Why every company needs to embrace VR technology to be relevant in 2021

There has long been discussion and debate about the role of virtual reality (VR) and its long-term place in the corporate world.

To understand this debate, we must first understand VR. In simple terms, VR is a computer-generated simulation. A person using VR can interact within an artificial three-dimensional environment using tech goggles or gloves with sensors.

Now, VR has wide applications across a range of industries. When we talk VR you might also hear or read the team ‘XR’ or extended reality. XR is the umbrella concept referring to all real-and-virtual environments generated by computer tech.

VR is the most widely used of XR technology. There are a few key reasons why every company needs to embrace VR technologies in 2021 and beyond.

Impact of COVID-19

The COVID-19 pandemic has further propelled the critical need of technologies such as VR. Many companies in Australia and abroad have been forced to think and implement swiftly to respond to the crisis. This includes enabling remote working and bolstering cloud infrastructure. This new priority for many companies will help the adoption of VR going forward.

In July 2020, analyst firm Strategy Analytics published their ‘Short and Long-Term Impacts of Covid-19 on the AR and VR Market’ report. The report found that the total XR shipments – combined VR and dedicated AR headsets – will increase sixfold through 2025.

“Work at home, training, education, and collaboration will all benefit from AR/VR,” stated David MacQueen, director of the virtual and augmented reality service at Strategy Analytics.

Enter 5G

Importantly, a key takeaway from the report was that 2021 and 2022 will see a ‘slight comeback’ for smartphone-tethered VR headsets due to the rise of 5G networks. The establishment and commercialization of 5G networks has spurred new developments in the world of AR/VR technologies. This is mainly due to the low latency and faster network speeds powering opportunities for live, interactive experiences.

Australian Real Estate Industry

We at Sendro Group have experienced a 2x increase in VR solutions for property owners and landlords in Australia. Gone are the days where clients have to visit multiple properties in person, which can be inconvenient, time-consuming and expensive.

Now VR technology helps solve these problems. This technology allows customers to virtually visit properties without the inconvenience of travel. They simply put on a VR headset and you can experience immersive, three-dimensional walkthroughs of properties. In a matter of minutes, potential buyers or renters can virtually visit dozens of locations. The applications are endless: sell properties directly off-plan to increase sales, showcase VR tours in your showroom to save the need for physical space or share it overseas with international buyers.

To find out more about how your company or business can use VR, get in touch with Sendro Group for a free consultation.