Virtual, Augmented, and Mixed Reality

Personally, I was first exposed to the concept of virtual reality when Youtube started uploading a series of 360 videos. Ranging from amusement park rides, exploring space, music videos, and much more, the Youtube 360 videos created a great user experience where it seemed like I was present in the video. What is virtual reality? Virtual reality (VR) is an immersive experience achieved by viewing 3-D images through specific hardware like a VR headset, such as the Oculus Rift. It allows users to escape to alternate reality by creating a seemingly real interactive environment. Worldwide, the VR market volume is expected to reach 98.4 million sales by 2023. The early known uses of VR was in the gaming and entertainment industry, but VR applications also include education, healthcare, business, and more. Examples of businesses using VR are: Nintendo created a Labo: VR kit for Nintendo Switch, giving VR compatibility with Super Mari Odyssey and Legend of Zelda: Breath of the Wild. Alibaba uses VR for customers to virtually stroll through shopping centers in different countries and purchase products without leaving their home.

Augmented Reality

Augmented reality (AR) places digital content in the context of the physical world; it adds value, solves problems, and enhances the UX in nearly every industry. There are 5 types of AR: the first is image recognition AR that uses a trigger object as cue to display content. It requires the least amount of processing power and is easy to implement. Markerless AR uses cameras, and GPS info to track where the user is and display relevant info. Projection-based AR (I assume Pokemon Go is an example) projects digital images directly onto objects or surfaces within users' environments. Outlining AR outlines shapes, and superimposition based AR uses object recognition to entirely or partially replace an object within the users' environment with a digital image. For example, Ikea's Place App allows users to scroll through a catalog of furniture, seeing how each piece would fit in their physical setting. With AR, it helps boost sales; 72% of customers purchased products they had not planned on after using AR while shopping. When Pokemon Go was launched in 2016, it gained attention and popularity grew. Businesses working with Pokemon Go to make storefronts Poke Spots saw a $2,000 average increase in weekly sales due to additional foot traffic.

Mixed Reality

Mixed reality (MR) is the intersection of VR and AR; it is the merging of real and virtual worlds to produce an environment where physical and digital objects co-exist in real time. MR is aware of the geometry of the environment around you and uses it as a canvas to create the immersive content and experience. MR is headset-based; MR headsets offer a holographic experience and takes more processing power compared to VR and AR. Among the three, MR is the youngest immersive technology, so awareness isn't incredibly high. However, Microsoft announced the launch of HoloLens, which can create shared experiences across a series of devices. There are two forms of MR: MR that starts with the real world, and MR that starts with the virtual world. In the real world MR, users can interact with virtual objects in the real world, whereas in the virtual form of MR, the digital environment replaces the real world.

Why Companies Should Invest In VR, AR, and MR Technologies

VR can help companies retain existing customers by keeping them happy with immersive product trials, demos and store walkthroughs. Companies invest in VR because it attracts new customers in engaging with the brand and products at their leisure, expanding the customer base. In addition, VR helps introduce emotion and intrigue into the content, providing real value that captivates the audience. VR also helps companies with corporate training; Walmart rolled out its VR program to train associates and issued Oculus Go headsets for employees to improve customer service and compliance. AR assists companies in placing advertisements about the brand, products, and tell stories directly into the consumers' world. Brick-and-mortar stores can hugely benefit from AR to improve the customer experience and ease the stress level for employees when understaffed. AR can help customers find product information more efficiently and conveniently, and helps with customer service by reducing the wait time. In addition, people can use AR to troubleshoot an issue instantly to figure out a solution. Advertising in AR is outperforming other channels with conversion rates in the 20-80% range. "The immersion... of the experience... creates an emotional connection with users which aid better recall, positive associations and increases brand awareness. What is stored into memory is 70% higher for AR experience." MR helps developers produce products efficiently and conveniently, ensuring that all necessary information is available. Companies can reduce the amount of time spent in the assembly line and MR creates a step forward to ease of operations. MR can help collaborate team members together on a project, and is beneficial when sales representatives are coming up with a new offer.

Marketers can use these VR, AR, and MR technologies to help increase the brand recognition by increasing consumer engagement. Marketers can use AR for interactive advertising in the real-world, which spreads brand awareness and increases word-of-mouth for the brand. All three technologies can be used to provide educational and valuable information to the target audience of the company or brand.