COVID-19 Speeds-up the Adoption of AR & VR
The pandemic has definitely accelerated the adoption and interest of AR & VR (XR). Several enterprise verticals like manufacturing, oil & gas, and education are seeing an increase in implementation. For example, we are seeing companies like Librestream raise a healthy $24 million round to expand their AR & AI-driven worker platform. They have seen a 433% spike in global usage since March 2020 and will hire 50% more staff in the next 24 months.
Proof of this acceleration is a Gartner study that expects to see two out of three large field service organizations equip technicians with XR applications by 2023, up from under 1% in 2019.
When we get back to a new type of future, instead of normal, you'll probably see companies slash travel budgets and opt for AR and VR solutions for team meetings. It will be cheaper, and at times safer, to ship team members or executives a headset and have them meet in an app like Spatial where they can collaborate and achieve a level of "presence" that is closer to being in an in-person meeting.
In education, you are seeing students in universities like Chapman University and the University of North Carolina Chapel Hill taking classes in a VR setting, which is leading to higher engagement than on Zoom calls and in turn higher student satisfaction.
We've lived through, what feels like, 2 years of acceleration in the last 2-months. AR and VR will continue to shape the future of Industry 4.0 even faster as connectivity increases and businesses and organizations need to find new ways for their employees to work and for students to communicate.