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Extended Reality (XR) extends to the usage of Augmented Reality, Mixed Reality and Virtual Reality which are collectively known as Extended Reality or XR, a technology which made significant strides in 2019.
The XR market continues to march ahead at a rapid pace across a broad range of industries estimated to be $16.8 billion in 2019 and forecasted to reach to a humongous $160 billion by 2023. The IDC estimates that worldwide spending on AR/VR solutions will witness a commercial combined share of overall spending grow from 64.5% in 2019 to more than 80% in 2022.
As more XR professionals wish to shift their gears to other extended reality domains, these favours increasingly get tilted. Here is our pick for the trendiest XR developments that will make 2020 more exciting-
Research points to a massive reduction in the size and weight of XR wearables making them more user-friendly. In addition to that, we will also see an increase in the processing capability of the XR powered wearable devices, with a decrease in its prices. It will be not just XR but also AI (artificial intelligence) to play a bigger role using passive cameras on headsets. This means an elevated immersive experience for the user.
This technology will find its use in industries deploying XR solutions to train its employees based on the data collected by tracking the movement of human resources and machines.
As education gets more global, interactive classes are on an increase. The talent war is on a rise with increased job specialization, which demands more focussed education. Of late, the traditional classroom training sessions have been ineffective, and the need of interactive classroom sessions are increasingly been felt. Immersive technologies like virtual reality, augmented reality, and virtual interactivity have proven to increase the retention capacity, save money and provide an on-demand' experience.
Retail is increasingly becoming more personalised with the application of XR technologies. As consumers begin to merge and overlap offline to online experiences, Mixed Reality gains a greater demand. Retailers, manufacturers, marketing, and advertising platforms collaborate to given an experience to end-users helping them to understand a product online before a purchase to develop better brand loyalty. As we move on, retail will no longer focus only on selling products, but go a step higher and deliver a personalised experience.
Extended Learning will continue to gain the eyeballs of enterprises who aim to explore the technological gains even in potentially dangerous working environments, such as manufacturing, construction and energy.
Strategic collaborations are seen across cross-functional departments within the enterprise. Innovation experts assert the fact that employees who want to collaborate and learn regardless of distance, without real-world risk are increasing.
With the growth of internet, and new developments into 5G connectivity, businesses will focus a lot more on consumers specifically new entertainment experiences. The adoption of 5G, cheaper equipment's and devices will uncover newer user experiences tailed for the digital user.
The dawn of the new decade finds the application of XR in multiple domains. 2020 and beyond will see businesses and enterprises adopting AR/VR/MR outside the gaming controls. The military and medical industries have come up with bigger budgets for Extended Reality applications.
Mixed Reality has the maximum potential into the construction and real estate domains. The lower cost availability of the 360-degree cameras add to depth measurements, and point to cloud data, AI and more. Many construction majors are increasingly deploying 360-degree cameras to document, report, and communicate data in new and intelligent ways.
Public Services is one vertical where XR will find most of its innovative use. The popular use cases include, into public safety where there is an immense potential for fire-fighters to actively display XR technology to increase alertness about situational awareness in the life-threatening scenarios.
XR will find its application into, military training and deployment. The next decade will equip people with the practical ability to complete tasks and missions more smartly and tactically than ever before.
In a crux, of all the Extended Reality applications that the world has seen, mostly belongs to the gaming industry. 2020 will be different as more vivid applications of XR find their adaption into the mainstream enterprise
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