AR/VR industry has the attention of investors, entrepreneurs and companies. As venture capital dollars and equity funding deals grow in this field, AR/VR related businesses, products and services are changing the way people learn, work and play. From communication to socialization, transactions to exercise, AR/VR technology has impacted every field. Making a shift away from the screen, virtual and augmented reality provides a new way to do business and interact garnering tons of enterprise productivity.
Commercial and Industrial Applications That Advance Technology
Virtual reality is changing the real world...for the better. Augmented reality or VR overlay over reality and the use of VR applications have sparked a digital revolution. Commercial as well as industrial applications of VR/AR include marketing technology, sports training, labour training, retail, interior design, real estate security, quality testing, manufacturing, data analytics and heath care, to name just a few. Content studios are utilizing VR/AR startups to enhance gaming, educational and journalistic content.
How are VR/AR startups changing the world? From classroom to corporate learning and management, even the way people acquire knowledge has seen innovation through immersive learning enabled by AR/VR startups. Through gaming solutions, popular video games have immersed gamers in visually enhanced environments. Startups in the field provide a destination for those seeking VR/AR content and apps. Virtual meeting environments and chat rooms are changing the way people socialize, collaborate and communicate.
HMDs, mixed reality displays camera and capture technology, accessories and input devices and speciality lenses have seen the AR/VR revolution too from Google's investment in Magic Leap to Fox's funding of Osterhout Design Group. Software creation through SDKs, gesture and motion tracking, haptic feedback technology and live streaming tools have also undergone a revolution thanks to VR/AR solutions. The aim? To use technology that enriches the real world through digital information overlay whether you consider graphics, sound or video, is the new innovation hitting India and the rest of the world.
2016 saw investments in AR/VR touch USD 1.1 billion in the first two months of the year. Investments in the space rose by 20 percent in the Q1 of 2016. Technology majors that have poured in money into AR and VR startups include Apple. Microsoft and Samsung. Every large corporate has invested in AR/VR solutions whether you consider fields like real estate, e-commerce, healthcare, defence or entertainment.
Startups provide sound testing ground for new technologies based on a robust ecosystem that is hi-tech. Network strength, stability and availability are vital for AR/VR startups to survive and emerging economies such as India are getting there. Some of the most innovative thinkers and investors are looking to revolutionize AR/VR technology through startups that are making a difference. Now, the world is waking up to virtual reality in the real world, and its scope for creating a new and exciting future.