The new game in town- by Anjali Masters

“Every reality was once a dream. So was Virtual Reality and Augment- ed reality. The future of technology is here. Reality is no more the game in town!”

Where it All Began

Gaming industry exploited the opportunity first. Now marketers are looking to tap this platform and reach to consumers in a brand-new way. Print advertising is slowly becoming a thing of the past. Consumers are becoming inclined to experiences and efforts are being made to attract audience’s attention while making them interactive with their advertisements. Virtual Reality ads can help consumers immerse themselves in it, just like the Korean Company, Innisfree allows customers take a VR bicycle ride. This is a step ahead for marketers and brands who are looking to foray into Virtual Reality.

AR & VR in India

Back home, in India, AR and VR market is projected to register a CAGR of 55.3% in the years between 2016-2021. Increase in the adoption of AR and VR based products like head-display and head-mounted display etc. are driving the growth in India’s AR and VR Market. Many consumer electronics applications have been on the rise and have picked up in the AR and VR Market. Gaming Industry especially is touted to cross US$ 792 million in value terms by 2021.

In India, AR and VR are picking up in the start-up space. In 2015, defense industry was the largest end-user of AR & VR products by increasing use of the head-mounted display for training purpose, and of head-up displays for displaying information such as aircraft speed, altitude, horizon line, etc. An increase in the defense budget of the country is expected to further boost adoption of AR & VR based products over the next five years.

Imagine, an AR and VR based technology startup has developed an AR Simulator – ShootAR, which is being used by the Indian Army and LivAR for doctors who perform open liver surgeries. The Indian Market seems to be picking its pace in this segment.

Real Estate

AR and VR are the poised game-changers in the Real Estate Sector. A walkthrough of the site through Virtual Reality can attract potential clientele and save on costs of the brick and mortar demonstration of the housing site. Tours of planned real-estate developments can also bring in potential buyers. Hotel Marriot is offering to show its rooms/suites to people who are interested in booking rooms with them. It’s effect on Marketing – referrals sent

out by a bunch of happy customers to their contacts.

Travelling

While most of us share a common love for traveling, many do not get the opportunity to do so. If you want to see how it looks like inside the Eiffel Tower in Paris, Virtual Reality effortlessly transports you to that exotic location and makes you experience the culture and places to visit.

Everyday Shopping Experience

Your shopping experience is about to change in a big way. While you go grocery shopping, Augmented Reality can aid your shopping experience by using GPS navigation that can get you the product that you are looking for. Augmented Reality is easy to access through smartphones/tablets, and this can be mounted on your shopping cart to relieve you of the pain of actually searching for the product.

Automotive

Want to buy the car of your dreams? Automotive companies like Ford assist you in buying that Mustang you were eyeing for a long time. The Virtual Ford Mustang App brings reality to life on your smartphone by creating a life-like image of the car along with a look into its features, configuration and even as much as hearing the noise of the engine. Augmented Reality works in this space of providing an experience of transporting you to the desired location where you can even test drive the car.

Healthcare

The healthcare segment isn’t far behind in adopting this new technology. Patients can use Aug- mented Reality to view how a drug works in their body. It can also show future medical conditions of your body under a prolonged un- healthy lifestyle. Pharmaceutical companies can provide treatments for this by utilizing this technology.

Entertainment

Popular TV Show like Game of Thrones, through Virtual Reality, created a multi-sensory traveling exhibition wherein people could feel the experience of climbing The Wall, another way of immersing viewers.