XR- Extended Reality
Extended reality refers to all integrated real-and-virtual environments and interactions between people created by computer technology and wearables. E.g. It encompasses representative forms such as augmented reality, mixed reality, and virtual reality.
Augmented Reality (AR), Virtual Reality (VR), Mixed Reality (MR), and everything in between is all referred to as XR. Although AR and VR provide a wide range of innovative experiences, XR is powered by the same underlying technologies.
XR aids in the delivery of unique experiences. Companies can provide their users with the ability to visit areas of interest without having to leave their homes by visualizing a dramatically different reality. It allows viewers to get a more realistic image of the subject matter and absorb knowledge more quickly. Employee training is one area where it is particularly useful. Those who work in high-risk environments, such as the military, healthcare, or space, can train securely in their regular classrooms. XR allows instant data access and eliminates barriers to remote data access.
Customers can try products before they buy them with XR. Rolex offers an augmented reality software that allows you to test on timepieces on your wrist, and IKEA customers can use their smartphones to arrange furniture in their homes.
XR can give hyper-realistic training tools that will help troops, healthcare professionals, pilots/astronauts, scientists, and others figure out answers to problems or learn how to respond to risky situations without putting their lives or the lives of others in jeopardy.
Employees can communicate with their home office or with professionals all around the world in a way that makes them feel as if they are in the same room.
The opportunities for engaging with potential clients and consumers via XR will have marketing experts wondering all of the possibilities for leveraging XR to their company’s benefit.
The entertainment sector will continue to find new ways to use immersive technologies as an early adopter.
The XR market is anticipated to grow to $209 billion by 2022, which is eight times its current size. Because of this enormous expansion, the realities of our life in 2030 may be beyond our comprehension.