More than Hype: Extended Reality is Transforming Industries in Unexpected Ways

XR has already shown its potential to revolutionise several industries. There are still many ways it can be used to change the world around us. Here are some innovative and unexpected ways in which XR can do things that we might not be thinking about today.

Healthcare

XR can transform healthcare by allowing doctors to perform remote surgeries and enabling medical students to practise in a safe and controlled environment. Additionally, XR can help patients with mental health conditions by creating immersive experiences that aid in therapy. A study conducted by the University of Cambridge found that exposure therapy using VR is an effective treatment for patients with arachnophobia, fear of heights, and claustrophobia.

Education

XR has the potential to transform education by creating immersive and interactive experiences that can't be replicated in a traditional classroom. For example, XR can transport students to historical events, explore the human body in a 3D environment, or visit the solar system. A study by Metaari estimates that the global market for XR-based education products will grow from $0.8 billion in 2016 to $6 billion by 2023. 

Tourism

XR can be used to enhance the tourism industry by creating immersive experiences that allow visitors to explore destinations from their homes. This can help attract tourists to less-known destinations and provide a more comprehensive understanding of a location's cultural significance. According to a report by Grand View Research, the global AR and VR in the tourism market size is expected to reach $11.6 billion by 2025.

Retail

XR can transform the retail industry by providing customers with immersive experiences, such as virtual storefronts or dressing rooms. This can help businesses reach a wider audience by providing a unique shopping experience and by reducing the costs associated with maintaining a physical store.

Real Estate

XR can transform the real estate industry by providing customers with immersive experiences, such as virtual tours or walkthroughs of properties. This can help buyers make informed decisions without physically visiting the property, saving time and money for both buyers and sellers. According to a report by Goldman Sachs, the VR and AR market in real estate is expected to reach $2.6 billion by 2025.

In conclusion, XR has the potential to transform several industries in unexpected ways. By creating immersive experiences, XR can revolutionise healthcare, education, tourism, retail, and real estate. The statistics prove that XR is not just a buzzword but a technology that is changing the world around us. As XR continues to evolve, it's exciting to think about the many innovative ways that it will transform our lives.