Digital disruption is opening the door to tremendous opportunities, and most organizations have already seen the benefits of innovation and are actively seeking ways to continue to capitalize.
This next wave of innovation is poised to be as disruptive to business and everyday life as the dawn of the internet.
The opportunity is clear. The ability for organizations to innovate and optimize their transformation in harmony with the waves of disruption is less clear. Weaving through the bureaucracy and red tape attached to large corporations tends to stifle and slow innovation, and most organizations struggle substantially with this challenge. What hangs in the balance is the stability of their future: since 2000, a whopping 52% of fortune 500 companies have either been acquired, gone bankrupt, or ceased to exist due to digital disruption.
That’s where we come in! Partnering with a consulting agency that not only understands the progression and implications of Industry 4.0-but strategically develops and deploys custom mixed reality software solutions to capture this opportunity–will set any organization up to ride this wave of innovation to its pinnacle.
Extended reality–mixed reality, augmented reality, and virtual reality–along with artificial intelligence, the Internet of Things, blockchain, and the other technologies that are driving Industry 4.0 are all home run investments for any organization. The average return on investment from implementing mixed reality solutions is 177% according to Forrester. Achieving this level of ROI hinges on an informed mixed reality consulting strategy that achieves sustainable results.
How we interact with digital information is shifting away from screens and towards wearable devices that track eye movement, hand gestures, and emotional responses. These technologies will transform the retail consumer experience, providing brands a distinct advantage heading into this next wave of computing. As with any new technology innovation, having the correct guidance from a consulting partner is crucial in implementing emerging technology strategies.
The extended reality hardware landscape is currently comparable to the Wild West or the PC industry in the 90s. Big Tech is allocating significant portions of their research and development funds into augmented reality, mixed reality, and virtual reality (AR / MR / VR). To validate this point: Meta Reality Labs recorded a 22Q2 loss (spend) of $2.8B & Microsoft acquired Activision for $68.7B. Putting this into layman’s terms, the race is on for Big Tech.
What does this mean for the future of the extended reality wearable device market?
Meta recently announced a $100 price increase on their year old loss-leader VR headset, the Oculus Quest 2. The Meta Quest Pro has also been leaked and is expected to be officially announced in October 2022. This device is rumored to be the same as “Project Cambria” which will utilize video passthrough to be both an VR and MR headset.
Developing affordable wearable mixed reality headsets is a current challenge facing Big Tech. The more advanced headsets come with a hefty up front price tag. Units such as the HoloLens 2 ($3,700 - $5,199), Varjo XR-3 ($6,495 + $1,495/year), and the newly released Magic Leap 2 ($3,299 - $4,999) are a few of the top competitors in the market.
The Microsoft HoloLens 2 is the current enterprise leader in the mixed reality headset market. Over half of Fortune 500 companies have purchased at least one HoloLens unit. Apple is rumored to be just around the corner from an announcement regarding their new mixed reality headset. Reportedly named “Apple Reality Pro”, this mixed reality headset expected to come out in 2023 will rival and compete against the HoloLens 2, Varjo XR-3, Meta Quest Pro, and Magic Leap 2.
Mixed reality is the merging of the digital and physical worlds. This new reality is rapidly approaching consumer life. Enterprise is currently leading the adoption wave at the moment because of the significant hardware costs that come with any new, emerging technology. MR technology is based on advancements in graphical processing, computer vision, display tech, input systems, 5G and cloud computing. As mixed reality headsets evolve from enterprise to consumer use, having a solid mixed reality consulting strategy will ensure your business is at the forefront of this new technological shift.
