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roOomy 2019 Predictions: Augmented and Virtual Reality's Monumental Impact in 2019 & Beyond

Industry executives and experts share their predictions for 2019.  Read them in this 11th annual VMblog.com series exclusive.

Contributed by Pieter Aarts, Co-Founder & CEO, roOomy

Augmented and Virtual Reality's Monumental Impact in 2019 & Beyond

In today's digital landscape, it seems as if a new, revolutionary technology is unveiled to the market every day. While most are designed to provide innovative solutions, many are not capable of mass disruption. However, in 2018, two technologies that have redefined processes across a variety of industries and are positioned for long-term impact are augmented reality (AR) and virtual reality (VR).

Projected to reach a worldwide market size of $209.2 billion by 2022, it's clear AR and VR are here to stay. With various industries ripe disruption, including real estate and retail, 2018 was a big year for both technologies.  In their quest to deliver new, innovative, immersive experiences to consumers, real estate and retail professionals have quickly recognized the significance of the technologies, and implemented aspects of each to redefine processes and improve the customer experience entirely.

In 2019, we'll see this momentum continue, as industries across the board evolve to better meet emerging consumer demands. Here are four trends to keep a lookout for in the year ahead.

1)      AR continues to take center stage over VR

Despite the complimentary nature of AR and VR, AR continues to maintain a stronghold, due in large part to its practicality and ease of implementation. The hardware for VR remains cumbersome and isn't quite ready to scale to the degree of ubiquity that AR is capable of in terms of consumer appeal or price point. However, this is something that we may see change in the near term, as VR-based technology continues to evolve and become more accessible for the average consumer.

2)      More brands continuing to adopt AR

We're seeing AR take the retail and real estate industries by storm, with giants like Wayfair, Sotheby's International Realty, and Amazon adding AR capabilities to their websites and apps. According to a recent study commissioned by roOomy, 65 percent of consumers noted the stress of buying new furniture all at once as one of the top pain points of moving into a new space. Fortunately, consumers can now preview how their design of choice will look in their new space before hitting "buy." In addition, Gap released its DressingRoom app last year, letting shoppers "try on" clothing from the comfort of their own homes, and L'Oreal partnered with Facebook to bring AR ads to consumers, allowing them to virtually try on makeup products. In 2019, expect to see more companies across a variety of industries embrace AR capabilities to keep pace with consumers' thirst for immersive technology.

3)      AR and VR merging the physical world of real estate with 21st century tech

Gone are the days of the traditional on-site home showing where the only way to purchase a home was to physically walk through it first. Many homes are now sold without the buyer having ever stepped foot inside. The aforementioned survey found that a whopping one out of five consumers did so, and this is especially true for foreign and millennial buyers, who are embracing technology like VR home tours and AR virtual staging, showing what their desired furnishings might look like inside the home before purchasing, sight unseen.

4)      Content is king

Just as major real estate companies are making significant moves with virtual staging, it's imperative that retailers also turn to 3D modeling and CGI services to begin to create the content necessary to actually build and leverage AR and VR tools. Retailers can also opt to outsource modeling and rendering services, or appoint internal resources to virtualize their 2D product catalogs into 3D models. Taking this next step will allow retailers to greatly enhance the customer experience-and stay ahead of the competition.

What's Next?

While some industries are slow to adapt change, AR and VR are going to shake up traditional, outdated processes and bring significant value to both companies and their customers. While real estate and retail have paved the way, we'll soon see the technology disrupt nearly every market across the globe. Innovation is limitless for these virtual platforms, and as new capabilities and solutions continue to be introduced, it's evident that AR and VR will have a monumental impact for years to come.

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About the Author

 

Pieter Aarts, roOomy Co-Founder & CEO

Pieter Aarts, co-founder and CEO of roOomy, pioneers roOomy’s momentous efforts to continue to lead the world in 3D, augmented and virtual reality technology in the interior decorating space. Bringing more than 25 years of diverse industry experience to the roOomy team, including entrepreneurship, management, and sales, Pieter knows a thing or two about strategically driving success. His passion for proactively seeking the cutting-edge drives roOomy’s mission of helping Real Estate professionals and home buyers visualize a home’s space through the power of 3D, AR and VR. Born in the Netherlands, he is a traveler at heart. 

Published Thursday, January 24, 2019 10:02 AM by David Marshall
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