The second quarter of the year only just began and it is already clear that virtual reality will be the most influential development of the year.
The technology is still in its early days in terms of commercialisation and development but it has undoubtedly reached a critical point where it will shake up the tech world and business in general. It is estimated that 2.5 million headsets and 10m games will be sold this year alone as adoption grows.
Virtual reality for business
There has been a lot of talk around the technology in the consumer market, especially as it concerns entertainment and gaming. However, analysts believe that there will soon be more talk on how technology businesses are adopting VR in the service of their customers. Many such businesses are looking for new ways to encourage users to try out VR. For example, gambling sites use the old fashioned way to attract buyers as they give the players the option to sign up without a financial commitment and try out VR gambling, while adult sites are making VR content a priority and introducing their existing customers to the tech.
Business from a different perspective
When it comes to other applications of VR in the business world, some of the applications, especially for consumer brands, include using the technology to give a customer a close up look at a physical product or property. This allows travel experts to provide virtual tours of holiday homes and destinations before they make a decision on their holiday. Vehicle dealers on their part can have a show room where people can come to have a look at the interior and exterior of cars without having the models physically present.
Real estate firms can also take advantage of VR to simplifying the property viewing experience and remove geographical barriers for potential clients. Architects can equally use virtual reality to show construction firms the possible end result of a design.
With VR, employee training can be improved greatly to improve safety. Oil production firms can simulate a serious crisis to see how employees respond. Medical institutions could simulate surgical training for doctors who are looking to improve on their skills. The immersive experience could give new meaning to stereotypical learning processes even in an academic environment.
Your business should act now
As the consumer world waits to see get on board the VR train, businesses need to ensure fast adoption. There are concerns that VR is nothing more than a fad in some quarters but the underlying promise means that it will most certainly be more than a fad in the short to longer term.
VR is engaging and consistent. Its immersive simulated environment makes it easy to help model complex and potentially harmful situations that would be otherwise too costly to pursue in real life conditions. It can help organisations attract new customers, clients and employees which will translate to better bottom line and increased value for shareholders.
The cost of the technology is decreasing so now is the time for businesses willing to tap into the potentials of VR to make their move. Waiting till it becomes mainstream could mean ceding grounds to your competition.