VR headset sales in the U.S. will reach 2.5 million units this year, a 79% increase over last year, according to Consumer Technology Association (CTA). This is a clear indication that VR isn’t just for gaming anymore, and multiple industries must take notice. The same consumers using VR at home may very well be your next decision-making prospect in the business world.
Since VR is far from a mature, mainstream technology, it could be said that every industry is underusing it. However, our experts have identified 5 that could experience the greatest ROI upon implementing the technology.
Industries that could increase ROI with VR
At car shows, we’d like to see more VR exhibits that go beyond race simulators or game-like experiences. Imagine a large automaker providing 360°, detailed walkthroughs of a vehicle—with no vehicle onsite. In fact, the car hasn’t even made it beyond a digital existence. By providing consumers with a fully immersive VR experience of future vehicles, automakers can capture valuable feedback before concepting a physical product. What do consumers really think of the digitally designed body, hood, cabin, control panel, fender, gadgets and bezel? That’s valuable data that usually comes after big dollars are put into a physical concept.
2) SMB sales
Most small and midsize businesses don’t often have money to burn. Due to the high cost of travel, this presents a problem if showcasing their product in person is key to getting sales.
The next best thing to being there may be VR. Since VR offers an immersive, high-sensory experience—engaging prospects and enabling them to walk through solutions like no other medium—it may be a great play for SMBs looking to expand their reach. Imagine the virtual, client-centric customization and branding opportunities—without the cost of travel. If your hot prospect doesn’t own a VR headset, send them one. It’s much cheaper than putting your team on a plane. Prospects who aren’t accustomed to VR technology will especially appreciate the freshness of your sales pitch.
Students have traditionally read and heard about world history, but unless they have the means to visit global landmarks, most have never been fully immersed in it. This presents a rich opportunity for schools to bring history to their students.
Second only to being there, VR enables educators to take students on high-sensory, 360° “field trips” to historical sites, such as The Parthenon, The Great Wall of China, Machu Picchu, The Egyptian Pyramids, Taj Mahal, the Colosseum and Stonehenge. There’s also much to learn by exploring memorial sites such as Auschwitz, Normandie and Hiroshima.
But what about cost for cash-strapped schools? Financing VR equipment is a great way for educators to use the technology right away while paying for it over time. At the end of the financing term, the school owns the equipment for future use.
When tickets went on sale for the 2018 boxing “super fight” between Floyd Mayweather Jr. and Conor McGregor, fans were forced to spend thousands just to get a ticket. What if fans could consume the high-sensory realism of the fight—but at the cost of pay-per-view—with a 360°, live-streamed experience on their VR headsets? After all, the fight recorded the second highest pay-per-view buy rate in history—doesn’t VR want a piece of that pie?
Perhaps the next super fight will be VR-enabled, as the NBA, NASCAR, MLB and other professional sports have experimented with VR broadcasts. What about the NFL? Since less than 1% of Americans will ever attend a Super Bowl, perhaps that’s the next massive sporting event to capitalize on VR.
Much like flight simulations for pilots, dental simulations have long been present in dental schools. However, they’re extremely expensive and, traditionally, are more about screens and less about 360°, high-sensory VR experiences. Implementation of VR glasses could create a fully immersive environment with real instruments and real-time feedback for students. Compared to the costly simulator systems, VR could also reduce the cost substantially.
If your customers are interested in financing VR technology, Ingram Micro has affordable solutions available. Connect with us at email@example.com to learn more.