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Published on: June 14, 2021 / Update from: October 27, 2021 - Author: Konrad Wolfenstein
Extended Reality potentials and areas of application
In Europe, the extended reality XR market is forecast to reach $50.55 billion by 2026, with XR use cases expanding and evolving as companies realize its full potential. For European nations, VR is also predicted to bring economic benefits. Germany is forecast to see a gross domestic product increase of $29.8 billion by 2030, while the UK is expected to see a gross domestic product increase of $20.1 billion from VR technology. In addition, more than 400 thousand jobs will be created by VR/AR in both Germany and the UK by 2030, an increase on the 10 to 15 thousand jobs created by XR in each of these countries in 2019.
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- The Power of Xtended/Extended Reality – Short insight
- Continuous improvements and further developments in extended reality
Extended Reality (XR) is an emerging umbrella term for all immersive technologies, including Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR), as well as those yet to be created. Immersive or XR technologies expand the reality we experience by either merging the virtual and “real” worlds or creating a fully immersive experience. These technologies are expected to become as prominent as mobile devices are in the market today.
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With the corona pandemic, three new areas of application for XR technology came to the fore:
- Virtual showrooms
- Virtual Fairs
- Virtual events & meetings
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- Current status of Virtuality (Digital Showroom & Virtual Fairs)
- Augmented reality in the digital-physical world
- Extended Reality (XR) Library (PDF)
Leading XR/AR/VR/MR applications in the manufacturing industry
Leading Applications of Immersive Technologies in Manufacturing: Real-time remote assistance, instruction and feedback to employees will be one of the top applications of immersive technologies in the next two years, according to 75 percent of XR industry experts who responded to the 2020 U.S. survey be manufacturing sector.
Which of the following new applications/solutions can we expect from immersive technologies in the manufacturing sector in the next two years?
- 75% – Remote support, instructions and real-time feedback for employees
- 48% – Training of the workforce
- 45% – Reduction in assembly errors
- 45% – Improve supply chain management
- 43% – Remote inspection and maintenance
- 40% – Preventing accidents (improving employee safety)
- 35% – Design and prototyping of products
- 33% – Managing inventory
Top XR/AR/VR/MR applications in smart cities
Leading Applications of Immersive Technologies in Smart Cities: Improvements in navigation solutions and urban planning are the top applications of immersive technologies in smart cities, according to 57 and 44 percent of XR industry experts, respectively, in a 2020 survey.
What are some of the top applications of immersive technologies in smart cities?
- 57% – Navigation solutions
- 44% – urban planning
- 44% – Intelligent traffic signals and camera monitoring to control traffic flow
- 43% – Smart parking
- 42% – Intelligent building management systems
- 37% – Disaster response and recovery
- 16% – Police training
- 10% – Veterans Services
- 1% – Other
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Leading XR/AR/VR/MR applications in the education sector
Leading Applications of Immersive Technologies in Education in the Next Two Years According to XR/AR/VR/MR Industry Experts in the United States in 2020
Which of the following new applications/solutions in the education sector can we expect from immersive technologies in the next two years?
- 66% – Immersive teaching experience (e.g. teaching immersive and interactive digital content)
- 57% – Developing soft skills (e.g. collaboration, teamwork and problem solving)
- 55% – Creating interactive 3D models for learning (e.g. creating 3D planetary models to study astronomy)
- 49% – exploration expeditions (e.g. virtual trip around the world through time)
- 40% – Recreation/simulation of past experiences for new learners
- 32% – Individualized learning (e.g. learning tools for students with special needs)
- 26% – Facilitating self-directed learning
- 2% other
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Leading XR/AR/VR/MR Applications in Healthcare According to XR Experts
Leading Applications of Immersive Technologies in Healthcare in the Next Two Years, According to XR/AR/VR/MR Industry Experts in the U.S. 2020 be one of the most important applications for immersive technologies in healthcare.
In which areas is extended reality used in healthcare?
- 68% – training simulations (e.g. for training surgeons)
- 56% – Assisted operations
- 53% – Researching diseases like cancer in 3-D
- 46% – Treatment of vision problems
- 43% – Pain management
- 42% – Emergency navigation (e.g. health apps that benefit from navigation and geolocation features)
- 40% – Assessment and treatment of mental illness
- 31% – Improvement in sleeping habits
- 26% – Promote a positive social environment for neuroatypical people
- 1% – Other
Use of virtual/augmented reality in healthcare organizations
A survey was conducted in the US among the one-third of C-suite executives who said virtual/augmented reality would be used in their healthcare organization in 2019. AR/VR implementation reached 36 percent in high-end organizations surveyed.
The survey surveyed 100 C-suite executives from healthcare organizations with annual revenue between $250 million and $3 billion. The healthcare organizations surveyed included hospitals, academic medical centers, physician groups, ambulatory and surgical centers, long-term and post-acute care, home health care, and hospices.
- Lower market: $250 million to $750 million
- Upper market: $751 million to $3 billion
Proportion of respondents
- 30% – Lower Market
- 36% – Upper Market
- 33% – All respondents
Current PDF libraries to support your further strategic planning and activities
We provide you with further numerous insights into numbers, data and facts that can help you optimize and expand your strategic goals:
- Customer Demographics Library – Demographics Knowledge Base (PDF)
- Online Marketing Library (PDF)
- E-Commerce Library – Knowledge Base (PDF)
- Social Media Marketing Library – Knowledge Base (PDF)
- SEO Library – SEM knowledge database (PDF)
- Search Engine Advertising / SEA Library – Search Engine Advertising Knowledge Base (PDF)
- Extended Reality (XR) Library (PDF)
That’s why Xpert.Digital for Munich and Stuttgart! – Virtual Showroom, Augmented, Mixed & Extended Reality Agency
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You can contact me by filling out the contact form below or simply call me on +49 89 89 674 804 .
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Xpert.Digital – Konrad Wolfenstein
Xpert.Digital is a hub for industry with a focus on digitalization, mechanical engineering, logistics/intralogistics and photovoltaics.
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