We are living in a digital age that is gradually and steadily moving towards the fourth industrial revolution, or Industry 4.0, which advocates smart interaction between sensors, software, and hardware. Of these areas, the ones that seamlessly integrate the physical worlds seem to be the most suitable to help navigate the challenges posed by the ongoing pandemic and that is augmented reality & virtual reality.
The need for Virtual reality (VR) and Augmented Reality (AR) is felt more during the global health crisis. It is not an exaggeration to say that these virtual technologies have brought people closer to technology during these troubling times when social distancing is imposed everywhere for a better product experience which was not possible otherwise.
The healthcare sector is one of the early adopters of AR and VR in medical training, education, and treatment. They help young surgeons to have a crystal clear view of human anatomy, tissues that are not directly visible, imparting them the confidence to perform surgeries independently, reducing the dependence on chief surgeons. As the technologies are immersive and exciting there is no room for distractions and makes the trainees focus on the task at hand. This makes the technologies useful in all types of training scenarios.
The Virtual Reality Landscape
Virtual Reality (VR) makes use of audio and video to create a magic spell of fantasy by creating a digital environment that is very akin to reality, covering 360 degrees of vision.
In the medical field, it finds application in telemedicine and home-based care. These applications have a potentially enlarged scope shortly. It is also used in manufacturing for chimeric antigen receptor (CAR) T-cell therapy.
It has been forecasted that the healthcare & life sciences virtual reality market will soar to reach USD 8.03 billion by 2027, with a CAGR of 16.21%. With the promising signs of growth in a health care market, insurers also use virtual reality to showcase users on how they might look if they followed a particular diet regimen.
The Augmented Reality Landscape
AR unlike its counterpart VR doesn’t offer a digital environment making the user temporarily blind to the immediate environment. Instead, computer-generated information is overlaid or added to the real-world experience that users can interact within an augmented world.
In the healthcare industry, Augmented reality is used to generate 3D models of human organs in ways not otherwise possible. Medicos can interact, examine, cut, and experiment with these projections. With augmented reality-based medical training, every physician learns something useful individually from remote locations.
The augmented reality (AR) market is projected to grow from USD 15.3 billion in 2020 to USD 77.0 billion by 2025; it is expected to grow at a CAGR of 38.1% from 2020 to 2025.
AR/VR technologies when used hand-in-hand can work out wonders and offer benefits that we never thought of before. We can empower the energy of the classroom, offer remote healthcare, etc. VR and AR are striving to find new avenues to help reconnect co-workers, customers, and industry innovators around the world.
If we leverage the hidden potential, it could have everlasting implications in our subconscious minds.
“ Companies, big or small, have opened up for AR/VR investments. Some renowned companies like Playstation, Steam, and Valve are known to be the early adopters of VR and AR technologies and the list grows. On the other hand, the demand for VR/AR skills is skyrocketing.
AR and VR are becoming mainstream with the proliferation of connected devices. Currently, the applications of AR and VR are mainly seen in the Gaming, Entertainment, Marketing, Education, Fashion, and Art industries. Today to live without Internet is unimaginable and in the future, this statement may changes as living without AR/Vr applications couldn’t be possible! “