7 Reasons why XR is the Next Big Thing

Extended reality (XR) is the next big thing that challenges your concepts on reality and perception. It will dominate your life like no technology in history has before! Yes, it's that huge!  

So what makes XR unique? It is simple; it covers the full spectrum of reality, offering experiences that seamlessly blend fundamental and digital elements into a cohesive environment. 

The defining factor of XR is that phenomenal breakthroughs are happening at the convergence of multiple fields. It's an exciting time in the tech industry with a whole new world of possibilities opening avenues for us to explore. 

Seven Reasons why XR is the Next Big Thing 

The game-changing technology promises a future where we can blur the lines between the real and virtual worlds. But it's not just gamers who are developing for XR – brands are taking note too. 

Forecasts project massive growth in AR and VR headset sales in the coming years, with both technologies combined expected to sell over 26 million units per year by 2023. 

Extended Reality (XR) is on its way to mainstream adoption and will fundamentally change our lifestyle. It is a broad term used for technology that includes computer graphics, 3D sound, haptic feedback, GPS tracking of users' positions and a combination of genres such as AR, VR and MR, respectively. 

1. Cutting-edge Technology is the Real-Time Extension of the Digital World

It enables users to experience things that are impossible using standard VR headsets, such as standing in the middle of nowhere and feeling like you are transported to an exotic location. Just like cellular networks have opened new worlds for innovation and enjoyment, XR will bring a unique experience to our lives. 

Combining these applications heralds a revolution in human-computer interaction. This opens new vistas for improving our daily lives, helping us consult with experts from across the globe and accomplish tasks in shorter periods. 

2. Establishing A Strong Foothold With An Experiential Ecosystem 

Think of the future of entertainment as immersive experiences that involve a lot more than just staring at a screen. Whether it's enjoying the richness of a cinematic experience or going snorkeling from the comfort of your home–Mixed Reality glasses bring you closer to the action while gaming, watching movies or learning a new skill. 

Everyone from significant OEMs to start-up 'unicorns' are positioning to stake a claim in the XR arena. 

We're entering the XR commercialization phase. And that's going to create exciting narrative experiences, which will change what we pay for entertainment. The technology capabilities that will emerge soon will lead to much more attractive offerings for consumers and revenue streams in this market. 

3. XR is a Transformative Force for Businesses 

Whether you are currently considering how XR will impact your business or not, the first step in preparing for future realities is to dive into the rich ecosystem of technologies and characters currently defining what's possible. Visitors today can tour places through apps and virtual walkthroughs. This experience is no longer reserved for occasions within physical boundaries. 

Just as the Web and Mobile technologies altered the way we live our daily lives,  

Extended Reality will change how we perceive, interact with, and conduct business. 

By lowering barriers to entry for developing new immersive technologies, XR is fostering entirely new industries. Products and applications that aren't visible today because the supporting technology wasn't available are changing what is possible. 

4. Manufacturing Industry is the Major Target Market for XR 

XR allows companies, organizations or end-users to interact with virtual objects in real-world environments. It merges the virtual and real worlds through a wide range of audio-visual technology such as headsets, projectors, 3D holograms, motion capture systems and advanced software to improve collaboration and creativity. XR helps users develop realistic prototypes that enable them to bring their ideas to life without investing in the actual physical product. 

With XR, researchers and engineers can have a virtual-reality test drive before they build anything. This not only shortens the time from drawing board to prototype but also cuts costs dramatically. Initially, XR will be used in industries that already use CAD (computer-aided design) software to design and produce large, complicated machines. 

5. XR will Come Home Soon 

Wouldn't it be fantastic if you could virtually tour a house and come away with insights about what might be under the patio during a visit? The first two sectors that are going to be affected by immersive technology are entertainment and games. But for me, it is the third sector — three-dimensional home improvement — that will be the killer app for our new reality.  

Home and land usage are affecting the future of living. As our planet warms, home systems will be more energy-efficient and sustainable, reducing carbon emissions and improving global health. The current trend is towards more immersive environments that use technology to improve our lives and interact. The ability to inhabit another person's world via virtual reality will be a game-changer for personal computing. And while it may sound far-fetched, it's not beyond possibility. 

6. XR is Changing The Way We See Things in the e-Commerce Sector creating new paths for marketers 

The technology will allow e-commerce customers to try products on and test them in stores virtually. We're moving from AR/VR to MR, and things are just going to keep evolving! For marketers, it means more opportunities for product promotion through retail display, image marketing, and social media. 

The chance to virtually examine an online product is one of the most game-changing innovations to hit online shopping. Many consumers won't shop online or purchase certain products because they can't interact with the item of interest. This is where virtual marketing comes in. 

Studies show that consumers who can try out 3D models are willing to spend ten times more than consumers who aren't offered the same opportunity. Conversion rates for this kind of call-to-action on landing pages are two times higher than those for static images. 

 7. Rapid Pace of Innovations in the Healthcare Sector 

Extended reality is set to revolutionize the healthcare industry with an estimated worth of $10.82 billion by the year 2026. 

XR is already proving useful in areas such as surgical training, medical education and patient-doctor interaction.  

XR gives those working in the medical field more extraordinary tools to diagnose diseases, train surgeons and provide better care overall. The possibilities for health care are endless across industries such as neurology, pediatrics, and cardiology. 

Wrapping Up 

Extended Reality (XR) is the next big thing that's about to take the world by storm. AR (augmented reality), VR (virtual reality), and MR (mixed reality) may have been around for a long time, but they're about to come into their own and become part of our most intimate experiences. From education to gaming and tourism to shopping, these immersive technologies are already disrupting industries and will change the way we experience everyday life. 

As pioneers in XR, we can say that it is exhilarating to be on the front lines of this industry. Every day brings discoveries and new challenges. And every day brings excellent opportunities: to solve big problems with XR technology; to unlock new revenue streams from XR; to delight and amaze people by reinventing experiences in every sector, and to push the boundaries of what's possible. 

XR will transform how we live, work, play and learn

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