Immersive Enterprise – Sector Impact of Alternative Reality Technologies

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Published: January 05, 2024 Report Code: GDDT-IR-S2064-ST

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Immersive Enterprise – Sector Impact of Alternative Reality Technologies Report Overview

The immersive platform landscape is being shaped by a host of convergent trends, such as advanced hardware, 5G roll-out, cloud computing, miniaturization, and collaborative features among others. This report serves as an invaluable resource for gaining insights into how the adoption of immersive platforms not only enhances user experiences but also cultivates customer-centric strategies. In addition, the report highlights advantages, such as fostering greater engagement, accelerating training and learning, optimizing product design, and ultimately positioning businesses at the forefront of innovation, of deploying immersive platforms.

Key Technologies ·        Virtual Reality (VR)

·        Augmented Reality (AR)

·        Mixed Reality (MR)

·        Spatial Computing

·        Haptic Feedback
Key Sectors ·        Healthcare

·        Consumer

·        Automotive

·        Travel & Tourism

·        Retail
Key Companies ·        Samsung

·        Huawei

·        LG

·        Sony

·        Microsoft
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Immersive Enterprise – Sector Impact of Alternative Reality Technologies

Immersive platforms harness immersive technologies, commonly grouped as extended reality (XR), to enhance or substitute the physical world with a 360-degree digital environment, encompassing hardware and software components. The key immersive technologies are virtual reality (VR), augmented reality (AR), mixed reality (MR), spatial computing, and haptic feedback among others.

Spatial Computing: The technology builds a 3D space where digital and physical objects co-exist and interact in real-time. It goes beyond mere display to include sensors and AI that understand and react to the environment.

Augmented Reality (AR): Creates an interactive, enhanced representation of the real-world environment by integrating digital visual elements, sounds, and additional sensory feedback through holographic technology.

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Immersive Enterprise – Sector Wise Impact of Alternative Reality Technologies

The key sectors leveraging the alternative reality technologies are healthcare, consumer, automotive, travel & tourism, and retail among others.

Healthcare: Companies in the healthcare sector are deploying alternative reality technologies to strengthen their product portfolios and cater to a larger range of medical treatments such as patient engagement, disorder management, and disability management. For instance, California-based AR technology startup Ocutrx introduced the Oculenz AR Headset in November 2023. The product is designed to address the needs of individuals with advanced macular degeneration. Through a combination of modern technologies, the Oculenz AR aims to improve the daily lives of those affected by macular degeneration by providing enhanced visual experiences.

Consumer: Meta, in collaboration with Italian French consumer goods manufacturer EssilorLuxottica, introduced the Ray-Ban Meta smart glasses in September 2023. These glasses are designed to enhance core features and introduce new capabilities.

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Immersive Enterprise – Sector Impact of Alternative Reality Technologies – Competitive Landscape

The key companies filing patents for alternative reality technologies are Samsung, Huawei, LG, Sony, Microsoft, Magic Leap, Intel, Meta Platforms, Qualcomm, and Apple among others. The R&D landscape in immersive technologies spans industry leaders, emphasizes integration with emerging tech, and sees enterprises exploring innovative applications. Samsung was the leading company with the highest number of patents filed for immersive technologies between 2018-2023, followed by Huawei and LG.

Leading Companies in the Alternative Reality Technologies Market, 2018-2023

Leading Companies in the Alternative Reality Technologies Market, 2018-2023

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Scope

Innovation Insights: innovation examples by sectors on immersive platform use cases to present key trends.

Key Highlights

Innovations: presents real-world innovation examples related to the immersive platforms across different sectors. It casts light on key players across different sectors utilizing immersive technologies and platforms for their sector-specific applications.

Reasons to Buy

  • Understand and predict the next wave of innovation across sectors. No surprise that technology has been a driving force in business transformation for years, but the term ‘emerging technologies’ has suddenly become the key catalyst to drive operations across sectors.

  • Get cues from successful innovations in across sectors to either draw analogies with existing products, services, and processes or transfer strategic approaches for a revolutionary transformation. The sense of urgency weighs differently across different sectors, where the direct customer-facing sectors are at the forefront compared to other capital-intensive sectors.

  • Understand which emerging technologies are impacting sectors and how various companies are implementing them to meet various challenges.

  • The innovation landscape report on innovations in immersive platforms across sectors, published by GlobalData as part of an ongoing series, covers some real-world examples to advance the development and implementation of the technology by some of the key enterprises as well as startups in various sectors.

Aditya Birla Sun Life Insurance
Alibaba
Altoura
Amazon
Audi
Autodesk
AXA XL
Bank of America
Bentley Motors
BinaryX
BMW
Changi Airport Group
Colgate-Palmolive
Collins Aerospace
Diageo
Didimo
Duality Robotics
Elizabeth Arden
Estee Lauder
Flipkart
Ford
FourPlus
FundamentalIVR
GE Healthcare
Google
H&M
Haven
Holoride
Honda Motors
Internova
Lowe's
Ludica Health
Lumeto
Macy's
Maersk Training
MeetKai
Mercedes-Benz
Meta
MicroCloud
Microsoft
Mirrorscape
Myavana
NatureEye
Nestle
Nike
NVIDIA
OCU Health Care
Ocutrx
Penumbra
PepsiCo
Perfect Corp
PropVR
Punjab National Bank
Qatar Airways
Qualcomm
Railcar Studio
Sandbox VR
SBI Life
Siemens
Skoda Auto
Snap
Sony Group
Sony Pictures
STB
Stellantis
Taqtile
TD Bank
Telia Norge
Tokio Marine
Unreal Engine
VA Immersive
Virtex Solutions
Vizalogix
Walmart
Way Experience
WiMi Hologram
Xiaomi
Zuellig Pharma

Table of Contents

1. Immersive Platforms Landscape

2. Key Technologies

3. Timeline

4. Sector Use Cases

5. Real-world Innovations

6. Outlook

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