October 18, 2021 10:48 AM

5 Real-World Applications of Extended Reality Technology

5 Real-world Applications of Extended Reality Technology

What if you can walk on the moon, visit The Great Wall of China, or virtually try on products all from the comfort of your home? Sounds unbelievable? But, thanks to Extended Reality (XR), all of this is possible. People often perceive "Extended Reality" as a sci-fi concept in Hollywood movies or a tool to improve the gaming experience. However, XR technology is making its mark in several industries, and the number of immersive technology users is increasing at a healthy rate. In fact, a study estimates 57.4 million people use VR and 90.9 million use AR. These numbers are expected to grow further in 2022 due to technological advancements and enhanced software. Read on to know more about extended reality technology and its applications.
What is Extended Reality?
Before we delve into the applications of XR, it is vital to know the basics about extended reality. Extended reality is an umbrella term that encompasses present immersive technologies like Augmented reality (AR) and Virtual reality (VR).
These technologies act as a bridge between the virtual and the physical world, combining real-world and virtual elements to heighten the user experience. By incorporating XR in your business, you can present an engaging, interactive environment to take engagement to the next level.
5 Real-World Application of XR
Check out these real-world applications of XR technology:
1. Training
XR technology facilitates a safe training environment where people can train, gain valuable experience, and sharpen their skills without worrying about the real-life consequences. With XR, you can simulate high-risk scenarios such as flight training, military encounters, fighting fires, responding to accidents, surgeries, etc., to effectively train people with relatively low-risk and lower costs. Seeing interactive 3D image projections and experiencing immersive simulations helps learners better understand the concepts/process.
Furthermore, extended reality can put an end to lengthy on-job training periods. Utilizing XR technology for corporate training can significantly reduce the training period as the employees learn faster and are more actively involved in training activities with immersive technologies.
Training with XR is low-risk, cost-effective and studies show it can produce better retention rates.
2. Health Care
The healthcare industry can benefit immensely by adopting XR technology. Sure, it is in the early stages, but XR has the potential to transform many aspects of health care, such as surgeries, therapy, diagnosis, patient well-being, and more. Medical students can better learn anatomy with visuals, practice surgeries in a safe environment using XR. With the widespread adoption of XR technology for medical training, a study predicts the global XR healthcare market value will reach $16.2 billion by 2027. Also, XR can help doctors better visualize and analyze medical data.
Further, XR can be used to calm and reassure patients before treatment. For instance, a pharmacy chain- Hermes Pardini launched a VR project in Brazil to help children overcome their fear of vaccines. The project involves the kids wearing a VR headset and watching a 3D animated adventure. This project was so successful, Hermes Pardini decided to use VR in all its pharmacies to calm and reassure children prior to administering vaccines, thus resulting in hassle-free vaccinations.
3. Education
The education industry was quick to realize the potential of XR technology and adopted it in the teaching process. Incorporating XR in the education process makes learning immersive, fun, and interactive. With visualized learning and life-like simulations, students can grasp complex concepts with ease and retain information for a prolonged period to achieve high scores.
Distance learning had its drawbacks even before the COVID-19 pandemic. However, post pandemic, and with travel restrictions, many schools and students switched to distance learning. Thanks to XR, students will still experience a quality classroom experience. XR can overcome the lack of practical elements in online education as it promotes a practical, hands-on learning approach.
4. Marketing & e-Commerce
The post-pandemic world has seen a rise in online shopping as "more and more" people no longer want to go to stores to buy products. However, there are drawbacks to shopping online. For example, ordering clothing online and selecting the proper size, fit, and look can be challenging and lead to a frustrating consumer experience. Extended reality enables marketers to offer their customers a "try before you buy" experience. Allowing customers to try on products prior to purchasing creates a more enjoyable and hassle-free shopping experience, thus improving customer satisfaction. For example, IKEA got into the XR game early with their IKEA place app that allows you to 'virtually place' furniture in your house so you can ensure it is the perfect design and size.
5. Entertainment
The entertainment industry was one of the first to tap into the powers of XR technology. The world has seen some great XR-based applications like the Pokemon Go game that made everyone get out of their homes in the hunt for Pokemon or the Snapchat AR filters. XR technology allows users to dive into new realities and takes the entertainment and gaming experience to unprecedented levels. Some sports channels have adopted XR to analyze the game and provide better insights to the audience. As a frontrunner of XR usage, it is safe to bet the entertainment industry will continue to produce new and exciting XR applications.
Concluding Thoughts
XR technology is very underrated and often written off as too expensive. However, XR has the prowess to transform diverse industries. With technological advancements and 5G technology gaining prominence, prices of XR equipment expect to drop, and drawbacks of XR being quickly resolved; what are you waiting for? There has never been a better time to consider incorporating XR into your business.
Want to jump on the XR bandwagon? At HoloPundits, we have a team of experts in immersive technology solutions. Customer satisfaction is at the heart of our team, we promise to work with you to understand your requirements and simplify your process by developing cutting-edge, cost-effective solutions.

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