Technology is evolving at the drop of a hat, and in this highly innovative and competitive environment, companies are striving to improve their existing set of products and create new ones in order to stay relevant in the market. Augmented reality (AR) and virtual reality (VR) technologies have been around for quite some time, but the techniques have recently started gaining steam because of higher network bandwidth and low latency. These technologies have the potential to disrupt the traditional ways of business processes to increase productivity and reduce overall expenses.
In the arc of every modern technology’s development, the major focus is on the technology itself. This is also the case with AR and VR technologies as these technologies have been able to garner widespread attention of companies. AR platforms offer the ability to overlay digital objects onto a surrounding real-life environment through a computer or smart device, whereas VR provides an ability to delve into a completely computer-generated environment. These platforms can be a crucial component for companies towards the success of their customer engagement strategies. AR platforms take reality and add a digital layer to it. These platforms do not block out the real physical world; instead, they add 3D special effects and features, magnifying the experience of the user.
Many studies reveal how engaging the senses can have a direct impact on a customer’s response to a marketing brand. A pleasant experience with engaged senses has been able to generate better responses from the customers. AR and VR technologies can engage consumers more deeply by offering enhanced environments via digitally altered venues which involves senses like visual, auditory and touch. Furthermore engaging the senses can also help companies to build stronger brand loyalty through marketing promotions.
AR/VR platforms have helped business to close the gap with their data. Many companies are using augmented analytics processes that use machine learning techniques and natural language processing to automate the data analysis process. These augmented analytics platforms allow technical analysts and data scientists to focus on complex processes by automating repetitive tasks.
AR/VR platforms have hugely benefited healthcare services. Many AR/VR vendors help healthcare companies in applications like MRI equipment handling, surgeries, medical training, and many other procedures. Automobile industry uses these platforms to support their mechanics during servicing and maintenance of the customer’s cars. Fighter jet pilots use AR-enabled helmets to eliminate blind spots as these helmets provide a 360-degree view to the pilot.
AR/VR techniques are expected to sweep commercial markets with their introduction in the Smartphones and other digital devices. According to the International Data Corporation (IDC), AR/VR market is expected to reach $162 billion by the end of 2020.many companies have started leveraging AR/VR techniques to develop innovative applications.
In the last few months, a distinguished panel comprising of CEOs, CFOs, VCs, and analysts, along with CIO applications editorial board reviewed and shortlisted the top companies that are at the forefront of delivering turnkey AR/VR solutions. We present to you our “Top 10 AR/VR solution providers- 2018,” featuring the companies that can deliver competitive advantage to the sector.