New realities in the virtual world

Despite being a relatively nascent technology, virtual reality (VR) adoption across global organisations has been widespread. Furthermore, with the deployment of 5G-powered smartphones and 5G networks, immersive technologies such as augmented reality (AR) and virtual reality have witnessed significant growth.

In line with this growth, GITEX Global, to be held from October 17-21, 2021, will showcase leading technologies, including virtual and augmented reality, blockchain, artificial intelligence, drones, robotics, 3D printing, and the Internet of Things.

The platform will also provide the chance to attend six big tech events all at once: GITEX Global, GITEX Future Stars, Future Blockchain Summit, AI Everything, Marketing Mania and Fintech Surge.

As the pandemic fades, spending on augmented reality and virtual reality is expected to rise from $12.0bn in 2020 to $72.8bn in 2024, according to IDC. “Many enterprises are making necessary investments to address needs that outlive ones brought on by the pandemic, and for many, the adoption of AR/VR is just the tip of the iceberg,” said Stacey Soohoo, research manager, customer insights and analysis at IDC.

While augmented reality and virtual reality continue to see strides and innovations in the gaming and entertainment industries, the technology is also rapidly expanding to automotive, healthcare, retail and more.

Transforming industries

Students can take virtual field trips in the classroom in the education sector, totally immersing them in an enriching experience. In addition, students may go to museums worldwide to see exhibits up close, learn about historical events and locations.

According to reports, the Newcastle Hospital, UK uses the Osso VR training platform to prepare surgeons for strenuous procedures. The system uses haptic devices to replicate medical instruments and data analytics to provide accurate measures of surgical skills.

As per Pwc UK, VR is adding immense value and transforming the real estate industry. By wearing a headset, customers can travel into selected properties from the comfort of their own houses. With this virtual visit, buyers get a real feel of the premises and understand the dimensions and space of the place than looking into a brochure. In addition, virtual visits can be interactive for properties under construction, offering an effective way to customise the property. For example, customers can change the lighting or experiment with different coloured paint and place furnishings down to bring the property to life.

Meanwhile, in the automotive industry, Daimler India Commercial Vehicles (DICV) launched the first Virtual Reality Center (VRC) at its Chennai factory earlier this year. The VRC uses a digital model accessed by 3D goggles and navigational joysticks to allow operators to execute serviceability and accessibility inspections virtually. Because it eliminates the need for custom-built tools, prototype vehicles, and service bays, this can change both R&D and vehicle servicing operations. In addition, this new capability significantly reduces the time and costs required for commercial vehicle testing and development.

Beyond healthcare, automotive, real estate and education, VR benefits many other sectors. It also opens new doors and experiences on seeing the world, but we should not forget that this is still a technology in progress with challenges. For instance, developing VR programmes need high-quality hardware, high-speed computers, efficient graphics cards, precise tracking systems, high-resolution displays, and highly specialised accessories.

Immersive future

However, being a part of this technology is beneficial for businesses and customers. Researchers predict that it won’t be long before enterprises start using VR devices in their day-to-day activities. Since the VR market has the potential to change drastically over the next few years, market players should continue to pay close attention to this industry. To learn about this technology and experience it, visit GITEX Global from October 17-21, 2021 at the Dubai World Trade Centre.