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Demand for VR and AR has shifted from the consumer market to the corporate sector (Fortune 500). Technologies are being used in medicine to reduce contact, in education for interactive learning, and in retail. Brands such as IKEA, Gap, Amazon, Sephora, and Ulta use AR for product visualization and cosmetics testing. Mastercard has also launched a banking application with augmented reality.
Videoconferences have become the primary way to hold meetings with colleagues and friends. This can have a significant impact on the VR (virtual reality) and AR (augmented reality) industries.If you have been following the AR/VR market to some extent, it might seem that demand has cooled off recently. A few years ago, news about VR gaming headsets, such as Oculus and Vive, was everywhere; Pokémon Go was at its peak popularity; and virtual concerts and sporting events were just around the corner. Has VR gone the way of Segways and Vine? Not exactly. The target audience for VR and AR has shifted — they are now used not in consumers' homes, but in laboratories and production facilities of Fortune 500 companies.There are many fields where AR can be an extremely useful technology. For example, it can help medical professionals perform their duties during the pandemic. The BBC reported on an application that helps reduce physical contact between doctors and patients while allowing them to communicate with colleagues outside the COVID-19 treatment zone. A doctor wearing an augmented reality headset can interact with medical content, such as X-rays, scans, or test results, using hand gestures, while others can participate in the consultation remotely. The article notes that this method of work also reduces the need for personal protective equipment (PPE).Remote learning and improvised homeschooling also require digital tools that allow students to stay connected, interested, and motivated. With AR, even theoretical materials like the periodic table take on a new look, as students can interact with molecules. In Japan, an augmented reality card game is already being used to teach programming.While rational consumption and online shopping have taken over during the coronavirus pandemic, brands need to find a way to make the online experience more emotional. According to IBM's 2020 U.S. Retail Trade Index report, the pandemic accelerated the shift to digital shopping by about five years. Augmented reality is one of the few tools that can turn digital products into living objects. There are many examples of successful AR integration in online stores: brands like Gap and IKEA have had their own mobile AR applications since 2017, allowing customers to view and compare their products. Amazon AR View allows users to measure free space in their apartment and choose suitable furniture.In response to the pandemic, cosmetic retailers such as Sephora and Ulta have banned customers from physically testing cosmetics on their skin. Instead, retailers are turning to AR to help customers test thousands of cosmetic products digitally. The GLAMlab virtual makeup testing tool, released by Ulta four years ago, has seen widespread use since the pandemic. App engagement has grown sevenfold, and more than 50 million digital foundation shade swatches have been made.Essentially, any physical product can be converted into a virtual model and placed in a mobile augmented reality store. But the enhanced e-commerce experience is not limited to physical objects — it allows creating additional layers of reality that you can fill with any type of content. For example, in 2020, Mastercard announced the launch of a new augmented reality personal banking app that will allow you to track your spending, savings, and other payments in various themed rooms.
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