Did you know that Augmented Reality (AR) and Virtual Reality (VR) debuted as tools for military training? Well, that was back in the 1980s when the first-ever VR flight simulation was used to train pilots in the Air Force. Nonetheless, no one can deny that the gaming industry is significantly responsible for expanding the concept of AR/VR.
With billions of active gamers demanding immersive experiences, the AR/VR space proved itself as the key to discovering new realities in gaming. Remember Virtuality, the first-ever VR gaming system? That was only a glimpse of the future, as titles like Pokemon Go, Minecraft Earth, and Ingress have since revealed that AR/VR can deliver the unimaginable in the gaming world.
What is Fueling AR/VR Innovation?
When it comes to the AR/VR industry, countries like China, the US, South Korea, England, Japan, and Thailand/Vietnam lead the pack. However, players like Canada have also set their mark in this innovative space. Hosting over 350 AR/VR companies and an anticipated 5.3 million users, the Canadian AR/VR market is expected to hit $1.3 billion by 2029. What’s more impressive is that the country’s gambling sector has proved to be a key driver of AR/VR growth.
For instance, when you look at the best online casinos in Canada, not many miss the mark in delivering lifelike realism in their casino gameplay. More specifically, their live casinos are famous for bringing the thrilling casino floor action right to their doorstep. Whether you prefer playing blackjack, poker, roulette, or any other live dealer game, get ready to enjoy interactive and immersive experiences like never before at top Canadian online casinos.
But what propels these players to continue investing in AR/VR despite many people thinking that the technology has hit a losing streak? Well, here are key trends igniting AR/VR development across the globe.
- The Metaverse
The current AR/VR technology wave primarily rose to mainstream adoption due to the metaverse hype. Initiated by FaceBook’s name change to Meta in late 2021, the Metaverse hype propelled AR/VR tech to the spotlight. Aside from promising interconnected virtual worlds, the buzz pushed brands the world over to invest in AR/VR, broadening the appeal of this technology across various industries.
Today, although the Metaverse bubble is not what it used to be, many of these companies are still thriving in the AR/VR space. But if these players could come up with a uniform set of hardware and software to enhance the user experience and lower interoperability costs, there’s no telling how high the AR/VR market would soar.
- Cheaper AR/VR models
One of the biggest hurdles the AR/VR space has struggled to navigate is developing inexpensive models. This includes everything from the content to the applications to the hardware and more. After all, to enjoy such out-of-this-world experiences, consumers need to invest in controllers, headsets, and, in some cases, additional specialized sensors.
Thanks to companies like Meta, Sony, and Apple, a new wave of cheaper AR/VR models has hit the market. In fact, for as little as $20, you can enjoy the VR experience using Google Cardboard and plenty of other similar headsets. With the barrier to entry reduced, we can expect more consumers to take advantage of the immersive VR experiences, igniting further AR/VR growth.
- The Rise of the Try-Before-You-Buy Revolution
Initially exclusive to the sales market, the try-before-you-buy concept began as a way to guarantee buyer satisfaction as they made purchase decisions. However, now that e-commerce is a dominant force, businesses need to provide new ways for their customers to still try-before-they-buy, and that’s where AR/VR technology comes in.
With the help of virtual try-on functionality as well as other digital experiences, the try-before-you-buy revolution has hit another curve that goes beyond the sales niche. Now, consumers can interact with real-life products in a virtually simulated world from any device. Did we mention that you don’t have to make any physical site visits? Simply look at the product virtually to see how it feels and looks and place your order. Revolutionary, right?
The AR/VR Hype is Still Alive
Despite critics arguing that the high costs associated with AR/VR development, as well as limited consumer adoption hinder AR/VR growth and development, experts still believe that the industry is yet to experience explosive growth.
With the increase of more affordable AR/VR hardware and the demand for more interactive digital experiences, the AR/VR market is definitely on the verge of hitting a winning streak and overcoming its current barriers.
So, despite all the noise about the AR/VR space experiencing a lull, the truth is that AR/VR is still alive and will only become bigger and better!
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