Hey linkedin people ,where we all are getting crazy on Apple Visionpro including me the main thing which is actually making us excited on the product is the use of Spatial computing.
Now what is spatial computing:-
?spatial computing?is an umbrella concept referring to an array of technologies rather than just a specific one. Spatial computing refers to the process of leveraging digital technology to enable computers to interact seamlessly in a 3-D world –using Augmented Reality (AR), Virtual Reality (VR), and Mixed Reality (MR). Spatial computing brings the real world and digital world together to make our reality and computer landscape intertwined.
- Spatial computing technologies increase buyer confidence, with 71% of consumers surveyed revealing they would shop more often if they used augmented Reality. Another?61%?of consumers say they prefer retailers that offer such experiences.?
- The market value for eCommerce AR applications stood at?$30.7 billion?in 2021, with over 400,000 glasses sold. It is projected to reach $ 137.14 Billion by 2028, growing at a CAGR of?57.21%?from 2021 to 2028.?
- Augmented Reality in online shopping increases conversion rates by a massive?40%,?helps shop owners improve customer loyalty, and reduces return rates.?
- As per a recent report by PR Newswire, the global VR and AR market size is forecast to reach USD 571.42 billion by 2025 from USD 11.31 billion in 2017 at a Compound Annual Growth Rate (CAGR) of 63.3 per cent between 2018 and 2025. Also, GlobeNewswire in its Fortune Business Insights report states that the virtual reality in gaming market size is forecast to reach USD 45.20 billion by 2027 from USD 5.12 billion in 2019 at a CAGR of 31.8 per cent in the forecast period.
But amongst all this where is India:
The Indian Augmented Reality and Virtual Reality market is estimated around 14000 crores in Fiscal Year 2020 and is expected to grow at a CAGR of 38.29% until Fiscal Year 2027. The availability of Virtual Reality devices, growing adoption of head mounted display during Covid-19 Pandemic had made India a best market for technological innovations like Spatial Computing. India is expected to have digital economy of One trillion dollar by 2025.
- In August 2021, Thane-based AjnaLens launched enterprise-grade (AR) glasses with a software suite. Three months later in November 2021, Carzso, had announced that it will offer 360-degree views of its virtual car to customers.
- In 2020, Reliance jio showcased a mixed reality (MR) glasses called Jio Glass, which can be used to create 3D virtual classrooms and holographic models. Jio is working to create more usability for their headsets that can be used in other industries too such as Education sector,Identifying bottlenecks in manufacturing and so on by 2024.
- Companies like Volvo and Audi are using Spatial computing to provide real time animations as a manual to decrease the time taken for learning the job. It has been found that people who learn to assemble parts from manual take 25% more time than people who are learning at real time using Spatial Computing.
I agree on less usage of technology of VR in India but I believe this Generation is no more in the rigidity shell, what you guys say?
