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The Future of Virtual Reality in Business

We are all dependent on technology. Each day of our lives revolve around technology and all things digital. Besides, we hear about new advances in technologies everyday from self-driving car companies like Google to personal virtual assistants like Amazon's Alexa. 

Technology has become the centre of our lives and we find it too hard to imagine a day without our smart gadgets. Although our world revolves around gadgets and smartphones today, there will soon be a future where new devices and advanced technology will take the place of the gadgets we swear by. 

We all have experienced or at least learned about the concept of virtual and augmented reality. In this article, we shall discuss the impact of virtual reality and mixed reality on business. 

Definition - Virtual, augmented, mixed and extended reality

Before we dive into understanding how it impacts businesses, let us take a look at what these words mean. 

  • Virtual Reality (VR): Virtual Reality is an artificial environment that is generated with the help of certain software. It is then presented to the users in such a way that the user accepts it as a real environment. The situations and scenarios are often created with the help of computers. Also, it can be composed of 360-degree videos which are also termed as spherical videos. 
  • Augmented Reality (AR): Augmented is derived from the word augment which refers to adding something. Augmented Reality is explained as the integration of digital overlays that adjusts with the user's environment in real time. This adjustment creates a completely artificial environment unlike Virtual Reality. In other terms Augmented Reality makes use of the existing environment and overlays new information on it.
  • Mixed Reality (MR): Mixed Reality is at times also referred to as hybrid reality which augments the real world along with virtual objects that look real if placed in the environment. 
  • Extended Reality (XR): Quite a new concept, Extended Reality is explained as a wide array of current as well as future spatial computing technologies. 

Having said that, let us take a closer look at how Virtual Reality helps businesses and what opportunities it brings for the leading advertising companies in Kolkata. 

Future of Virtual Reality in business

Virtual Reality is expected to mark a huge difference in the gaming industry. Apart from the gaming industry, entertainment is supposed to make use of VR at a large scale. Along with video game lovers, consumers can experience a whole new way of taking vacations or be at a sporting event, that too from the comfort of their home. 

Yes, without having to leave your home!!!

Industries that can successfully make use of Virtual Reality are -

  • Real Estate 
  • Construction 
  • Architecture 

VR could be easily used in training professionals belonging to the real estate industry, construction and architecture. These industries could also make use of VR to give their customers a quick look at what the final environment would look like. 

This is highly beneficial for consumers as well as it boosts better memory retention and understanding. 

Other industries that can benefit from VR

Safety Training Centres

VR could also be used at Safety Training Centres and help provide the workers with a demo for training and better understanding. 

Healthcare Centres 

VR also has penetrated the healthcare centres recently with the help of transitions from trials and pilots. VR has been proven to be highly beneficial in treating patients dealing with anxiety disorders. VR helps doctors to get a clear idea about how a patient would react to stress-inducing situations without having to compromise their safety by actually putting them into such situations. 

In addition, it also helps to diagnose people suffering from visual or cognitive impairments with the help of eye tracking. 

What's in store for your business? 

Although there is still time before Virtual Reality penetrates every business, the social media marketing agency in Kolkata suggests that this technology can take the market by a storm and actually benefit brands a lot.

As the growth rate continues at a rapid rate, such technologies will become more affordable and hence businesses are expected to invest in this market aggressively as a part of their marketing strategies. Heather Bellini of Goldman Sachs Research expects that Virtual and Augmented Reality is soon going to captivate a market of $80 billion by 2025. 

In case you choose to learn more about Virtual, Augmented, Mixed and Extended Reality you can get in touch with the leading advertising companies in Kolkata. 

Contact BUSFAM for effective digital marketing strategies to take the market by a storm and increase your conversions.  

BUSFAM works with some of the industry experts who aces the field of digital marketing and can help you skyrocket your business against a reasonable investment. We offer services like SEO, SMO, ORM, PPC, GMB, Content and video marketing and more to increase engagement and drive customers. 

So what are you waiting for? 

Give us a call now!!!