next 10 years!
We live in a world where Life is so unpredictable, people are so unpredictable, and technological developments are also very unpredictable.
Following the pandemic, technology has advanced throughout the world, and Indian companies have already begun to adopt various advanced technologies such as Big Data, Artificial Intelligence (AI), Augmented Reality (AR), and Virtual Reality (VR) to improve productivity and upcoming trends. Nowadays, smartphones, laptops, computers, and so on have become an essential part of our daily lives; we only use them to get news, use social media, play games, and so on.
The question now is, “Why AR and VR?”
In current scenarios, the most important directions in the current information technology field, AR and VR have been applied in various fields such as education, medical treatment, construction, military affairs, and entertainment, and technical research is improving at the same time. Augmented Reality (AR) and Virtual Reality (VR) are two technologies that use visualization to simplify complex things, and they are changing the way we look at screens by introducing new creative ideas and interactive experiences. AR is a technology that allows users to interact with their surroundings by superimposing images with enhanced sound and touch. VR is a digitally explorable 3D environment generated by a computer.
Market Overview
When we talk about the market, review studies say the global market is expected to witness robust growth, and an increase in sales of tablets, smartphones, or headsets which is projected to reach US$ 250 billion by 2028, according to Statistics. In India, AR/VR adoption has grown across business verticals, expanding from US$ 0.34 billion in 2017 to US$ 1.83 billion in 2020 at a compounded annual growth rate (CAGR) of 75%. Now even for the MNCs, AR and VR are becoming home as they have started providing software development kits (SDKs) for creating AR/VR smartphone apps, and adopting 5G technology will enhance the network and increase net speed which would help in the adoption of AR/VR. The market is growing in all different fields like health care, automotive, commercial stores, etc. However, the only factor that will affect the market growth is the high cost of equipment required for AR and VR and the lack of awareness in underdeveloped areas.
Scope in Different Sectors
To make the learning process interactive and indulge students to understand concepts through visual presentations and enhance their knowledge. At present in India, Byju’s is the only ed-tech start-up offering AR services.
Next, for customer satisfaction and better experience, the adoption of AR/VR is the future of the retail market. Retailers Lenskart offers AR-based services, which enable the user to try products while sitting at home only and decide which one is better and H&M is also coming up with VR services for customers to be in a virtual environment and check out different clothes easily.
During the pandemic, these technologies helped in establishing connections with patients and providing personalized and remote care to and in need of isolation, full guide self-treatment using AR/VR apps. And medical education will help surgeons, students understand how to treat patients and complex operations.
Adoption in healthcare will provide high-quality assistance to doctors and arouses their faster development and wider implementation.
AR and VR in the gaming industry has brought revolutionary over recent years and have that elegance to engage the gamer even manufacturers have introduced an innovation that is beyond imagination to offer an engrossing experience with the right equipment to its users such as 3d effects which provides fascinating experience, real-time interaction that binds the real and virtual together and for developers to come up with new engaging
Denouement
AR/VR proves the potential in the future, which is coming up with plans on how a user endure a product, and with the advancement 1 in technologies such as smartphones and Internet technologies will become more affordable and less costly. Many new start-up companies have come up with new and innovative ideas for the user to achieve the desired result. These technologies will replicate real-life situations and the user in many other ways. AR and VR provide scope to different sectors to develop strategies for delivering a digital experience and boosting the overall business. It is a trend that should have quickly picked up, given the stark importance it has.
