Hear from the best minds in VR/AR including Accenture, SuperData Nielsen, Atheer, Itseez 3D from our Enterprise Industry Committee on the latest use cases, best practices, and ROI in theenterprise. Corporate leaders are tasked with reimagining the experiences they want for their customers in the face of a changing technological landscape. Learn why every enterprise needs aVR/AR strategy now, not later. RSVP here
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This 40+ pages paper was co-written by 9 industry experts and our Enterprise Committee, exploring the positive and lasting impact that VR and AR technologies can have when businesses deploy them to generate substantial revenue, increase productivity or improve safety.
Thank you to Atheer for the support in making this white paper possible.
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Virtual & Augmented Reality are immersive technologies that provide new and powerful ways for people to generate, use and interact with digital information. These technologies take traditional media beyond conventional screens and use photographic images, video or computer generated graphics (sometimes provided as an 360-degree view within your field of vision) as a new communication and interaction medium that can be used across your company from marketing and sales to field services, training and data visualization.
Companies like Walmart, Farmers Insurance and Boeing have already begun deploying this technology across their organizations for training. Specific examples of how other brands are using VR/AR right now are detailed in this paper. Whether you are a brand marketer, director of operations, run a line of business or head of HR, there are many ways you can deploy this technology to generate substantial revenue, increase productivity or improve safety.
This white paper is broken into the following parts so you can skip to what is of interest to you:
Market Predictions for VR/AR
Key VR Industry Market Size Estimates
Market Size Estimates: Drilling Down on Enterprise
How to use Virtual Reality in your business?
20 uses of VR/AR for Business
Deeper Dive on Examples
Preparing Your Business for the Immersive Future
8 steps to build your VR/AR experience
Banking & Financial
Health & Medical
Virtual Reality Architectural Renderings
Industrial (Mining, Oil & Gas, Manufacturing)
VR Simulations & Data Analysis
Restaurant & Food
Travel & Tourism
Communications & HR
Different Types of VR
Uses for VR/360° Video
Computer Generated (CG) Virtual Reality
VR Head Mounted Displays
AR Head Mounted Displays
Challenges Facing VR/AR Adoption
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Google, Amazon, Facebook, Apple, Samsung and Microsoft all want a piece of the VR/AR pie – not to mention Magic Leap, whose first consumer product is “coming soon.” VR/AR is about extension, engagement and monetization. Not since the 1980s have all the big tech players been battling for consumer attention and dollars. So, what is on deck in 2018, and why should we care?
These are the trends highlighted by ARtillry Intelligence for 2018:
Enterprise pulls ahead
Enterprise AR is going to get real in 2018, with companies capitalizing on ROI in both efficiencies and error reduction. Think processes, and how interdisciplinary teams can work better together.
Mobile AR rebounds
Mobile AR is set for big wins in 2018! With everybody owning better and higher-resolution phones, the adoption of mobile AR is a natural evolution. AR app revenue is due to increase because companies will start creating AR apps to sell their products and further extend and engage their customers.
Mobile AR standards develop
With both Google and Apple introducing AR offerings into their lineups, coupled with increased demand from retailers, native AR and AR-first mobile app experiences will rule 2018. As a result, AR standards are set to be solidified this year. User experience will be top-of-mind for product managers.
Consumer VR gets a jolt
With Oculus Go set to release in mid-2018 and reportedly to be sold at $199, consumers will happily buy in to provide a jump in the VR market.
Unifying technologies emerge
As platforms and fragmentation continue to evolve, consumers and enterprises alike will look to tech that provides seamless execution. Enter WebVR/AR. In addition, expect to see more tools for developers and options for enterprises.
Ultimately, it will be a race to 100 million VR/AR units sold. According to ARtillry Intelligence, “That’s the size of the installed base that will be a key milestone and turning point for VR. It’s the number that attracts content creators and supporting functions, as well as a network effect.”
What is the unit price that drives the market? $200-$400. How many years until VR/AR reaches the magic 100-million mark? Three years.
We already know that games with in-app purchase business models are proven revenue generators. So, companies in 2018 will try to tap into ROI success experiences and experiment with location-based promotions and sponsorships. Overall, with investment dollars continuing to flow, the market is not slowing down.
The year 2018 will bring more strategic investment, business development and spend in VR/AR. Some unicorns should expect to see their rainbows narrowed – but more established businesses will begin to taste the ROI of user-based VR/AR experiences.
Published by ISACA News
Boeing, the US Postal Service Inspector General and Aisle411 took the stage at the first VR/AR Association Chapter Event in St. Louis on February 11th. Nearly 100 attendees turned out to Venture Cafe to see live augmented reality and virtual reality demos, and hear from some of the leaders who are building and deploying solutions in the market.
John Chicoli who oversees training systems at Boeing discussed how his team is using the latest VR technology to save potentially millions of dollars, while at the same time enhancing training programs. The power of new VR technology allows Boeing to perform training exercises that previously costs hundreds of thousands of dollars and months to build, and now execute for hundreds of dollars and days to build.
Lisa Nieman of the US Postal Service Inspector General discussed how their team is deploying augmented reality experiences to physical mail - which leads to more engagement and more sales for marketers. Ms. Nieman also showcased how the USPS is looking to leverage augmented reality for their workforce, with the implications potentially saving tens of millions of dollars annually.
Matthew Kulig of Aisle411 demonstrated some of the latest applications of Google's Project Tango technology and how brands and retailers are using the technology to create more engagement, more traffic to their aisles, better customer service, and ultimately more sales.
Also attending the event were several new technology, design, university and journalism organizations that are transforming the VR and AR market. StoryUP VR, based in Columbia, MO was demo'ing some of their VR journalism, taking you on an emotional ride all over the globe through their immersive storytelling. The University of Missouri (MU) attended the event and is preparing to launch a VR lab to facilitate research and development coming out of the university. And new start-up MojiLab based in St. Louis, MO with recent funding from Cultivation Capital attended the event. Mojilab creates 2D, 3D and VR shortform content optimized for social media. Mojilab's technology has been used by the likes of Fast Company, and likely many more to come.
Overall, the energy at the Chapter event was off the charts and I'm looking forward to our next St. Louis Chapter event in April -- stay tuned!
Below is the opening remarks presentation: