Virtual Reality (VR) is a computer-generated atmosphere with views that look original, offering the user to feel engaged in the surrounding place. VR empowers us to involve ourselves in video games as if we were one of the roles, (ex. learn to execute heart surgery, or improve the quality of sports training to achieve maximum results).
The emergence of AR and VR has radically changed industries such as healthcare, real estate, and even finance. This field of application is expanding at a rather impressive pace. By the end of 2020, the AR and VR market reached $150 billion, and AR will defeat VR at $120 billion.
Uses of Virtual Reality in Retail Industry
Creating a productive business environment begins with the process of hiring. Investing in virtual and augmented reality technology gives HR managers a unique set of tools to attract, train, and retain the best candidates for the job.
The design and layout of the retail store includes a surprisingly large amount of actual science. There are many benefits to using a virtual environment instead of experimenting in real physical space. These include:
- No heavy shelves to be moved from place to place
- Much less time is required for the transition to the new layout
- VR eliminates time and space constraints and allows retailers to reach a wider audience. Virtual stores also allow customers from more remote areas to access their favorite brands and products.
- VR provides full immersion, with stores and goods displayed in front of the user in three dimensions, on virtual shelves of the virtual store. When a product is in front of them, consumers can get a more accurate idea of its appearance and style.
- VR allows retailers not only to strengthen their online business, offering a completely immersive, real-world experience, but also promote their brands and products among buyers.
- Virtual stores allow buyers to explore a vast range of goods, and enable retailers to reach customers in remote areas without requiring new physical stores or additional staff. A virtual guide, which is an optional virtual store function, provides detailed information about the products and their production, thus eliminating the need for additional staff.
There are many advantages of virtual reality technology in human field resources and the training of personnel. It can also significantly help in the marketing and promotion of the company.
Uses of VR in the Real Estate industry
Virtual reality tools are only now becoming an effective communication and marketing tool in the real estate sector. More capital is invested in virtual and augmented reality technology, as this technology has the potential to significantly impact the real estate business. Virtual tours and technologies of virtual production can benefit both potential buyers and developers. For this reason, real-estate market players eager to be ahead of everyone, should consider implementing virtual reality. VR technology also allows for virtual production. In other words, using virtual reality technology, real estate agents can show potential buyers a fully furnished space, even though it is empty in real life. VR applications are saving time for both the buyer and the seller. In addition, VR technology is very convenient for the end-user. Any real estate investor can benefit from this because it helps both to find and retain tenants.
Uses of Virtual Reality in the Healthcare Industry
Modern medical training has shifted from fact-learning to evidence-based training to developing the right patient management strategy. This type of training includes problem-oriented training, communication skills, and VR-based training.
Virtual reality is useful in pre-planning complex operations such as neurosurgical because it helps the surgical team review the entire operation and rehearse the planned intervention. Any medical situation can be modeled with VR so that students can deal with it as in real life. Thereafter, feedback and stocktaking should be provided so that they can learn from their mistakes if any. The cheap VR systems and the fact that teachers are not required make access more flexible and broad.
Computer graphics allows the recreation of any part of the body in the smallest detail with the utmost accuracy to reality. Moreover, the training can be conducted using scenarios that accurately simulate common surgical situations.
Understanding how real-life fractures occur and worsen is very useful for orthopedic surgeons in the training process. Simulation-based VR training is a very effective method of transferring skills to future laparoscopic surgeons.
Uses of Virtual Reality in Fintech
Businesses, including financial firms, are trying to integrate many of these technologies into their services, although there is still time before VR really makes a living in many industries, including finance. Some companies turn trade into a virtual experience, creating virtual reality workstations for trade. Citi uses Microsoft Hollow Lens to provide holographic workstation traders. This type of workstation offers 2D and 3D elements that complement the existing processes of the bank. Commerce uses virtual reality in its welfare management software to give users better access to algorithms and trading tools.
To create a more secure client experience, biometric security can be implemented in a VR system, which can then be connected to the VR world. This can be used for access to VR banking services, ATM operations, or payments.
Digital banks and mobile banks are here. But someday, soon, they will be able to visit the virtual bank. If clients cannot visit the physical branch of the bank for any reason, they will soon be able to contact the virtual branch. It is hoped that these offices will be able to provide the same services, but only in a VR environment.
Uses of VR in the Food Industry
In today’s rapidly changing world, the food industry must rise to the occasion and use its full potential to ensure the quality and convenience of consumers. One new way to meet the need for modernization is virtual reality. People can easily find the topic they’re interested in, in a matter of seconds.
Moreover, virtual reality allows creators and marketers to demonstrate their food beyond physical reality.
Information can easily be disseminated more easily through the use of virtual reality. Companies can instruct graphic artists and editors to create video clips and interactive games to better represent their products.
Thanks to careful experience, consumers can become more attached to the product, which will force them to return next time. It will help to keep existing customers and make it easier to attract new ones. A virtual space that will help people with interest immerse themselves in the world of cooking can transform the food industry.
Creators can use real photos as references for 3D models included in the virtual world. A virtual assistant can be an additional feature of virtual reality to help you learn skills.
Personalized training materials contribute to better customer engagement. With these, customers can change language, voice quality, color intensity, and more to maximize learning efficiency.
These capabilities help make VR more inclusive, enjoyable, and fun than paying for online cooking lessons.
Uses of Virtual Reality in the Travel industry
Virtual Reality is effectively changing the travel industry. As a hotel or travel company, you can present a different experience to clients using VR technology on your site or in downloads. With VR, people can use their iPhone or Android phone to move closer to places that are impossible to visit in real life, such as closed cultural heritage sites or ecologically fragile landscapes where no one is allowed to go.
In these cases, VR applications can be the only way for the densely populated world to get to know some of the greatest wonders of the world from afar.
Moreover, the disabled and the elderly will also use VR travel, because, although their condition does not allow them to independently see sights, they will still be able to see them through lenses.
Uses of Virtual Reality in Games
Using a virtual reality device provides a perfect experience of traveling in space and time without actual movement. You feel entirely detached from your body but still connected to your piercing heart when virtually descending from a mountain on slalom or exploding into space.
Devices such as Oculus Rift and Samsung Gear VR are now delivering such experiences, and those seeking a low-budget alternative have Google Cardboard. But so far, most of the talk and work relating to VR has focused on games, and it is easy to see why. Gamers often try to immerse themselves in the game as much as possible. But technology has applications that go far beyond the intensification of battles in Call of Duty and Advanced Warfare.
The companies involved in gaming have started to create more immersive solutions that attract more and more new users.
VR’s gaming space increases business costs with this new disruptive technology. Virtual reality gadgets are becoming increasingly popular among gamers. Moreover, VR awareness is steadily promoting among users and players. After the launch of the VR headset market, the gaming industry began a change and revolution.
Sunvera Software develops next-level software applications from start-to-finish. Schedule a free 30-minute call with us to discuss your business, or you can give us a call at (949) 284-6300.