NOV 20, 2023
How VR and AR technologies will help in developing Indian businesses
JUL 05, 2023
Technology is helping businesses in several ways. Virtual reality and augmented reality are new emerging technologies that are slowly but surely changing how we interact with our environment. The utility has reached businesses of all kinds and sizes.
According to Statista, the augmented, virtual, and mixed reality market is expected to reach $30.7 billion in 2021 and close to $300 billion by 2024.
Virtual and augmented realities help develop new products and services by making them more appealing to customers. It helps improve customer and employee interaction, enhancing the quality-of-service experience and creating a better connection between people and things.
Augmented and virtual realities are increasingly gaining importance in the construction, real estate, and manufacturing industries. They have led to a number of benefits, including the ability to reduce travel costs and save time and money. There are also many training programs available designed for businesses to learn how to use these technologies successfully.
Here are four ways virtual and augmented reality will help Indian businesses make their mark on a global stage:
Training and Education: Virtual reality (VR) and augmented reality (AR) can be used to train employees and educate customers. For example, VR can simulate real work environments, allowing employees to practice and learn new skills in a safe and controlled setting. AR can overlay information and instructions onto the real world, making it easier for employees and customers to learn and understand new products and services.
Product Visualization and Design: AR can help businesses visualize and design products. For example, it can be used to overlay virtual prototypes onto real-world environments, allowing designers to understand better how the finished product will look and function. This can speed up the design process and improve the quality of the final product.
Marketing and Advertising: VR and AR can create immersive and engaging marketing and advertising experiences. For example, VR can create virtual showrooms and product demonstrations. In contrast, AR can create interactive advertisements that overlay information and animations onto the real world.
E-commerce and Retail: VR and AR can enhance the e-commerce and retail experience. For example, VR can create virtual showrooms and product demonstrations. In contrast, AR can create interactive advertisements that overlay information and animations onto the real world. This can help to increase customer engagement and drive sales.
It is worth to note that the above are some examples of how VR/AR can benefit Indian businesses. Like any new technology, success in implementation and returns are primarily dependent on factors such as the business industry, target audience, existing infrastructure, and the business’s ability to adapt and make the most of the technology.
By Apurv Modi, The author is the MD and co-founder of Tech Almond Solutions.