Augmented and VR Industry Trends in Business for 2021

December 30, 2020

Augmented and VR Industry Trends in Business for 2021

2020 has seen a massive shift toward immersive digital experiences. Augmented reality and virtual reality systems have been a mainstay in gaming over recent years, but this revolutionary tech is transforming the way we connect with each other – and our favorite brands.

Online and traditional businesses are using these systems to give customers a way to build a digital environment that meets their needs, respond to real stimuli in real time, and track their movements with key data.

Retail brands, service providers, and even hands-on professions have been able to stay afloat with the help of AR/VR communication systems, reporting programs, and mobile storage apps.

Read on to learn more about how augmented and VR industry trends in business are expected to grow heading into 2021.

Augmented Reality and Virtual Reality Market Growth

The AR/VR industry as a whole has grown significantly in just 2020 alone. The pandemic drove people inside and online, and VR/AR systems bridged the gap between their online lives and their everyday routines.

Chatting with friends, buying groceries, or even trying a new car in your driveway are all functions that can be completed entirely online with the help of augmentative or virtual reality technology. Growing tech brands and developers saw this need and met the demand with:

  • Mobile-friendly apps
  • Cloud-based storage bases
  • Local and online connectivity with friends
  • Affordable auxiliary equipment
  • Smart wearables
  • Sophisticated AI-enabled reporting

This industry’s rapid growth is largely due to the human need for connection and seamless collaboration, without the ability to meet in person.

The augmented and virtual reality industry generated more than $37 billion in revenue last year alone, but that number is expected to rise exponentially. By 2030, industry experts expect AR/VR tech to be pulling in upwards of $200 billion.

Augmented Reality and Working From Home

Among other parts of the market that are skyrocketing this year, remote assistance programs are soaring off the (virtual) shelves. Technicians, engineers, shoppers, and even homeowners are using these systems to connect with people independent of their physical location.

With headsets also taking off and becoming more affordable, it’s easier for anyone to gain a higher level of control and detail when it comes to online actions.

With just a mobile device (and wearable headset, in some cases) users are able to talk with their colleagues, simultaneously manipulate digital models, and review cloud-hosted information from any protected account.

Now, co-workers can continue to work on joint projects with ease, while also reducing their timelines with sensitive task automation and AI-assisted project management tools. Video chat services that use multi-angle lenses and responsive movement tracking are also being used to simulate an in-person meeting environment.

Additionally, this level of audio/visual connectivity has immensely helped those who have been forced into less-than-optimal home office environments. Building a virtual office environment reduces the amount of physical space and equipment needed to complete the same tasks.

Augmented, virtual, and mixed reality solutions have the potential to drastically reduce corporate spending and employee investment responsibility across a wide variety of industries and specializations.

Can Augmented Reality Increase Sales?

Just like consumers are looking for an easier way to talk with brands and peers online, they also want to simplify any and all tasks they can. The growth of smart tech and in-home assistance tools that sync with our mobile devices has led to an interest in an even more immersive experience.

COVID-19 shook up the existing commercial space, and built a new model that’s dependent on remote connectivity and online mobile user engagement. Adding VR/AR elements to their existing online presence has helped brands to:

  • Improve CTR metrics
  • Keep users on the page longer
  • Increase conversions
  • Build brand loyalty
  • Boost sales pipelines through referrals

Retail brands are using AR/VR technology in a variety of ways, from advertising to product sampling to the customer service process. Being able to visualize products, gain a deeper understanding of brand offerings, and speak to representatives “face-to-face” is boosting engagement and retention rates across many commercial spheres.

Additionally, customers are enjoying the use of AR-enabled mobile apps to guide their in-store experiences. For brands that are still operating in person, customers can use augmented reality to virtually try on a blouse – or find the same item in a different size and color with a helpful on-screen visual guide.

This has largely increased seller revenue by reducing operational costs, such as additional floor staff, while increasing sales due to increased brand awareness and ease of use.

For brands that operate entirely online, this growth has occurred ten fold. Those who are skeptical about online purchases can easily try on a product with a virtual widget through their desktop or a mobile app. Additionally, customers can get bonuses and discounts from fun, immersive minigames and 360-degree images that are saturated with the brand’s unique branding.

Whether intentionally or subconsciously, augmented and virtual reality technology is completely transforming the way we shop in person and online.

How Does VR Affect Online Business?

One of the main struggles online businesses faced in 2020 was resuming standard production and daily operations without a central office location. Now, employees and consumers around the nation are still trying to conduct daily commerce from home – or their local coffee shop.

Virtual reality has provided an interesting tool for staff and managers to stay connected – and productive – during this unprecedented time. With dynamic reporting, automated task management, and realistic 3D model projections, virtually every commercial sphere has changed as a result of this tech innovation.

For larger markets like home and automotive, this feature has proven to be imperative for a successful remote purchase. Essentially, the addition of a digital way to “try before you buy” has significantly increased buyer satisfaction and brand recognition in a shorter amount of time compared to traditional shopping methods.

For example, car brands are using augmented and VR industry trends to make the car-buying process easier for every consumer. Instead of heading to the dealership just to leave empty handed, customers can find the exact car they want, take a virtual test drive, and even apply for financing directly from the VR car showroom.

Helping consumers visualize what they’re buying with high-quality 360-degree images and videos is just one way brands are boosting sales with this innovative system. Additionally, customers are reducing returns and improving satisfaction by knowing exactly what they’re shopping for before they buy.

What is the Future of AR/VR?

The augmented and virtual reality industry have come a long way, but these revolutionary tech systems aren’t slowing down anytime soon. In fact, experts expect this sphere to gain billions in revenue over the next few years.

Just like social media took over and became the primary point of contact for millions of online users, VR/AR technology will likely be the main way to communicate and connect online.

Gamers are enjoying the increased graphics and sensor capabilities that allow them to mimic real-life actions and maneuvers. Shoppers, on the other hand, are saving time and money by improving the way they buy products they use everyday.

Quite simply, augmented and virtual reality experiences make mundane hopping tasks and UX features much more fun for current and potential customers.

Why would you just view a demo video when you could take a virtual test run of the product in question? Or, why would a customer want to keep track of a punchcad when they could spin a wheel with their own hands (through their mobile phone) to win a discount? The possibilities are endless, and brands across the world of global retail and ecommerce have used similar systems to make customers more likely to return to their stores.

AR/VR is also driving consumers to save money in the long run, but increasing their security in their purchases and preventing buyers’ remorse. For larger purchases that require a lengthy investment, this change alone is helping consumers save thousands a year in standard incremental costs.

The need for seamless and constant mobile connectivity has driven the growth of smart home platforms, voice-enabled assistance devices, and in-car augmented displays. These changes have improved consumer safety, security, and satisfaction in a major way. Now, it’s not likely that consumers will want to return to manual methods once their lives have been simplified by AR/VR technology.

If you plan on being on the internet in the near future, you’ll be seeing more of these increasingly influential trends. Everything from social media advertisements to online checkout platforms will be using these innovative software tools to speed up the process, and save both parties money over time.

Keep an eye out for these growing spheres to see how augmented and virtual reality tools will become a mainstream component of American lives moving forward.

2020 has seen a massive shift toward immersive digital experiences. Augmented reality and virtual reality systems have been a mainstay in gaming over recent years, but this revolutionary tech is transforming the way we connect with each other – and our favorite brands.

Online and traditional businesses are using these systems to give customers a way to build a digital environment that meets their needs, respond to real stimuli in real time, and track their movements with key data.

Retail brands, service providers, and even hands-on professions have been able to stay afloat with the help of AR/VR communication systems, reporting programs, and mobile storage apps.

Read on to learn more about how augmented and VR industry trends in business are expected to grow heading into 2021.

Augmented Reality and Virtual Reality Market Growth

The AR/VR industry as a whole has grown significantly in just 2020 alone. The pandemic drove people inside and online, and VR/AR systems bridged the gap between their online lives and their everyday routines.

Chatting with friends, buying groceries, or even trying a new car in your driveway are all functions that can be completed entirely online with the help of augmentative or virtual reality technology. Growing tech brands and developers saw this need and met the demand with:

  • Mobile-friendly apps
  • Cloud-based storage bases
  • Local and online connectivity with friends
  • Affordable auxiliary equipment
  • Smart wearables
  • Sophisticated AI-enabled reporting

This industry’s rapid growth is largely due to the human need for connection and seamless collaboration, without the ability to meet in person.

The augmented and virtual reality industry generated more than $37 billion in revenue last year alone, but that number is expected to rise exponentially. By 2030, industry experts expect AR/VR tech to be pulling in upwards of $200 billion.

Augmented Reality and Working From Home

Among other parts of the market that are skyrocketing this year, remote assistance programs are soaring off the (virtual) shelves. Technicians, engineers, shoppers, and even homeowners are using these systems to connect with people independent of their physical location.

With headsets also taking off and becoming more affordable, it’s easier for anyone to gain a higher level of control and detail when it comes to online actions.

With just a mobile device (and wearable headset, in some cases) users are able to talk with their colleagues, simultaneously manipulate digital models, and review cloud-hosted information from any protected account.

Now, co-workers can continue to work on joint projects with ease, while also reducing their timelines with sensitive task automation and AI-assisted project management tools. Video chat services that use multi-angle lenses and responsive movement tracking are also being used to simulate an in-person meeting environment.

Additionally, this level of audio/visual connectivity has immensely helped those who have been forced into less-than-optimal home office environments. Building a virtual office environment reduces the amount of physical space and equipment needed to complete the same tasks.

Augmented, virtual, and mixed reality solutions have the potential to drastically reduce corporate spending and employee investment responsibility across a wide variety of industries and specializations.

Can Augmented Reality Increase Sales?

Just like consumers are looking for an easier way to talk with brands and peers online, they also want to simplify any and all tasks they can. The growth of smart tech and in-home assistance tools that sync with our mobile devices has led to an interest in an even more immersive experience.

COVID-19 shook up the existing commercial space, and built a new model that’s dependent on remote connectivity and online mobile user engagement. Adding VR/AR elements to their existing online presence has helped brands to:

  • Improve CTR metrics
  • Keep users on the page longer
  • Increase conversions
  • Build brand loyalty
  • Boost sales pipelines through referrals

Retail brands are using AR/VR technology in a variety of ways, from advertising to product sampling to the customer service process. Being able to visualize products, gain a deeper understanding of brand offerings, and speak to representatives “face-to-face” is boosting engagement and retention rates across many commercial spheres.

Additionally, customers are enjoying the use of AR-enabled mobile apps to guide their in-store experiences. For brands that are still operating in person, customers can use augmented reality to virtually try on a blouse – or find the same item in a different size and color with a helpful on-screen visual guide.

This has largely increased seller revenue by reducing operational costs, such as additional floor staff, while increasing sales due to increased brand awareness and ease of use.

For brands that operate entirely online, this growth has occurred ten fold. Those who are skeptical about online purchases can easily try on a product with a virtual widget through their desktop or a mobile app. Additionally, customers can get bonuses and discounts from fun, immersive minigames and 360-degree images that are saturated with the brand’s unique branding.

Whether intentionally or subconsciously, augmented and virtual reality technology is completely transforming the way we shop in person and online.

How Does VR Affect Online Business?

One of the main struggles online businesses faced in 2020 was resuming standard production and daily operations without a central office location. Now, employees and consumers around the nation are still trying to conduct daily commerce from home – or their local coffee shop.

Virtual reality has provided an interesting tool for staff and managers to stay connected – and productive – during this unprecedented time. With dynamic reporting, automated task management, and realistic 3D model projections, virtually every commercial sphere has changed as a result of this tech innovation.

For larger markets like home and automotive, this feature has proven to be imperative for a successful remote purchase. Essentially, the addition of a digital way to “try before you buy” has significantly increased buyer satisfaction and brand recognition in a shorter amount of time compared to traditional shopping methods.

For example, car brands are using augmented and VR industry trends to make the car-buying process easier for every consumer. Instead of heading to the dealership just to leave empty handed, customers can find the exact car they want, take a virtual test drive, and even apply for financing directly from the VR car showroom.

Helping consumers visualize what they’re buying with high-quality 360-degree images and videos is just one way brands are boosting sales with this innovative system. Additionally, customers are reducing returns and improving satisfaction by knowing exactly what they’re shopping for before they buy.

What is the Future of AR/VR?

The augmented and virtual reality industry have come a long way, but these revolutionary tech systems aren’t slowing down anytime soon. In fact, experts expect this sphere to gain billions in revenue over the next few years.

Just like social media took over and became the primary point of contact for millions of online users, VR/AR technology will likely be the main way to communicate and connect online.

Gamers are enjoying the increased graphics and sensor capabilities that allow them to mimic real-life actions and maneuvers. Shoppers, on the other hand, are saving time and money by improving the way they buy products they use everyday.

Quite simply, augmented and virtual reality experiences make mundane hopping tasks and UX features much more fun for current and potential customers.

Why would you just view a demo video when you could take a virtual test run of the product in question? Or, why would a customer want to keep track of a punchcad when they could spin a wheel with their own hands (through their mobile phone) to win a discount? The possibilities are endless, and brands across the world of global retail and ecommerce have used similar systems to make customers more likely to return to their stores.

AR/VR is also driving consumers to save money in the long run, but increasing their security in their purchases and preventing buyers’ remorse. For larger purchases that require a lengthy investment, this change alone is helping consumers save thousands a year in standard incremental costs.

The need for seamless and constant mobile connectivity has driven the growth of smart home platforms, voice-enabled assistance devices, and in-car augmented displays. These changes have improved consumer safety, security, and satisfaction in a major way. Now, it’s not likely that consumers will want to return to manual methods once their lives have been simplified by AR/VR technology.

If you plan on being on the internet in the near future, you’ll be seeing more of these increasingly influential trends. Everything from social media advertisements to online checkout platforms will be using these innovative software tools to speed up the process, and save both parties money over time.

Keep an eye out for these growing spheres to see how augmented and virtual reality tools will become a mainstream component of American lives moving forward.