As technology continues to develop at an unstoppable rate. Extended reality provides people with more advancements, allowing them to live more comfortably and efficiently. Many businesses from multiple verticals have benefited from extended reality app development. And the pace at which the Extended Reality (XR) is growing, there won’t be an industry that doesn’t utilize this tech by 2024. Also, with the Covid-19 pandemic where remote work is thriving, XR developers are playing a crucial role in shaping the work culture and the economy.
But first, you need to understand what precisely Extended Reality (XR) is? In which industries will it have the most impact, and what challenges does it pose? Then only with your team of extended reality developers can you develop a future rich extended reality application.
Let’s take a look.
What Is Extended Reality?
VR, AR, and MR all fall under the Extended Reality (XR) umbrella, comprised of augmented reality, virtual reality, and mixed reality, respectively. As a result, these technologies offer users a more engaging experience. As a whole, extended reality software development will grow at a CAGR of 57.91% to USD 397.81 billion by 2026. Let’s examine each existing technology right now to get a better picture of XR.
Now let’s look into the different industries that are fully utilizing XR and benefiting from it. And what are the challenges?
Industries Utilizing Extended Reality
Numerous companies worldwide are already taking advantage of the technology, including entertainment, healthcare, gaming, real estate, retail, and even the military. But can extended reality benefit all of these sectors? First, take a look at some of the successful extended reality applications.
Entertainment
By combining virtual reality and entertainment, XR allows consumers to virtually experience live musical performances and sports events. Video games primarily consume extended reality technology, accounting for 34% of the market. As a result, companies of that kind are doing well commercially, as their success depends heavily on providing a fully immersive experience.
Real Estate
Real estate is another sector that can benefit significantly from extended reality solutions. Using this technology, prospective tenants and customers can view properties without traveling. As a result, all parties involved save time by using it, streamlining the choosing process. In addition, XR technology allows specialists and customers to see each project from a different viewpoint, reducing the risk of mistakes and surprises.
Health
Extended Reality is beneficial in a variety of surgeries. For example, doctors can view extra details about a specific intervention through these extended reality solutions in the operating room. Using this information, they can make a better estimate about how to conduct the intervention and the problems you could encounter. Additionally, modern MRI and CT scans utilize extended reality extensively, and medical imaging is another application of this technology.
Marketing
Marketing is yet another industry that benefits significantly from XR. Organizations use extended reality to entice customers to purchase products and services by using virtual environments immersive marketing techniques. For example, a company can advertise products through XR and provide users with hands-on experiences about their products. Companies can implement this method and spend less on advertising because they can directly tell their customers what the product is like to use, rather than advertising.
Now that you know what industries benefit the most from extended reality. But extended reality developers face their own set of challenges associated with it. With cyber-attacks taking on new levels of vulnerability, the high cost of implementation XR makes it challenging for companies to enter.
Challenges of Extended Reality
The adoption of XR technologies, such as virtual reality (VR) and augmented reality (AR), by consumers and industries, can be very beneficial. However, in addition to all the benefits of XR, there are many potential challenges, and the most prominent ones are:
1- Cost
Companies utilizing XR are primarily challenged by cost concerns as the technology is costly. These are very expensive because many hardware and technologies are used to manufacture them. In addition to its cost, XR has other challenges that since the technology will not be able to expand for being too expensive, it would lead to fewer investors for the tech.
2- Hardware
Another significant challenge that companies face is developing the hardware for XR devices. It is challenging to make hardware due to the wide range of technologies, software, and components. Also, in addition to being robust, the hardware should be compact, and it should be able to process a lot of information swiftly and quickly, and it should be cheaper.
3- Privacy
Another significant challenge that comes with extended reality is the challenge of privacy. Many private details might be required to create an environment tailored to the user’s preferences on XR devices. Companies need to spend a lot of money storing such data making this technology less cost-effective. Also, users worry about the privacy of their information being stolen.
The Future Ahead
With organizations like Meta working on the metaverse, the XR tech won’t be just visuals and audio but will also include the sense of touch. These applications will give haptic feedback like many modern smartphones and game controllers. But the choice is yours as to whether you will use XR technology within your business operations or not.
Many companies already benefit from extended reality, and thousands more are on their way. However, the implementation of XR is still somewhat risky, and it requires significant investment, just like any other emerging technology. Thus, choosing an extended reality app development company with considerable expertise is essential.
Frequently Asked Questions
1. What are XR solutions and how can they benefit my business?
Extended Reality (XR) solutions encompass Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR) technologies that create immersive experiences or overlay digital information in real-world environments. XR solutions can benefit your business by increasing efficiency, enhancing training programs, boosting engagement, and improving productivity. For instance, VR can simulate real-world scenarios for hands-on training without the risks, while AR can provide workers with real-time data to make informed decisions quickly. As noted by PwC, VR and AR have the potential to add $1.5 trillion to the global economy by 2030. Etelligens specializes in custom XR solutions designed to meet your specific business objectives.
2. What types of problems can XR solutions address?
XR solutions can address a wide range of problems across various industries. In training simulations, they provide a safe and controlled environment for employees to practice and hone their skills. For product visualization, XR allows customers and designers to interact with a 3D model of the product, making it easier to understand complex features and make informed decisions. Additionally, XR facilitates remote collaboration by enabling team members to work together in a virtual space, regardless of their physical location, as reported by Forbes, enhancing communication and productivity.
3. What are some real-world examples of successful XR implementations?
Real-world examples of successful XR implementations include retail training programs where employees practice customer service scenarios using VR, medical simulations where surgeons rehearse complex procedures, and industrial maintenance applications where technicians use AR to access repair instructions and diagrams while on the job. Companies like Boeing have reported significant reductions in assembly time and error rates by using AR for wiring harness assemblies. Etelligens has delivered similar successful XR solutions, driving innovation and efficiency in various industries.
4. How much do XR solutions typically cost?
The cost of XR solutions typically varies based on the complexity of the application, the scope of the project, and the chosen platform. Simple AR applications might cost less, while more sophisticated VR or MR experiences with custom content and advanced features can be significantly higher. It's essential to discuss your budget and requirements upfront with potential XR solution providers. Etelligens offers transparent pricing and works to provide cost-effective solutions without compromising on quality.
5. How can I find the right XR solution provider for my needs?
Finding the right XR solution provider for your needs involves researching and evaluating their past projects, industry expertise, and client testimonials. Look for providers with a strong portfolio of successful XR implementations and case studies that demonstrate their ability to deliver results. Assess their expertise in your specific industry and the technologies they specialize in. Client testimonials can provide insights into their reliability and customer service. Etelligens, with its proven track record and commitment to innovation, is dedicated to providing tailored XR solutions that meet your unique business challenges.
6. What is involved in XR development?
XR development involves several key stages to bring immersive experiences to life. Initially, it starts with concept design, where the idea is shaped and the goals are defined. This is followed by prototyping, where a preliminary version is created to test ideas and functionality. Programming is then undertaken using specific languages suitable for VR or AR development. After this, rigorous testing is conducted to ensure quality and performance. Finally, the application is deployed for users to access. Companies like Etelligens, with their comprehensive approach to XR development, ensure each stage is meticulously executed for optimal results.
7. What skills and tools are needed for XR development?
XR development requires a diverse set of skills and tools. 3D modeling is crucial for creating detailed and immersive environments and objects. Programming languages such as C#, C++, and Python are commonly used, particularly within game engines like Unity or Unreal Engine, which are pivotal for XR development. Additionally, knowledge of XR SDKs like ARKit or ARCore for AR development is essential. Understanding user interface design and user experience principles is also vital. Etelligens prides itself on its team's proficiency in these skills and tools, enabling the creation of custom and engaging XR applications.
8. What are the challenges of XR development?
Challenges in XR development include technical limitations, ensuring a seamless user experience, and the complexity of content creation. Technical challenges may include device compatibility and performance optimization. Creating an intuitive and comfortable user experience is vital to prevent issues like motion sickness in VR. Content creation for XR is also complex and time-consuming, requiring detailed 3D models and realistic animations. Addressing these challenges requires a skilled team and a thorough development process, which Etelligens provides to ensure the successful execution of XR projects.
9. How can I find qualified XR developers?
Finding qualified XR developers can be done through various channels. Freelance platforms like Upwork or Toptal can connect you with individual talents. Agencies and development studios specializing in XR, like Etelligens, offer comprehensive services and a team of experts to handle your project from start to finish. When searching, consider the developer's portfolio, experience in your specific industry, and client reviews. Networking at industry events and participating in online XR communities can also lead to valuable connections.
10. What are the key considerations for successful XR development projects?
Key considerations for successful XR development projects include setting clear goals, careful budget planning, and incorporating user feedback. Clearly define what you want to achieve with your XR application, and ensure these goals align with your overall business strategy. Budget planning is crucial to allocate resources effectively and avoid unexpected costs. Regularly gather and incorporate user feedback throughout the development process to ensure the final product meets user needs and expectations. Etelligens focuses on these considerations to deliver XR solutions that are both effective and efficient, ensuring client satisfaction.
