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Is starting up with virtual reality useful for businesses?

Sharika S Nair
17th Mar 2017
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When Facebook acquired Oculus VR in March 2014, the world took note of virtual reality and its opportunities. VR has come and gone several times in the past but is now providing huge opportunities for businesses that use this technology to make a difference. But the investments and costs involved are often a cause of concern. There are several promising applications with respect to virtual reality that need not necessarily be heavy on the pocket. Using virtual reality can, in fact, make things a lot faster and convenient. Here are a few areas wherein it can define the future of business.

Image : shutterstock

Image : shutterstock

Customer retention

VR interactive devices can enable customers to get a feel of the products being sold, which is vital to make a purchase decision. VR devices can also entertain customers and give them a whole new experience like never before. This will also ensure customer retention and loyalty.

Healthcare

With the advancement in healthcare IT technology, VR has the potential to penetrate into the healthcare market. There are various fields where in all of them can prove to be a market for VR- surgery, neuroscience, imaging, mental health, and several more. This technology will also enable surgeons to practise complex procedures in advance.

Gaming

If not for VR, the gaming industry probably wouldn’t be where it is today. Making a virtual reality game is seen as an upcoming opportunity for tech- savvy entrepreneurs. Though it will have its fair share of trials and errors, the rewards will be tremendous. VR will provide a new gaming experience.

Engineering

Engineers design, test, and do much more. The current platforms used for engineering can get a boost by using VR technology. Simulation solutions that are flexible and affordable can be provided and design processes can be elevated. This will prove to be a big opportunity for VR innovators as well.

Education

The application of virtual reality in education seems to be endless. Being one of the sectors with the highest impact, virtual classroom environments have the potential to become major influencers. Students can also gain the opportunity to visit several areas of historical importance without actually having to go to a particular place. Virtual reality is expected to transform education. A higher quality of education will lead to higher profits that will benefit VR innovators.

Virtual reality is definitely an area that is proving to be beneficial to a variety of businesses. With its ability to improve just about anything, starting up with this technology will be a very wise decision to make today!

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