Virtual reality was once seen as a significant element of our future. Depicted in films with futuristic worlds where individuals could immerse themselves in complex machines or utilize VR headset technology to enter entirely new virtual realms. The potential applications for these technologies are vast and continuously evolving. Each year, the experiences become more immersive and realistic, indicating that the impact of this technology may be even more significant than initially anticipated. The term extended reality (XR) is now used to encompass technology that integrates elements of the virtual world into our physical reality.
The XR market consists of three primary forms of technology, each serving distinct applications and purposes. VR, the first of these technologies, immerses users in a fully realized 360-degree computer-simulated virtual reality environment. While typically experienced through headsets, it can also be enhanced with handheld controllers and other devices to heighten immersion. Despite being the most recognized form of XR technology, VR currently accounts for only 38% of the XR marketplace.
The remaining 62% of the XR market consists of technologies that blend the real world with the virtual world. Augmented Reality (AR) is one of these technologies, allowing computer-generated graphics to overlay the real world. This technology is commonly used on mobile phones and tablets, utilizing their built-in cameras. Mixed Reality (MR) is the final type of XR technology, seamlessly merging the real world with the virtual world in real time, enabling both environments to coexist and interact seamlessly.
These technologies are projected to drive the XR market to a value of $209 billion by 2022, more than eight times its current size. With such significant growth on the horizon, it is evident that the potential applications for this technology extend far beyond just video games. Industries such as aviation and defense are already exploring XR technologies for job training, especially in situations where traditional training methods can be hazardous for pilots or soldiers.
Additional applications for XR technology are currently being explored in the retail and real estate sectors. This innovative technology enables consumers to virtually tour their dream homes from anywhere in the country, offering convenience and flexibility without the need for physical visits. Similarly, in the retail industry, customers can visualize how furniture pieces will complement their living spaces before making a purchase.
As XR technology continues to advance and gain more traction, the market is poised for significant growth. We advise original equipment manufacturers (OEMs) to prepare for the potential expansion in design and manufacturing within this industry. Reach out to the experienced professionals at EPTAC to ensure your staff receives the necessary IPC certifications and training to thrive in this emerging field.
For current AR technology usage, users will need access to a smartphone or tablet, while VR and MR require specialized headsets. MR technology demands a higher level of processing power due to the real-time interaction it entails. By adequately preparing, your business can fully capitalize on the expected growth within the XR market in the years ahead.
EPTAC is an internationally recognized leader in solder training and IPC certification, providing professionals with the skills to accelerate their careers and businesses and the talent to succeed. For over 35 years, EPTAC has been helping corporations increase quality standards, improve productivity, and maximize profits.
With 24 locations in North America, EPTAC continues to expand its offerings and exceptional instructional staff to provide easy access to knowledge and skill-based programs when and where the industry demands it. Access our scheduled programs through our website or schedule your own corporate on-site training. For more information, call 800.643.7822 or contact us.
