Virtual Reality has Strong Interest from U.S. Businesses
August 17, 2017 | ABI ResearchEstimated reading time: 1 minute
Virtual Reality (VR) is often viewed through the lens of consumer-driven gaming, but in a recent B2B technology survey of 455 U.S.-based companies across nine vertical markets, ABI Research finds that while only 4% of respondents have VR in operation, 85% are at least in the stages of early investigation. In fact, of the 13 technologies highlighted in the survey, VR fell roughly in the middle of the pack, ahead of other innovative technologies like AI and indoor location.
“Despite VR being a new technology, with some setbacks already evident, the survey yielded some surprisingly positive results for VR in enterprise and commercials spaces,” says Michael Inouye, Principal Analyst at ABI Research. “The B2B market will take longer to develop than the consumer space, but its expansion, at least in the U.S., could occur at a faster rate than we had previously estimated.”
The findings show that the verticals with the most VR activity or interest, are healthcare, retail, automotive/transportation, and consumer packaged goods. Training, testing, and marketing are all early target functions for VR along with vertical specific applications like treatments/therapies for anxiety conditions in medicine or virtual showrooms in retail.
Sam Rosen, Managing Director and VP at ABI Research, concluded “For any application that benefits from deeply immersive experiences, VR is often a natural fit. We’re starting to see some early experimentation where VR will expand its horizons. The combination of a VR headset with a camera pass-through for merged reality experience in particular, will open it up to a much wider range of applications. We still expect the consumer segment of the VR market to hold the largest revenue share over the next five years, but eventually we anticipate the B2B opportunity will overtake the consumer space, especially if VR and related technologies do become the next compute platform.”
Suggested Items
Nanotechnology Market to Surpass $53.51 Billion by 2031
04/25/2024 | PRNewswireSkyQuest projects that the nanotechnology market will attain a value of USD 53.51 billion by 2031, with a CAGR of 36.4% over the forecast period (2024-2031).
Technica USA Presents Inaugural Supplier Alliance Award at IPC APEX EXPO 2024
04/24/2024 | Technica USADuring IPC APEX EXPO 2024, Technica USA took the opportunity to thank all of their supply partners that made the effort to join them for the exhibition in their booth, as well to all of our SMT partners that had their own booths, with the latest in automation and process technology.
IDTechEx Report Unveils 3D Electronics Status and Opportunities
04/22/2024 | PRNewswire3D electronics is an emerging manufacturing approach that enables electronics to be integrated within or onto the surface of objects. 3D electronic manufacturing techniques empower new features, including mass customizability, greater integration, and improved sustainability in the electronics industry.
IDTechEx Examines the Opportunities for Wearables in Digital Health
04/19/2024 | IDTechExIDTechEx’s report, “Digital Health and Artificial Intelligence 2024-2034: Trends, Opportunities, and Outlook”, covers this ongoing trend in the consumer health wearables market and includes analysis of the opportunities and roadmap for biometric monitoring.
Real Time with... IPC APEX EXPO 2024: Pluritec's Expansion and Growth in the North American Market
04/19/2024 | Real Time with...IPC APEX EXPONicola Doria, president of Pluritec, discusses the company's strategic focus on the North American market, their investment in a new sales organization, service expansion, and a new process integration line. The conversation also covers market response and future installations, as well as Pluritec's new partnership with IEC.