The implementation of immersive technologies such as augmented reality (AR) and virtual reality (VR) is set to become mainstream in business operations in the next three years, according to a report from the Capgemini Research Institute on Friday. Based on a survey of more than 700 executives in the automotive, manufacturing and utilities sectors, the research showed that 50 per cent of enterprises currently not implementing AR and VR will start exploring immersive technologies for their business operations within the next three years.
These include using AR to remotely access real-time help from experts on a wearable or handheld device, and VR to train employees, said the report. The benefits of implementing AR/VR are either meeting or exceeding the expectations of 82 per cent of companies, the findings showed. However, a shortage of in-house expertise and insufficient back-end infrastructures are significant barriers to growth of these technologies, it added.
“To drive the highest business value from AR and VR, companies need a centralised governance structure, proofs of concept that are aligned with business strategy, and to be able to drive innovation and employee change management,” said Lanny Cohen, Chief Innovation Officer at Capgemini.
More than 45 per cent of companies believe the technology will become mainstream in their organisations within the next three years, while a further 38 per cent think it will become mainstream in their organisations in the next three to five years, the findings showed. The report revealed that while AR is more complex to implement, organisations perceive it as more beneficial than VR. The research found that companies in the US and China are currently leading the AR/VR implementation race, with over 50 per cent of companies surveyed already implementing immersive technology for business operations.
“Immersive technology has come a long way in a short time and will continue to evolve. Faced with stiff competition from aggressive investors in the US and China, businesses need to streamline investment to seize the long-term growth potential of this technology,” Cohen said.
The Capgemini Research Institute is an in-house think-tank of French technology services major Capgemini.