After the successful application of the extended reality (XR) headset Apple Vision Pro, which has caused quite a stir, it seems companies are getting ready to spend more on extended reality than ever before. according to New report From ABI Research, The extended artificial reality market will reach a total turnover of $60 billion by the end of the decade.
For those who don’t know, it is Extended reality (XR) is an umbrella term Includes Augmented Reality (AR) and Virtual Reality (VR) and mixed reality (MR). It is a technology to combine virtual and real elements to create an immersive user experience.
This comes after about five years of steady market growth as more companies look to invest in the technology, made popular by products like Microsoft’s Hololens.
Eric Abbruzzis, director of research at the company that published the report, explains the benefits of using this emerging technology:
XR training deployments show significant improvements in key performance metrics such as retention and training frequency, while improving user experience and content satisfaction
Abbruzzese also explains how training can be delivered faster when companies invest in VR.
While Apple’s Vision Pro headset is primarily aimed at consumers (although it can run some professional applications), A new business-oriented market is developing With new options available to companies looking to implement a fleet of extended reality headsets.
In the same week as Apple’s announcement, HTC Vive’s virtual reality division announced a Business Edition version of its headset, which costs nearly half the price of its Apple counterpart.
The ABI Research report also addresses cost issues, particularly with regard to upfront expenses. If companies have to shell out large sums of money not only for headsets, but also for developing appropriate training materials,”Once the solution is in place, the value is undeniable“.
Over time, the price of XR technology should come downbut in the meantime, companies willing to invest in software and hardware development for this new type of platform would be well-positioned if the market made it happen.