Business opportunities for virtual / augmented / mixed reality

Abstract

Immersive technologies such as Virtual, Augmented and Mixed Reality are among the most talked up terms in todays technology journalism. The mostly utopian promises forecast a major platform shift that might revolutionize the way in which we interact with technology. The large tech companies invest vast amounts of money in the technologies and see it as a placeholder for a future in which immersive technologies have developed far enough to have the disruptive potential to become the next big computing platform. Despite big promises, sales figures of Virtual Reality headsets and Augmented Reality glasses remain underwhelming due to technical shortcomings and the fact that feedback from consumers remains reserved or even indifferent. Since the 1980s, Virtual Reality has persistently returned, each time with idealistic promises and each time it has ultimately failed. The paper asks the question whether the current boom is sustainable and will ultimately lead to a widespread adoption of the technologies. Several opinion leaders in the industry were interviewed and asked about their past experience with Augmented, Virtual and Mixed Reality. Conclusions are drawn about the potential in key industries such as Automotive, Retail / Consumer, Healthcare / Medicine, Technology / Media / Telecom, Industrial Products, Hospitality / Leisure and Education / Training in the context of technology adoption and technological competence leveraging.