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Virtual Reality in Business

Virtual Reality in Business

This is a quick guide to virtual reality (VR) in business.

In this new guide, we’ll address key topics such as:

  • The advantages of using virtual reality for business
  • The industries where VR is making the biggest leaps
  • The innovative applications that leverage VR technology

So if you’re looking to make VR part of your business operations, this guide is for you.

Let’s begin.

Virtual Reality in Business in 2021

Virtual Reality in Business 2021

Virtual reality isn’t a new concept. But over the last few years, it seems to have taken off, finally managing to cross over into the realm of practical application.

In fact, many experts see VR as the future of work. 

Still, for such a promising technology, it isn’t featured on the prestigious Gartner Hype Cycle.

Why is that?

The reason behind its disappearance of VR technology has to do with the emergence of new VR business applications.

As soon as it was dropped by Gartner (after passing their Slope of Enlightenment), two new technologies emerged:

  • Augmented Reality
  • Mixed Reality

Both of these new fields of technology are based on VR. 

At the same time, the development of VR also depends on other tech innovations such as:

  • Computer graphics
  • Rendering technology
  • Computer processors
  • Display technology
  • Cloud computing
  • 5G

In fact, VR is still evolving.

So, while most of us witness its development as head-mounted displays, VR engineering isn’t just a headset.

Business Application of VR

virtual reality advantages in business

VR technology is the future of work. So in this part of the article, we’ll show four innovative applications of VR technology in business in 2021.

Let’s take a look:

#1 Commercial VR Systems (for e-Commerce)

It’s safe to say that e-commerce has risen leaps and bounds in the past several years. Some of it has to do with Amazon, and a lot has to do with COVID-19.

Amazon had changed online shopping with its fast fulfillment options like same-day delivery,  which according to McKinsey:

“It integrates the convenience of online retail with the immediacy of brick and mortar stores.”

And as technology like delivery management software helps businesses achieve these new tasks, VR technology may help them personalize the shopping experience.

Virtual stores, for example, are already emerging. IKEA’s Reality Kitchen Experience allows people to explore the offer in the store and inspect products via VR headsets before check out.

This kind of virtual online shopping could extend to car showrooms and real estate, while companies could analyze the heat maps of the VR experience to find patterns and improve the offer and their display in the virtual store.

#2 VR for Engineering and Manufacturing

Companies that use virtual reality for engineering are combining it with 3D-model visualization to come up with prototypes that are much more cost-effective. 

Because these models are digital, the product developers can use integrated analytics systems to get a better understanding of the project. 

Developers can use VR models to search for design flaws and modify the design before it moves to the production floor.

For example, Airbus is using VR technology to improve its aircraft design. Inside the planes, the company is using VR to check passengers’ in-flight experience, while on the plane exterior it’s testing aerodynamics without the use of wind tunnels and other expensive equipment.

#3 VR Technology in Work Environments

As COVID-19 continues to disrupt how companies conduct business, one area in which you may see the adoption of VR technology soon is in the workspace.

For example, remote jobs may start depending on virtual communication and collaboration. Teams could use the technology to attend virtual meetings without the need for commuting or physical contact.

Beyond the coronavirus pandemic, this kind of use of VR could benefit companies that rely on managed IT services to streamline how they do business with their providers.

business applications Virtual Reality

#4 Using VR for Practical Training Applications

VR could also help certain professionals perform tasks in a virtual environment that would typically require physical interaction. Specifically, this could primarily be used for practical training.

Both civil and military pilots have for years now been using flight simulators to learn how to fly. But as VR technology progresses, they may not even need the flight simulator machines anymore.

Instead, they could simply step inside a virtual cockpit and simulate flight controls to learn the fundamentals of flight.

This kind of use of VR in the workplace may transfer to everyday jobs, as well. 

Sales associates, for example, could practice their persuasion techniques and sales pitches with customized VR applications that simulate real-life sales situations.

If you want to know more about Virtual Reality and its use in business, stay up to date by reading the latest trends in technology and business on the Demakis Technologies blog.

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