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Will the coronavirus be the booster for AR and VR technologies?

By timlookinar ·
Events such as the "black swan" (including the economic downturn and pandemic) change the direction of politics, economics and business, affect the course of history.

The Black Sea in the 1300s destroyed the feudal system in Europe, replacing it with more modern hiring relationships. Only three centuries later, the deep economic crisis caused by the Hundred Years War between England and France led to a new spurt of innovations that radically modernized agriculture.

There are recent examples. SARS SARS pandemic in 2002-2004 sped up the growth of the small company Alibaba, which traded over the Internet. Now it is a retail leader in Asia. This growth was fueled by anxiety and panic of people who tried to avoid contact with each other as much as possible - almost the same as what we see now.

The financial crisis of 2008 also contributed to new technologies. In Western countries, companies like Airbnb and Uber instantly became popular, because in times of crisis people tried to save on everything: organize co-residence and group for trips.

The video game industry has taken the trend and has also dramatically changed course. In 2011, thanks to Nexon in Asia and King in the West, free games with in-game purchases began to develop rapidly.

With the advent of Covid-19, we already see the first signs of how consumer and company behavior is changing. Airline profits are falling due to the refusal of travel, in retail chains, supplies of medicines, cereals and toilet paper are running out, and work at home is becoming the norm.

Some of these changes are a direct but short-term reaction to the crisis. All this will return to normal after defeating the coronavirus.

However, some changes will remain, creating the basis for long-term innovation, and will dictate the business environment for many years to come. Let's look at three types of innovations that are likely to continue after the victory over the new coronavirus.

Will current situation help new technologies, such as AR and VR to boost and become bigger and more interesting for investors? What do you think?
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Increasing Demand for AR and VR Technology to Boost Market Growth During Co

by Smith987 In reply to Will the coronavirus be t ...

Look at the different industries that have adopted AR/VR during the pandemic to scale their growth in the market.

Healthcare
The spread of Coronavirus has resulted in a steep rise in demand for Augmented Healthcare.

Architecture
Construction companies were one of the first ones to adopt AR/VR for accurately developing their projects. With a combination of digital and physical views, AR provides geographical display, update, and real-time data that offers the users a visual walkthrough of the project.

Education
There has been a surge like never before in online classes all over the world due to lockdown. Most of the schools and colleges have taken resort to online courses to keep their classes going. The primary benefit of VR learning is that it increases student concentration and engagement while studying.

Retail
In the retail industry, augmented reality ensures an enhanced customer experience and maximum relatability with the product.

Tourism
Due to the pandemic, the travel industry has already suffered a huge loss. Travel agencies can promote multiple destinations and inspire their viewers to travel through 360-degree videos and cinematic VR productions.

Through this acquisition, the company aims to enhance its product portfolio and speed up its growth in the global AR and VR market.

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ar and vr technologies

The Covid-19 pandemic has turned the world upside down. Yet the virus has initiated perhaps the first stage of a good behavioural change. The lockdown in place today is unprecedented, yet its timing is fortuitous. Work in technologies like AR/VR/MR allows people to shop, talk, and socialize using these immersive platforms.

These technologies are affordable and readily available. Though people cannot satiate their social instincts in person with them, they can fulfil them virtually. The Covid-19 pandemic has likely given rise to a new phenomenon wherein many more will become reliant on tools like AR, VR, and mixed reality to work and shop.
The time is right to scale these technologies. AR, VR, and mixed reality aren’t science fiction; they are fully developed technologies that are as reliable as laptops and smartphones. The only thing missing for their widespread adoption was an impetus to meet and shop in virtual worlds. That impetus has come with the COVID-19 pandemic and ensuing lockdown.
Companies are catching on to consumers preferences by serving them virtually. Virtual events and conferences are happening with increasing frequency. Activations, product launches, and brand awareness campaigns are now hosted as live virtual events where thousands of people engage and interact.

The frequency with which virtual events, conferences, product launches, and showcases happen online is likely to increase. A simple reason for this is that the Covid-19 pandemic is causing a behavioural change that will outlast the virus itself. It has given marketers a reason to explore these tech enabled platforms and realize their fullest potential.

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