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Virtual Showroom, Augmented, Mixed & Extended Reality - Image: Ahmet Misirligul|Shuttestock.com

Virtual Showroom, Augmented, Mixed & Extended Reality – Image: Ahmet Misirligul|Shuttestock.com

Extended Reality Potentials and Application Areas

The Extended Reality (XR) market in Europe is projected to reach $50.55 billion by 2026, with XR use cases expanding and evolving as businesses recognize its full potential. VR is also projected to bring economic benefits to European nations. Germany is forecast to see a GDP increase of $29.8 billion by 2030, while the UK is expected to see a $20.1 billion increase in GDP due to VR technology. Furthermore, more than 400,000 jobs are expected to be created by VR/AR in both Germany and the UK by 2030, an increase from the 10,000 to 15,000 jobs created by XR in each country in 2019.

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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 augment 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 today's market.

 

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The Corona pandemic brought three new application areas of XR technology to the forefront:

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Leading XR/AR/VR/MR applications in the manufacturing industry

Leading XR/AR/VR/MR applications in the manufacturing industry – Image: Xpert.Digital

Leading applications of immersive technologies in the manufacturing sector: Real-time remote support, as well as instructions and feedback for employees, will be one of the most important applications for immersive technologies in the manufacturing sector in the next two years, according to 75 percent of XR industry experts who participated in the 2020 survey in the USA.

Which of the following new applications/solutions can we expect to see in the manufacturing sector in the next two years in the form of immersive technologies?

  • 75% – Remote support, instructions and real-time feedback for employees
  • 48% – Staff training
  • 45% reduction in assembly errors
  • 45% – Improvement of supply chain management
  • 43% – Remote inspection and maintenance
  • 40% – Accident prevention (Improving employee safety)
  • 35% – Product design and prototyping
  • 33% – Inventory management

Top XR/AR/VR/MR applications in smart cities

Top XR/AR/VR/MR applications in smart cities – Image: Xpert.Digital

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 surveillance to control traffic flow
  • 43% – Smart Parking
  • 42% – Intelligent building management systems
  • 37% – Disaster relief 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 XR/AR/VR/MR applications in the education sector – Image: Xpert.Digital

Leading applications of immersive technologies in the education sector 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 to see in the next two years thanks to immersive technologies?

  • 66% – Immersive learning experience (e.g., delivery of immersive and interactive digital content)
  • 57% – Development of soft skills (e.g., collaboration, teamwork and problem-solving)
  • 55% – Creation of interactive 3D models for learning (e.g., creation of 3D planet models for studying astronomy)
  • 49% – Exploration expeditions (e.g., virtual world tour 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 XR/AR/VR/MR applications in healthcare according to XR experts – Image: Xpert.Digital

Leading applications of immersive technologies in healthcare in the next two years, according to XR/AR/VR/MR industry experts in the US in 2020. Training simulations will be one of the most important applications for immersive technologies in healthcare in the next two years, according to 68 percent of the XR industry experts who participated in the 2020 survey.

In which areas is extended reality used in healthcare?

  • 68% – Training simulations (e.g. for the training of surgeons)
  • 56% – Assisted surgeries
  • 53% – Research into diseases like cancer in 3D
  • 46% – Treatment of visual impairments
  • 43% – Pain management
  • 42% – Emergency navigation (e.g., health apps that benefit from navigation and geolocation features)
  • 40% – Assessment and treatment of mental illnesses
  • 31% – Improvement in sleep habits
  • 26% – Promoting a positive social environment for neuroatypical people
  • 1% – Other

Use of Virtual/Augmented Reality in Healthcare Organizations

Use of Virtual/Augmented Reality in healthcare organizations – Image: Xpert.Digital

A survey conducted in the US found that among the one-third of C-suite executives who reported using virtual/augmented reality in their healthcare organization in 2019, AR/VR implementation reached 36 percent in the surveyed top-tier organizations.

The survey polled 100 C-suite executives from healthcare organizations with annual revenues between $250 million and $3 billion. The organizations surveyed included hospitals, academic medical centers, physician groups, outpatient and surgical centers, long-term and post-acute care facilities, home healthcare providers, and hospices.

  • Lower market: US$250 million to US$750 million
  • Upper market: US$751 million to US$3 billion

proportion of respondents

  • 30% – Lower Market
  • 36% – Upper Market
  • 33% – All respondents

That's why Xpert.Digital is the right choice for Munich and Stuttgart! – Virtual Showroom, Augmented, Mixed & Extended Reality Agency

Konrad Wolfenstein

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Xpert.Digital – Konrad Wolfenstein

Xpert.Digital is a hub for industry focusing on digitalization, mechanical engineering, logistics/intralogistics and photovoltaics.

With our 360° Business Development solution, we support renowned companies from new business to after-sales.

Market intelligence, smarketing, marketing automation, content development, PR, mail campaigns, personalized social media and lead nurturing are part of our digital tools.

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