How XR Technologies Are Gaining Adoption in the B2B Market

As we all know, the pandemic has accelerated the adoption of many digital technologies in the B2B market. One such technology that is gaining a rapid adoption is XR (Extended Reality) which includes VR (Virtual Reality), AR (Augmented Reality), and MR (Mixed Reality).?

According to Mordor Intelligence’s analyst report, the XR market was valued at ~$26B and is expected to reach ~$400B in 2026, at a CAGR of ~60%. This is driven more by the B2C use cases (e.g.: gaming) but B2B use cases have a faster adoption rate too.?

In this article, I will share some of my experiences and learnings of how XR is used by our Fortune 500 clients in the Life Sciences, Healthcare and Technology (Hi-Tech) market.?

Business Use Cases and Outcomes:

XR is gaining traction with functional teams in field services & maintenance, manufacturing, training, and labs. Some of the use cases and outcomes expected are detailed below:

How is this implemented in real life scenarios: Success Stories

1. A US-based Fortune 100 Life sciences company that specializes in cardiac and surgical medical devices is using all XR technologies to be rendered on mobile and binocular devices to assist their field service technicians in product training, installations, and troubleshooting activities in their client locations.
2. A US-based Fortune 500 Life sciences company that specializes in orthopedic medical device manufacturing is setting up a new manufacturing plant in a new country. They are leveraging AR with 2D/3D content with remote expert assistance for step-by-step training of their new plant employees on some of the complex tasks.
3. A US-based Fortune 500 medical devices manufacturer that specializes in diagnostic? devices is using MR-based content to assist their lab operations employees on several complex lab experiments and activities.
4. A US-based Fortune 500 Technology company that specializes in software and hardware devices? is piloting? VR technologies, wearables along with AI driven surgery applications integrated with EMR, to assist their surgeons in real time during implant surgeries.???????

The pandemic has accelerated the use of XR technologies to enable their business outcomes in large enterprises and are actively moving from proof of concepts into full scale implementations for a variety of business use cases.?

Metaverse and its impact on B2B enterprises (is a topic by itself) to be covered in depth in a separate article.?

?#XR #AR #VR ??