We are at the cusp of a major revolution from mobile to immersive computing. Last year was seen as the dawn of a third wave of devices employing augmented and virtual reality (AR and VR), which define the two spectrums of immersive technology that could replace mobile computing.A range of major products came to market in 2016 from companies including Oculus VR, Sony and Google. Since it bought Oculus for $2.1 billion, Facebook has acquired a further 11 AR and VR companies, underscoring the companyâs view that AR and VR will form the next frontier. The large investments and acquisitions by tech giants suggest that these technologies will become increasingly integrated with the platforms on which we consume content.According to a recent estimate by Goldman Sachs, AR and VR are expected to grow into a $95 billion market by 2025. The strongest demand for the technologies currently comes from industries in the creative economyâspecifically, gaming, live events, video entertainment and retailâbut will find wider applications in industries as diverse as healthcare, education, the military and real estate over time (Exhibit 1)....
Sheba Medical Center in Israel and broadband provider Cox Communications are among several organizations that have found new uses for augmented reality during the coronavirus pandemic, and they plan to continue using the data-visualization technology beyond the crisis....
It is no secret that Industry 4.0 technologies are making revolutionary changes in the world of manufacturing. However, experts opine that the full potential of these technologies is yet to be realised by the defense and manufacturing sector....
