AR and VR technologies show continued growth – research

Enterprise’s increasing confidence in AR/VR return on investment will drive adoption within a broader digitization market

AR and VR technologies show continued growth – research. Source: shutterstock.com

A greater understanding and acceptance of the value of AR and VR solutions across enterprise verticals are driving continued investment and growth. In addition, advancements in hardware and software systems and increasing capabilities are creating a robust objective value among numerous use cases. According to ABI Research, this growth trend will continue as more ROI data points become available, and enterprise AR/VR customers continue to scale their efforts.

Companies such as Portico and PixoVR have proven that leveraging VR solutions reduces training time significantly. Porsche decreased service resolution time by 40% when utilizing AR guidance and remote assistance for maintenance, and Boeing managed to reduce production time by 35% with AR compared to traditional documentation and training methods. There are numerous successful examples in the market that prove the advantages that emerging solutions bring in terms of employee efficiency, improved production and quality, customer service, and machine lifecycle. Overall Equipment Effectiveness (OEE) can benefit dramatically from AR/VR, especially with reduced service resolution rate, error/defect rate, and total unplanned downtime.

A deeper examination of AR/VR applications, integration with other disruptive technologies such as IoT or AI, and increasing successful implementations in the market continuously prove the value of AR/VR solutions in the enterprise. Advancements and more competitive prices in hardware and software will naturally happen, and more long-term implementations are necessary for minimizing uncertainty, for identifying and addressing potential challenges such as security or change management, and for determining best practices that drive successful and stable digital transformation
Eleftheria Kouri, Research Analyst at ABI Research

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