VR Business Applications: Unlocking Possibilities Beyond Gaming

Till we invent time travel, multi-dimensional travel, or any other sci-fi-inspired traveling - Virtual Reality (VR) is the only technology, for now, that can take you to a different reality.

All thanks to its ultra-realistic visuals and real-time interactive experience, and a smart environment, with AI coming into the picture.

VR immerses users into a seemingly real environment as if they are right there in it, living a different life.

This unique capability has found its most usage in the arena of gaming. However, there are hundreds of VR business applications that can prove a pathbreaker for the businesses that deploy it.

In this blog post, this is exactly what we are going to discuss, starting right from the advancement in VR VR technology to its diverse business applications beyond gaming.

So let’s start.

Advancements in VR Technology

Driven by continuous improvements in optics, displays, and processing power, VR technologies have made significant strides lately. The market-disrupting VR headsets, such as the Meta Quest, that offer 360-degree views, high-resolution displays, and powerful processors, have allowed users to dive into a virtual environment where they are free to explore and interact.

Also, in the face of it, this appears more of a gaming functionality but this is where you are wrong. Going beyond gaming, these have paved the way for new and exciting applications across various sectors.

Top Technological Advancements Powering VR

Improved Graphics and Resolution

Modern VR systems are now capable of utilizing high-resolution screens to deliver stunning 3D graphics rendering. This results in sharper images, minimum pixelation, and more realistic images that convince the audience.

Users can see intricate details in virtual environments that help keep them engaged. So whether it is a game where they need to explore architectural designs, or educational simulations imparting history lessons, the explorers in both the care are engaged.

Haptic Feedback

The other game-changer for VR has been the Haptic feedback technology. For those who don’t know - Haptic technology enables users to feel sensations through touch. The advent of haptics in VR has added a new layer of realism.

Now imagine the level of experience when your are in a VR experience and reach out to touch a virtual object. You can feel the resistance or texture of the object. So if you are a hospital offering training to its surgeon through VR, haptic gives them a tactile sensation that mimics the feel of real tissues, providing invaluable feedback to the surgeon.

• This helps surgeons develop precise motor skills and tactile sensitivity that improves their surgical proficiency while enhancing patient safety by reducing the risk of errors during actual surgeries.
• Moreover, developers are on with their work towards more sophisticated haptic devices, such as gloves or vests, to simulate various tactile sensations.

Motion Tracking Systems

Further, there have been significant advancements towards accurate motion tracking. This is crucial to deliver a highly interactive VR experience that responds to every user's move.

Systems like inside-out tracking use cameras or sensors mounted on the headsets to monitor users' movements. They relay the information gathered information on the user’s face and their surroundings, allowing the system to understand where you are and how you're moving.

This tracking ensures that users' actions are aligned seamlessly with what they see in the headset.

So, if an employee is going through training in the VR experience which involves assembling machinery, the employee can grab virtual components, move them into position, and manipulate them like handling real objects. The system precisely tracks their hand movements and gestures for seamless interaction with virtual elements. Result: valuable hands-on practice in a safe and controlled environment.

Advanced Hardware

Lastly, there have been continuous advancements in virtual reality hardware. The list starts with wireless headsets allowing freedom of movement, essential for natural interactions. Additionally, headsets have become lighter and more comfortable with each passing innovation to encourage longer sessions without discomfort.

Eye-tracking technology for foveated rendering i.e. the VR system focuses on rendering in high detail of the object that eyes are looking.

We have already talked about haptic feedback technology in general but we have already moved ahead in this direction. Realistic haptic feedback does not just offer simple vibrations.

There are devices that simulate pressure, temperature, and even texture variations.

Next, Field of view (FoV) improvements. The visual scope has been widened, making the virtual world more expansive.

Looking to the future, we can expect further advancements in display quality, comfort, and affordability make VR more preferable and affordable. For business looking for innovative solutions, VR poses a great option.

However, here would like to clarify that the advancements we mentioned such as wireless headsets, high-definition images, and powerful processors are just the tip of the iceberg.

The integration of artificial intelligence into VR experiences will power the interactivity and intelligence multiple times, making it more realistic and responsive.

Now. let’s have a look on the various application of virtual reality in business.

Business Applications of Virtual Reality: Next-level User Experience Assured

With the ability to offer a great user experience, VR business applications are numerous. While for their employees, businesses use it to impart training and education, they can also offer a great user experience to build their brand.

Let’s look at some of the amazing use cases across industries.

VR in eCommerce for Impressive Product Visualization

In the competitive domain of e-commerce, VR can be used for virtual stores, fitting rooms, and product visualization where customers can interact with products in 3D space. They can try them on, and make a better purchase decision.

Additionally, VR enables interactive product demonstrations, virtual tours of eCommerce stores in VR for a better connection with the customers.

However, the most outstanding benefit is that VR has the ability to utilize impactful techniques like storytelling and gamification. This guarantees a significant boost to sales and fosters long-term customer relationships.

Education

In 2020, PwC conducted a study on VR’s capability to deliver learning outcomes, and it found the following:

• VR training is four times faster than traditional methods with four times better attention paid by the participants.
• VR training can be 52% more cost-effective than classroom learning.
• 78% of VR participants prefer v-learning to more traditional modalities.

These stats are enough to show the power of VR in delivering high-quality education. It leads to significantly faster learning, better retention, and more confident learners.

To give an example, VR is able to put students in realistic scenarios for them to better explore historical events, visit ancient civilizations, or even dissect virtual organisms. Something they would hardly forget once experienced.

Health

Virtual-reality simulations use actual diagnostic images (such as CAT scans or ultrasounds) to construct realistic 3D models of a patient's anatomy. This enhances the understanding of surgeons about the case and helps them better plan and practice complex procedures in advance.

Architecture and Real Estate

Businesses in real estate can leverage VR to create immersive walkthroughs of buildings and properties.

They can let their clients virtually explore homes, offices, or prospective construction projects before they are even built. This way they will provide their clients with better information and ease their decision-making.

And as per a study by the Harvard Business Review found that when provided with easy-to-understand information, customers were more likely to make a purchase decision.

Collaborative Work Environments:

For business with teams distributed around the world, VR facilitated better collaboration by offering shared virtual spaces.

They can conduct meetings and brainstorming sessions, carry out design reviews, work in sync while breaking geographical boundaries, and achieving faster and smoother communication.

Additionally, these team members can meet each other in a virtual environment, get engaged in activities that foster creativity and productivity.

There are several such use cases spread across industries. At Hey Buddy, we ourselves have developed and delivered several VR apps for businesses. Check out our case study section.

Future of VR in Business Applications: Projected Growth

The future of VR seems immensely positive.

The market is expected to grow rapidly with a compound annual growth rate of 57% between 2021 and 2028.

According to a report by Statista, the global VR market size was 29.7 billion in 2020 and is expected to reach 134.2 billion by 2028.

This is due to the increasing demand by the user for higher-level user experience and the capabilities of immersive technology like AR and VR to deliver the same.

VR is making significant strides in sectors like gaming, but its potential in education, e-commerce, and real estate is not small.

Additionally, with the advancements in technology and the decreasing cost of VR headsets, we can safely say that the technology will drive the growth of the market by being more accessible and effective.

Conclusion

In conclusion, as businesses and consumers embrace the immersive possibilities of VR, it is not a distant future when we will witness virtual and physical realities seamlessly coexisting. Therefore, opening up new frontiers of human experience and innovation.

FAQs

What are VR business apps?

VR business apps are software applications. They are specifically designed to meet various business requirements such as training, collaboration, visualization, and customer engagement.

What are the key business applications of VR?

VR applications encompass a wide range of uses:

• Virtual training simulations
• Immersive data visualization
• Virtual collaboration
• Virtual prototyping and design
• Virtual customer experiences

How can virtual reality be applied in business settings?

Virtual reality finds application in various domains such as training, marketing, sales, product development, design and prototyping. Along with that it also contribute in remote collaboration, and customer engagement.

What are some examples of business applications of virtual reality?

Business applications of virtual reality include virtual training programs, virtual product demonstrations, virtual meetings and virtual prototyping.

How does virtual reality contribute to business application?

Virtual reality provides immersive solutions for training, visualization, collaboration, and customer engagement.