2019-02-12 10:36
by Samira Khodaei

What potential is in VR?

We provide an overview of the most important VR studies

Capgemini, Gartner, GoldmanSachs, KPMG and McKinsey. They all calculate, analyse, interview experts and announce papers on how successful VR might become in the upcoming years. The prospects sound promising: more than 19 billion US dollars in global sales of virtual reality in 2021 is mentioned [Statista]. It is even assumed that there will be around 80 billion by the year 2025 [GoldmanSachs]. Other surveys have identified the highest savings in the manufacturing, automotive and real estate sectors [KPMG]. According to a trend survey, AR will be more important in the future than VR [BVDW]. In Germany, investments in VR and MR by German companies are expected to amount to around 850 million euros in 2020. The major share of this will go to software applications. For the year 2018, it was estimated that 541 million revenues would be generated in the B2B environment [Deloitte].

Technology is not a force of nature - it is developed by people for concrete problems of other people. Between all these figures and statements we, vr-on GmbH, are at the forefront of daily customer contact with our customers in order to let these scenarios become reality. And last but not least, we always balance between disillusionment and the wow effect that VR applications bring with them. Developing VR today means trying out many things and learning again and again how people interact with each other.

Numbers over numbers in connection with VR/AR technology. But what do these numbers say? We have compiled what we believe to be the most important nine studies on potentials in VR and evaluated their significance. In the following table you will find an overview of the studies sorted chronologically.

 

Date

Source

figures/ summary

 

data base

september 2018

Capgemini

There are statements about what savings potential companies have. With Boeing's use of AR, technicians were 40% more productive and production time could be reduced by 25%.
At Ford, VR was used, resulting in a 70% reduction in workplace injuries. In addition, 90% of the ergonomic weights in the workplace design could be reduced.

 

 

Managers from over 700 companies were surveyed, of which around 600 have already experimented with AR/VR or regularly implemented applications. Around 35 use cases were also evaluated.

july 2018

BVDW

Approximately 54 percent of the marketing experts surveyed see a high relevance of VR/AR technology in corporate strategy. While AR is considered to be more relevant (49%) than VR (21%), 29% of the companies see no relevance. The most important application areas are production, marketing, visualization, product development, training and e-learning.

 

 

The data was collected through a survey of around 114 marketing experts, mainly from the media and telecommunications. The survey ran from 30.04-14.05 2018.

 

february 2018

Gartner

Less a number, because an exciting graphic is provided by Gartner. It's the Gartner hype cycle. This analyzes various technology trends and arranges them on a hype cycle. Here the attention of a topic is classified over a certain period of time on a graph. Here there are 5 sections. The technological trigger, the peak of "exaggerated expectations", followed by the "valley of disappointment" to the "path of enlightenment" to finally the "plateau of productivity". VR technology is currently located between the "Path of Enlightenment" and the "Plateau of Productivity".

 

 

Since these data serve as a basis for the assessments of various technology experts, Gartner's annual hype cycles are of great importance.

february 2018

McKinsey

Based on Goldman Sachs' estimates, McKinsey also estimates annual growth of 50% through 2025, with about half of revenues expected in the creative industries. The creative industry is divided into video games, live events, video entertainment and retail. Another exciting number is the time users currently spend on screens, which has increased continuously in recent years.

 

The data collection is again based on figures from Goldman and Sachs, discussions with experts and the World Economics Forum.

 

january
2018

Statista

$19 billion in global virtual reality revenue in 2021 - Currently, global revenue for 2018 is estimated at $4.5 billion. Approximately 9.6 million devices are expected to have been sold by 2017. For the year 2022, growth of almost 620 % to around 69 million VR/AR glasses sold is forecast. (For 2018 there was a forecast of 12.4 million units, which corresponds to growth of 25 %).

 

As these are forecasts, it is exciting to compare these figures with actual figures. For example, the actual sale of VR glasses.

august 2018

RFH Köln

The question of current areas of application is also exciting: While more than half of the companies do not yet use VR (56.7%), VR/AR technology, if used in product design and training (16.7%), becomes 13.3% with production and logistics, service and maintenance about 6.7%.

 

The group of respondents was 30, which, as the study producers themselves say, is too small to draw conclusions about the population.

may 2016

Deloitte

In 2020, investments in VR and MR by German companies are expected to amount to around 850 million euros. The lion's share of this will go into software applications. For the year 2018, it was estimated that 541 million sales would be achieved in the B2B environment.

 

Unfortunately, there is little information on the data basis in the paper. The data should therefore be treated with caution.

 

april 2016

KPMG

KPMG has carried out an analysis of existing application projects and found that almost 52% of applications attributable to marketing and sales as well as usage. This is in contrast to applications that involve HR management (12%) and product development (7%). The most exciting number for us is the 7 percent of project management applications.

 

As part of the study, 400 VR/AR application examples from research and practice were tested for their relevance in the B2B sector - 260 were classified as relevant. There will then be two questions that need to be clarified.

1) Which factors (emotions, information, corporate culture and products/processes) will be influenced by the technology?

2) Which approach (customers/markets, revenue model, performance, value added) was to be used to evaluate the data?

january 2016

GoldmanSachs

Three scenarios for the development of VR. The neutral estimate says that by 2025 about $80 billion in sales ($45 billion for hardware, $35 billion for software) can be expected. 60% of the software will be aimed at the consumer.

 

The estimates are based on figures from other hardware markets such as smartphones, desktops and video games.

 

Do you have any questions or would you like to talk to us about the use of VR in your company? Then please do not hesitate to contact us, we are looking forward to hearing from you!

Go back

Copyright 2019 vr-on GmbH. All Rights Reserved.
This website uses cookies. By using our services you agree that we use cookies. More information
OK!