A cutting-edge trend in today’s digital world has been advanced in Virtual Reality (VR). Previously seen as a lucrative market of untapped opportunities, augmented and virtual reality apps initially drew interest from entrepreneurs, enterprises, and investors. In the last couple of years, though, these tools have been able to extend their reach to mass markets on a global scale and remain one of the most sought-after tech trends of 2019.
Enabling users to have complete, immersive experiences of their favorite games, places, and practices, VR provides access to advanced simulations that are paired with combinations of sensory responses.
Major industries that have explored and capitalized on VR apps in the US and UK markets include the gaming, entertainment, social media sectors, education, healthcare, sports and fitness, fashion & beauty industry, real estate, manufacturing, automotive, and FMCG & retail stores. Examples of some renowned companies in this space include Samsung offering its VR Gear, Facebook with its Oculus Rift, and Google with its Daydream and Cardboard apps.
The increase in market demand for integrating VR into their applications is validated by the 33.47% expected growth rate to reach a value of $44.7 billion by 2024, as reported in a Global Forecast conducted by Research and Markets.
Given the prevalence of VR in digital markets, we examine how mobile app companies are navigating this industry and highlight the key benefits of integrating VR apps to transform and elevate businesses this year.
Increased Accessibility of VR Apps
Firstly, by introducing apps and corresponding compatible gear, virtual reality (VR) companies are expected to close the gap between different types of consumers, thereby increasing the number of users in markets.
As premium brands continue to lead the movement towards this shift, everyday brands that are relatively more accessible to mass populations are equally driven to take advantage.
When common brands such as eBay and Walmart begin to probe into this field, as they have already, the demand for VR apps is only expected to grow as their reach continues to expand.
Creating Immersive Experiences
Closely related to the previous point is the fact that VR apps promise a better experience of the digital world.
With unparalleled user experience being the ultimate business goal, the deliverance of highly interactive virtual encounters isn’t something that futuristic businesses can stay away from.
From acquiring hands-on training through improved learning experiences to staying better connected with fellow gamers, friends, and colleagues, VR apps are keeping users engaged and interested like never before.
Interactive Marketing and Brand Building
In addition, these apps have been gaining quite a reputation as a tool to drive brand awareness and customer loyalty and build better marketing campaigns.
In the past couple of years, leading businesses have been spotted hosting VR events through their web or mobile apps. More often associated with seasonal or social occasions, such events have been useful in encouraging customer engagement as well.
For instance, the New York Times VR unit allowed users to experience some of their reporters’ moving stories firsthand—a unique experience certainly not easy to forget.
Such campaigns work especially well when designed to boost both online and offline traffic. By accomplishing the right combination of graphics and VR tech, businesses can launch interactive marketing campaigns that successfully differentiate them from competitors.
Increased Efficiency & Productivity
Increased efficiency through effective communication among people is another area that has profited from the emergence of VR.
Facebook is an example of a well-known company that has held several VR conferences, meetings, and workshops for audiences outside and inside the company in the past couple of years.
This helps business units stay efficient by minimizing required travel expenses and time - two key resources that most of us can never have enough of - without compromising on experiential quality.
In fact, conference apps that provide various features, such as expressive emoticons, voice chat, instant messaging, and real-time collaboration, have been a popular trend relevant to app development companies that aim to boost effective interaction between participants.
That said, enhanced communications is only one of the many ways that VR apps contribute to an organization’s efficiency. Other areas include, but are not limited to: cutting production and/or service costs through building virtual prototypes, for instance, making the most of employee productivity through low-cost training and better investments of time, and a superior delivery of information with shareholders that promotes transparency and learning.
Flawless UI/UX
Complete business success and popularity are no longer just a matter of a positive bottom line in financial reports, regardless of the industry. Instead, business success in this era is all about the consumer and how they feel interacting with your brand. An increasing number of firms have attributed their success stories to prioritizing the quality of goods or services and making customer experiences more memorable.
In today’s digital world, this translates to developing websites and apps that are quick to respond and easy to navigate. In other words, if your website or mobile app has a bug or glitch, takes longer than about twelve seconds to load, or includes what might seem like an abundance of unnecessary information for most users, then it is likely to result in dissatisfied consumers.
Most VR apps provide the perfect solution to these common problems by offering flawless user interfaces (UI) and user experiences (UX), with customized features that allow for uninterrupted simulations and interactions.
The rise of VR technology is an irrefutable fact that accurately describes today’s digital markets and tech trends. Futuristic businesses are following suit as relevant industry leaders, like Microsoft, Samsung, and Google, strive to incorporate VR into their services. Common benefits and uses of VR for businesses include being able to provide unique user experiences with improved UI/UX features, crafting creative marketing campaigns, and furthering efficiency between and among key stakeholders. Based on these trends, app development companies are expected to experience a surge in VR app creations this year. The future belongs to app developers who are able to integrate VR technologies to successfully meet business needs.
Conclusion
The rise of VR technology is an irrefutable fact that accurately describes today’s digital markets and tech trends. Futuristic businesses are following suit as relevant industry leaders, like Microsoft, Samsung, and Google, strive to incorporate VR into their services. Common benefits and uses of VR for businesses include being able to provide unique user experiences, crafting creative marketing campaigns, and furthering efficiency between and among key stakeholders. Based on these trends, mobile app development companies are expected to experience a surge in VR app creations this year. The future belongs to app developers who are able to integrate VR technologies to successfully meet business needs.
