Virtual Reality Vs Hybrid Reality

The culmination of virtual reality and hybrid reality is opening new avenues of opportunities as the metaverse revolution is all set to take the business world by storm

The space of digital innovations is witnessing change at a frantic pace. The newest concept on the horizon is metaverse technology, a blanket term used to describe interconnected digital universes. The technology also signifies the intersection of virtual reality (VR) and hybrid reality (HR) to offer a vibrant and immersive digital experience to users.

On paper, VR and HR might get used interchangeably but in reality, these new-age innovations are different and play separate roles in extending immersive metaverse experiences to consumers. In this article, we are going to take a deeper look into significant aspects of VR and HR and how these technologies are shaping the growth and future prospects of digitally connected universes.

What is virtual reality (VR)?

Let’s start things by discussing the technology that you might have come across before. VR represents one of the most exciting categories that has rapidly evolved in the last couple of years. VR started its journey from the entertainment and gaming sector and now in its evolved form, it is extensively used to transform product and service categories across industries. Specifically, VR today is used as an effective tool for collaboration and helping professionals to learn and hone their skills in a faster and more efficient manner.

According to industry estimates, the total market value of the sector is expected to reach $185 billion by 2026. This growth will be driven by the new demands in the entertainment sector as well as the rising clamor for more immersive and interactive digital experiences in different industries . With the help of VR, companies are able to offer a completely new, immersive experience to users. It allows organizations to come up with a completely new virtual world that is driven by computer simulations. You walk into the world of VR and you feel as if you have entered a new planet or galaxy.

VR depends upon the new age technology equipment such as spatial audio and headsets to immerse users in a completely new digital world. All these equipment come equipped with sophisticated sensors and control technology which allows them to interact with the digital environment in real-time.

What is Hybrid Reality (HR)?

Also referred to as mixed reality, HR lies in the middle of the spectrum of immersive digital space. Unlike VR which takes users to a completely new digital space, HR allows the interaction between the users and the digital content in a more realistic setting. This interaction is often achieved with the help of gestures that move things around in digital settings. HR also opens opportunities for the holoportation (3D models of people that can be transmitted to any part of the world) that can literally change the way the communication, repair, and maintenance operations run across industries.

While researchers are still exploring the immense potential that HR could potentially unfold, the strength of the technology lies in its ability to mix the real-world environment with the digital space. For example, technicians can use HR to find the ideal state of product/services and then interact with the user manual to decide the next step in the installation or repair process. In sum, HR is likely to become a valuable tool for on-the-job training methods owing to its ability of accessing both digital information and real-life scenarios.

Metaverse: Growth engine powered by Virtual Worlds

Metaverse is being touted as the next growth engine for the digital economy. The term is used to describe a web of interconnected virtual worlds and to access the platform you require VR apps and headsets among others. In terms of scope of application, metaverse has already started finding favor with clients across industries. From gaming and entertainment to retail industry and from consumer durable to the automobile sector, companies are jumping on the bandwagon and for a good reason.

Metaverse is opening a range of opportunities for organizations and helps them in saving a lot of money on training and development, marketing and sales, communications and negotiations, and inter-functional coordination and collaborations. As the research on the potential of the metaverse gathers more steam now, new stakeholders have started emerging on the horizon. New ecosystems

are churning and the disruption in the existing systems is leading to more efficient business frameworks. In fact, it won’t be an exaggeration to say that evolution of the metaverse is helping companies to become more proficient in both their functional procedures and operating mechanisms. This, in turn, will help companies to grow at a desirable pace while bringing more profitability and margins for stakeholders.

The coming together of VR and HR can do wonders for the growth of the metaverse platform, especially at this point in time when the concept is new and fledgling in both its scope and applications. The adoption of a practical approach towards the metaverse is absolutely mandatory at this crucial juncture and to that end, the thoughtful use of VR and HR technologies can really come in handy. While VR can prove more useful to enhance the fun and entertainment quotient among the youth, HR can effectively find favor with institutional clients looking for practical and realistic solutions for their business needs.

(The given article is attributed to Tushar Gandotra, Founder and CEO, FiEx and has been created exclusively for BW Disrupt website)

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