Will 2020 be the year that sectors outside gaming use virtual reality?

Will 2020 be the year that sectors outside gaming use virtual reality?

Food and drink, retail and health are sectors that are likely to use virtual reality (VR) and augmented reality (AR) in 2020. VR may become key in their relationship with consumers, something that has been already been applied by several Japanese sites in the improvement of their gaming services.

Usually when we think of virtual reality we think of somebody using a games console in front of a television screen. However VR and AR have evolved and led them to being used in very different scenarios outside of the domestic gaming environment. VR is synonymous with the gaming industry but in years to come it will be used in other unrelated sectors.

Food and drink, retail and health have discovered that using these technologies can improve the user experience. Some firms have already indicated that they will implement a virtual reality or augmented reality strategy in 2020.

There are many different applications ranging from improving customer service, safety in the workplace or accelerating product development. Estimated expenditure in this sector, amounts to 15,000 million euros in 2022. Of this amount, 76% will be allocated to the development and implementation of hardware solutions, such as equipment and infrastructure.

However high this amount may seem, VR and AR have great growth potential. In November 2019 PwC calculated that augmented reality and virtual reality will have an impact of up to 1.5 billion dollars on the economy globally in 2030 up from the current contribution of 46.4 million dollars.

Both entrepreneurs and big brands are already using these type of technologies to promote sales and stand out from their competitors.

According to the report ‘Experience 2030: The Future of Customer Experience’ by Futurum Research and SAS, 80% of consumers believe that virtual reality will become key in their relationship with brands, to the point of using them daily. It is no longer a matter of mere entertainment but people can already try and buy products using VR.

Tim Ruse, CEO of Zero Latency, said, “What always started being practically entertainment is today a technology that applies to many sectors. I believe that virtual reality still has a great journey ahead and that it can become fundamental in areas such as health, real estate or the military”.

Content is © John Brace t/a Level 80 2021

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