Virtual Reality - Industrial Impact So Far…
The virtual reality market is expected to grow at an exponential rate with the introduction of cost-effect VR headsets. Especially the cost reduction of Meta Quest 2 has played a significant role in implementing VR-based training activities in corporate and VR-based healthcare activities for senior citizens and so much more.
In this blog let’s have a quick overview of the industries VR is having an impact right now with the potential to grow in the future.
Automotive Industry
The automotive industry is one of the sectors where virtual reality (VR) has made a significant impact. VR technology allows engineers and designers to experiment with the look and build of a vehicle before commissioning expensive prototypes. Companies such as Honda, BMW, and Jaguar Land Rover have been using VR for years to hold design and engineering reviews. The use of VR in this industry is saving millions in man-hours and material costs by reducing the number of prototypes built per vehicle line and opening up the design process to a global workforce.
Healthcare
In the healthcare sector, VR is making a significant impact. The FDA approved the prescription-use EaseVRx for the treatment of pain reduction in adults in November 2021. The system uses cognitive behavioural therapy and other behavioural principles such as deep relaxation, attention-shifting, and interoceptive awareness to aid in the reduction of chronic pain. VR has even been used as pain relief for burn injuries. Healthcare professionals can use VR to better prepare themselves for being in the operating theatre — whether as a junior doctor explaining diagnoses and treatment plans, or an orthopaedic surgeon performing surgery.
Retail
The retail industry is set to undergo drastic changes with the advent of VR. With VR retail experiences and body-scanning technology, customers will be able to try on clothes in the virtual world to see what they’d look like in person. This not only provides a time-effective experience for shoppers, but it’s also more sustainable because customers will know before they order whether the item fits their shape and size, reducing the environmental cost of production and shipping fast fashion.
Tourism
The global pandemic and lockdowns accelerated a lot of developments in virtual travel. With VR, you can experience a guided tour of Barcelona or Budapest from your home in California or Singapore. You can even take a Harry Potter tour of Edinburgh from anywhere in the world! In the post-Covid era, the developments in VR for tourism enable you to try a holiday before you buy it.
Real Estate
In the real estate industry, VR is being used to allow potential buyers to tour properties from the comfort of their own homes, eliminating the need for physical estate agent appointments. Companies like Matterport are leading the way for people to explore houses online and get a ‘feel’ for the space, saving time looking around places that might not meet their expectations.
Architecture
VR is gradually changing the way that architects design and experiment with their work. It allows architects and clients to visualize not just what a building or space will look like but also how it will feel. For example, if someone was looking to add an extension to their property, they can experience the space and what it will look like before it’s physically built and then make real-time changes. This saves the customer and architect time and money, as well as increasing satisfaction on completion of the project.
Interior Design
The interior design industry is also benefiting from VR. Companies like Flipspaces are providing users with 3D visualizations of the interior of their home or workspace — from lighting to ventilation, colour schemes, and products themselves. Platforms like this don’t just help designers and homeowners visualize the look and feel of a property- they also have the potential to drive direct sales for furniture companies like Ikea.
Gambling
In the gambling industry, VR is being used to create immersive experiences for players. For instance, you can play multiplayer poker in VR with Pokerstars VR. It’s just like being in a real casino where you can talk to other players and read their body language. You can play poker, blackjack, roulette, and slots against real opponents and be in with the chance of winning money prizes.
Learning and Development
The training industry has started to embrace the opportunities VR learning brings. With VR, people can learn through experience in a risk-free space; it’s consistent, affordable, and scalable. VirtualSpeech, for example, provides VR training for soft skills such as public speaking, active listening, and sales. They blend e-learning with practice in VR and online simulations, enabling learners to build their confidence and skills in VR environments.
Recruitment
In the recruitment sector, companies like Lloyds Banking Group are using VR exercises to assess graduates for intake. In the future, VR could be used to assess key skills required for a job such as decision-making, for job interviews, and could even replace assessment days altogether by bringing candidates together in the metaverse.
Entertainment
The entertainment industry is leveraging VR to heighten experiences and increase the emotional connection with characters or films. For instance, Disney Movies VR takes the user to red-carpet events and interviews with the cast. VR could also revolutionize the way that media content is made, as companies like Flipside XR have shown. Flipside provides real-time animation and motion capture, enabling creators to build interactive animated shows or live-stream animated performances via VR or more traditional channels like YouTube, Twitch, or Facebook Live.
Education
VR is poised to revolutionize education by enabling students to learn in an immersive, experiential way, from anywhere in the world. VR provides the opportunity to democratize education by opening up opportunities to students of all backgrounds. Companies like Victory XR and Tech Row are providing immersive educational experiences, from digital twin campuses to virtual field trips to places like Antarctica and Machu Picchu.
Sports
VR is changing the way we watch sports. Several VR companies specialize in broadcasting live sports events. You can now watch the NBA, NFL, and other events in VR. Companies such as Big Screen VR enable people to watch the Superbowl together in VR, and NBC announced it will live stream the opening and closing ceremonies of the Beijing Olympics in VR, as well as provide highlights for some of the events in VR.
Art and Design
In the realm of art and design, VR allows artists to create life-size artwork and even step into their images. Applications like Tiltbrush and Masterpiece Studio allow users to draw, sculpt, create and animate virtual 3D models and sculptures.
Events, Conferences, and Meetings
The pandemic has led to a rise in VR events, conferences, and meetings. Platforms such as Glue, Arthur, and Meeting Room can be used to hold collaborative, interactive meetings with colleagues from anywhere in the world. These platforms offer collaboration tools such as whiteboards and freehand 3D drawings, making remote or hybrid meetings as effective as face-to-face meetings.
Fitness
Fitness is another industry that has embraced VR technology. VR fitness apps are some of the most downloaded and used VR apps available, allowing users to upgrade and socialize their home workouts. Two of the most popular VR fitness apps are Supernatural and Fit XR. With FitXR, for example, you join an immersive fitness club with new classes added each day, including boxing, dance, and HIIT.
Wellbeing
With the rise in popularity of wellness and meditation, VR has found its place in this sector as well. Companies like TRIPP are paving the way for calmer minds in VR with over 40 meditations, breath visualization, and visual landscapes. They claim to be a ‘fitness solution for your inner self’, providing a calming escape from reality.
Social
VR enables people to meet in the same virtual space from anywhere in the world. Once in VR, or ‘the metaverse’, people can visit virtual cinemas, restaurants, beaches, concerts, and more together. There are several big players already building social communities in the VR space, including Meta’s Horizon Worlds and AltspaceVR.
Charity
One of the best things about the rise of VR is its ability to evoke empathy. This makes it extremely valuable to charities as it can be used to increase understanding of an issue by experiencing it either in the first person or as a bystander to specific situations. For example, in 2015, Unicef used the video ‘Clouds Over Sidra’ to double their donations towards their work with the Syrian Refugee Crisis.
Marketing
Marketing is becoming more and more about how companies make customers feel so utilizing the immersion of VR seems like a natural extension. From Topshop providing fashionistas with a front row at London Fashion Week with a VR headset, to Tom’s Shoes taking customers on a trip through Peru to show where each pair of shoes they donate goes to, the heightened sense of connection through VR is sure to make you remember and connect with these brands.
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