How VR Technology Could Change The Way We Do Business Forever

It wasn’t that long ago when the idea of virtual reality (VR) technology sounded almost elusive and futuristic, but now it’s set to become the next big thing in the business sphere. Let’s take a look at these new technologies and how they are going to improve business communications and productivity in a multilingual world.

Better Communication Globally

Many successful enterprises operate on a global scale, which means that company representatives meet or at least speak frequently to discuss business matters. VoIP was a great solution to the business meetings, which involved hours of traveling to reach desired destinations. It appears that VR technology will enhance VoIP further because of the immersive, interactive experience offered.
VR and AR technologies have the capacity to break down language barriers, as they can be used to educate and train employees who work all over the world. This will give employees a better learning experience and should also help companies to be more productive globally.
These immersive technologies are more than just fun and games. They are practical solutions for improving communication and producing a more dynamic, efficient workforce.



The Landscape Is Changing

Until recently VR technology was mainly associated with the gaming industry, because initially it was the target market. However, a recent forecast by Goldman Sachs indicates that this technology will be a must-have asset for a variety of organizations. They have predicted that by 2025 more than half of all VR and augmented reality (AR) users will be outside of the software market.
Technology expert Brian Blau believes that the use of VR technology in business has the potential to increase productivity across multiple industries. He reckons that over the next three years, business adoption could overtake consumer adoption as the trend becomes well-established.
In addition, a report issued by the market research firm IDC stated that by 2020, the VR/AR market will reach more than $162 billion, with the majority of this revenue coming from the United States, Western Europe and Asia as enterprises in these regions endorse these technologies.

Why VR Technology?

Business owners like to keep their finger on the pulse when it comes to new ideas, because that’s what drives innovation. VR/AR technologies could revolutionize the way businesses operate, just like PCs did back in the 1990s. The wide-scale PC adoption by enterprises increased efficiency and has now became a necessity for most businesses.
Some industries have already been benefiting from VR technology. Major automotive companies like Ford, Hyundai and Volvo have been using it for building processes and sales. VR allows the customers to test out features and even test drive models.
Healthcare students have been using VR to develop the skills needed to work on real people, and experienced surgeons have been using it to explore how they might carry out new procedures.
The tourism industry has also been giving their customers an interactive view of hotels and resorts, which has been rather lucrative for travel agent Thomas Cook. When they decided to give their customers a realistic presentation of their holiday destinations with VR, they got almost half their investment back within the first three months.
Retail, architecture and aerospace organizations have also found VR experiences to be advantageous, and more industries are set to benefit from it in the near future.