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After VR, AR And MR, The Era Of Expanding Reality Is Coming Soon
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After VR, AR And MR, The Era Of Expanding Reality Is Coming Soon

You've heard about virtual reality, a display device mounted on the head that immerses users in a visual world. You've heard about augmented reality, where users wear glasses or other devices to project images in front of them, but still see the real objects around them.

You may have heard of mixed reality, the fusion of the real world and the virtual world, where physical and digital objects coexist and can interact. You may have heard of 360-degree video—using an omnidirectional camera or a set of cameras to simultaneously record views in all directions.

But it's quite possible that you haven't heard of augmented reality, which combines virtual reality, AR, MR, and 360-degree video in one medium. XR allows us to see what the different colors of the car might look like when looking at the actual car at the dealership.

But is XR a new customer experience? According to a recent panel of experts at the Money20 / 20 show in Las Vegas, the answer is yes.

XR: The market share reached 110 billion yuan before 2025?

According to a recent Goldman Sachs presentation, open market participants and venture capitalists will help build XR, a technology that is described as a platform that combines virtual reality and augmented reality. The presentation said that XR will redefine the way people interact with technology - the way it has not been imagined - that could represent a $110 billion market by 2025.

Cleveland Brown, CEO and co-founder and group leader of PayScout, a global payment processing provider, compared the dawn of today's customer experience technology with the establishment of e-commerce when Amazon began selling books online in 1994.

“This is not a question of 'if', but a question of 'when',” said Stephanie Llamas, vice president of marketing research at superdata strategy and head of xr, a market intelligence provider.

Llamas pointed out that xr has both client applications and enterprise applications. In the customer value chain, XR will be used for marketing, e-commerce and business development support. In the enterprise value chain, it will be used to design, operate, learn, develop, insight and digitize the workplace.

The unique advantages of XR

“Any design can be virtualized,” said Raffaela Camera, global head of XR market and innovation strategy at Accenture, a management consulting firm. According to Camera, XR reduces design costs and provides a new way to solve challenges and sell products.

Camera says XR also enables digital workers to point to glasses that allow workers to view digital information in their sight.

“We will learn in different ways,” she said. And added that people will be able to view data in a new three-dimensional model. You can really observe the digital cluster and move between them."

"It will be seamless, it will be integrated into what you are already doing," said Brown, who saw XR play a role in the self-service environment.

"This is reality, it's coming soon," Brown said, challenging the audience and considering whether they should have an XR development strategy.

VR, AR and MR

With the advent of XR, more mature immersive technologies - VR, AR and MR - continue to expand.

Brown showed off a video of his company's VR business app, which not only allows shoppers to access virtual stores and explore 3D products, but also immerses them in the story behind the product. He said that these experiences have established links with customers so they can make purchases without friction.

According to the Business Intelligence report, Mobile AR (Mobile Augmented Reality), which combines online and in-store shopping experiences, is one of the fastest growing technologies in the retail industry.

The technology that Llamas calls "transformation" will almost catch up with VR in 2020, both markets surpassing $10 billion. SuperData reported that mobile AR will double by 2019. In 2021, Mobile AR will surpass VR at $17.4 billion, reaching $14.5 billion.

Llamas said that VR headsets will no longer dominate the immersive technology market. She showed a slide showing the dominant position of virtual reality in the global market in 2018, which is $3.3 billion, while mobile AR is $1.9 billion and enhanced/mixed reality headsets are $100 million. Lamas said that smartphones capable of carrying AR will drive the development of mobile AR.

According to Llamas, another driver is a location-based VR workstation that allows users to experience VR without having to buy a headset. With powerful system features and rich intelligent interactive applications, the 56iq digital signage is the first choice for creating an interactive user experience, with the number of installations leading the industry. According to SuperData, site-based VR entertainment will double in the next three years.

Brown agrees that his company has discovered site-based VR and has achieved success. A furniture retailer is able to turn 60% of site-based VR users into customers with real buying behaviors, an achievement he calls "amazing."

At the same time, VR games will continue its rapid expansion.
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