Whitepaper Disrupting Reality – Augmented Reality in the Enterprise

Readers may be interested in a Whitepaper by Cognizant Reports which offers information on Augmented Reality in the enterprise, and advice on how to navigate its integration.

Important research and key points included in the article are listed below:

• ARVR hardware and software will strengthen connections and interactions between enterprises and employees, as well as enterprises and consumers
• Virtual work areas could be created with real-time access to enterprise data
• Customers could use head-mounted displays to explore products and services in a fully immersive virtual environment
• Companies will need to address important issues such as the high cost of head-mounted displays, a fragmented developer market, the lack of industry standards, etc.
• Since October 2015, the ARVR market saw six consecutive quarters of investment growth
• A recent report by Goldman Sachs predicted that the ARVR hardware market will reach $80 billion by 2025
• Citibank forecasts that the VR hardware, networks, software, and content market will reach $200 billion by 2020
• The alternative reality market involves many players whose efforts bode well, although it is difficult to tell which will emerge as leader
• Virtual Reality enables people and facilities to be remotely monitored and attended to in real time
• Disadvantages of VR include = having to remain in place while using a VR device, nausea and motion sickness being a side effect of using VR devices
• Unlike VR, AR headsets allow a continuous view of the virtual and the real world so the user can move while using an AR device
• ABI Research has predicted that AR headsets will generate $46 billion by 2021, although VR will only generate $15 billion
• A survey by Tech Pro Research from earlier this year showed that 48% of respondents are considering adoption of VR, and 67% are considering adoption of AR
• Research from Iowa State University showed that users instructed via AR found a 90% decrease in errors when assembling a mock airplane wing
• The Ford Motor Company used VR demos and found a 70% reduction in worker injury rates, as well as a 90% decrease in ergonomic faults
• Goldman Sachs Global Investment Research found that the revenue prediction for ARVR in video games is $11.6 billion, as well as $4.7 billion in engineering, and $5.1 billion in healthcare
• Barriers in the way of ARVR growth include price and apps, user experience, and standards

The final advice given to companies expanding in terms of technology includes:

o Create the necessary infrastructure
o Create a supportive ecosystem
o Incorporate the best approach for ARVR
o Manage change
o Address data privacy and security