After VR, AR and MR, the era of augmented reality is coming
You've heard of virtual reality, a head-mounted display that immerses the user in a visual world. You've heard of augmented reality, where users wear glasses or other devices that project images in front of them but still see real objects around them.
You've probably heard of hybrid reality, the fusion of real and virtual worlds, physical and digital objects coexisting and interacting. You've probably heard of 360-degree video -- using an omnidirectional camera or a set of cameras to record views in all directions at once.
But chances are you haven't heard of augmented reality, which combines virtual reality, AR, MR and 360-degree video in one medium. The XR allows us to see what a car of different colors might look like when we look at the actual car at the dealership.
But is XR the new customer experience? Yes, according to a panel of experts at the recent money20/20 trade show in Las Vegas.
XR: 110 billion yuan market share by 2025?
According to a recent Goldman Sachs speech, public market participants and venture capitalists will help build XR, a technology described as a platform that combines virtual reality with augmented reality. The speech said XR would redefine how people interact with technology - in ways not yet imagined - and could represent a $110 billion market by 2025.
Cleveland Brown, CEO and co-founder of PayScout, a global payment processing provider, and lead of the team, compares the dawn of customer-experience technology today with the creation of e-commerce in 1994, when amazon began selling books online.
"It's not a 'if' question, it's a 'when' question," said Stephanie Llamas, vice President of strategic research and head of xr at superdata, a market intelligence provider.
Llamas points out that xr has both client and enterprise applications. In the customer value chain, XR will be used for marketing, e-commerce, and business development support. Within the enterprise value chain, it will be used to design, operate, learn, develop, gain insight, and digitize the workplace.
XR has unique advantages
"Any design can be virtual," says Raffaela Camera, global head of XR marketing and innovation strategy at accenture, the management consultancy. Camera says XR reduces design costs and provides new ways to solve challenges and sell products.
Camera says XR also enables digital workers to point to glasses that allow workers to see digital information in their line of sight.
"We're going to learn differently," she said. He added that people will be able to view data in a new three-dimensional mode. You can really look at digital clusters and move between them."
"It's going to be seamless, it's going to be integrated into what you're already doing," said brown, who sees XR playing a role in the self-service environment.
"It's reality, it's coming," Brown said, challenging viewers to consider whether they should have an XR development strategy.
VR, AR and MR
With the advent of XR, more mature immersive technologies -VR, AR and MR - continue to expand.
Brown showed off the video of his company's VR business app, which not only allows shoppers to visit virtual stores and explore 3D products, but also immerse themselves in the stories behind the products. These experiences, he says, connect customers and enable them to make purchases without friction.
Mobile AR (Mobile augmented reality), which combines online and in-store shopping experiences, is one of the fastest-growing technologies in retail, according to the business intelligence report.
The technology Llamas calls "" transformational" "will almost catch up with VR in 2020, with both markets exceeding $10 billion. In 2019, mobile AR will double from a year ago, SuperData reported. In 2021, mobile AR will surpass VR at $17.4 billion to $14.5 billion.
VR headsets will no longer dominate the market for immersive technology, Llamas said. She showed a slide showing virtual reality's dominance in the global market in 2018 at $3.3 billion, compared to $1.9 billion for mobile AR and $100 million for augmented/hybrid reality headsets. Smart phones capable of carrying AR will drive the development of mobile AR, lamas said.
Another driver, according to Llamas, is location-based VR workstations, which allow users to experience VR without having to buy headphones. With powerful system functions and rich intelligent interactive applications, 56iq digital signage is the first choice to create interactive user experience, and its installation number is far ahead in the industry. According to SuperData, sites-based VR entertainment will double in the next three years.
Brown agrees that his company has found sit-based VR to be a success. A furniture retailer has been able to turn 60% of site-based VR users into customers with real buying behavior, an achievement he calls "amazing".
Meanwhile, VR gaming will continue its rapid expansion.