According to one estimation, the AR market will be worth between $70bn and $75bn by 2023, while the VR is expected to be worth between $10bn and $15bn. https://bit.ly/3gHGlk8
Businesses all around the globe are trying to enhance their products and services.
Many business verticals have planned to incorporate Virtual Reality (VR) into them to enhance the flow and their business profit.Why VR in Business flow?Advanced Consumer and Business Analytics:- With the use of VR consumers can easily evaluate the marketability, Performance as well as the quality of the products.
The marketers with this will be able to collect more robust data and can be used to improve the quality of product and loyalty among the consumers.Enhanced Customer Experience:- VR and AR allows more immersive and focused shopping experience.
Here consumer senses are engaged and with this they will be able to focus on the virtual experience without any external distractions, allowing consumers to experience the product in the virtual world environment.Interactive Marketing Strategies:- VR technology is capable of transporting people of anywhere, real or imagined.
This technology is capable of shifting marketing products and services to that world where the consumer or the investor can feel and experience the product themselves.Virtual Reality provides numbers of scopes to a variety of industries in gaining potential benefits.
Many tourism industries have already collaborated with those brands producing VR products to increase the ROI of their business.Real Estate:- With the implementation of VR in this vertical has allowed many property dealers to showcase their staging properties more efficiently.
Augmented reality is the newest form of technology that has been introduced to the world.
It can be used in many different ways, and it is growing at a rapid pace.
In this blog post, we will discuss 7 Augmented Reality trends to follow in 2021, so you are prepared for what is coming next!AR in Shopping & RetailAR is being used more in shopping and retail.
As we know, it's an immersive experience that allows customers to see what the product will look like through their phone or tablet camera and try on virtual clothes without having to go into a dressing room.Mobile AROne of the most popular apps for shopping is Wish, which uses AR to let shoppers view products in their homes and place items into a virtual cart.
Mobile gaming stores also use augmented reality features, like Apple's App Store or Steam.AR for NavigationAugmented reality is also being used for navigation.
As we know, it allows you to quickly and easily use your phone as a map by enabling the camera to detect objects in front of you and show them on the screen with directions.
Augmented reality (AR) is a technology that overlays a computer-generated image on a user’s view which connects the real world with the virtual world.
This technology enhances the perception of reality, thereby increasing the user experience and also provides data about the consumer’s immediate environment.
The virtual reality (VR) technology provides the user a virtual environment with the help of computer hardware and software and also offers a fully immersive environment where the user can interact with objects similar to those in the real world.There has been tremendous growth in the M deals, investments, and patent filings in the AR & VR from 2014 to 2015.
It is anticipated that the usage of AR and VR would provide the next major computing platform after smartphones.Magic Leap, Inc. (U.S.) filed the maximum patents as of February, 2016 among the other companies in this market.
The other companies which have been active in the patent filings include the Qualcomm, Inc. (U.S.), Microsoft Technology Licensing LLC (U.S.), LG Electronics, Inc. (South Korea), Pantech Co. Ltd. (South Korea), Sony Corporation (Japan), Intel Corporation (U.S.) among others.The research methodology used to estimate and forecast the global augmented reality and virtual reality market covers collecting of data on key vendor revenues through secondary research.
The vendor offerings are also taken into consideration to determine the market segmentation.
As human-generated data has exponentially increased on many platforms, it has become impossible for the businesses to check or interact with that data manually, here the applications of NLP take charge.For example, if a business wants to check the reviews of their new product and make inferences from it, allotting people for reading the reviews and categorizing them will be inefficient, as there are lakhs of reviews.
These chatbots can be customized for a specific market like Kotak Mahindra Bank now uses Keya as its virtual assistant.How NLP works?Making sense of the syntax is one of the most critical things for applying NLP algorithms; some of the syntax analysis methods are:Lemmatization: It means reducing the various inflected forms of a word into a single form for a more straightforward analysis.Morphological segmentation: It involves dividing words into individual units called morphemes.Word segmentation: It consists of dividing a large piece of continuous text into distinct units.Part-of-speech tagging: It involves identifying the part of speech for every word.Parsing: It consists in undertaking a grammatical analysis for the provided sentence.Sentence breaking: It consists in placing sentence boundaries on a large piece of text.Stemming: It involves cutting the inflected words to their root form.Morphological segmentation: It consists of dividing words into individual units called morphemes.Word segmentation: It consists of dividing a large piece of continuous text into distinct units.Part-of-speech tagging: It involves identifying the part of speech for every word.Parsing: It involves undertaking a grammatical analysis for the provided sentence.Sentence breaking: It involves placing sentence boundaries on a large piece of text.Stemming: It involves cutting the inflected words to their root form.Open-source libraries for NLPThere are many NLP libraries on the internet, some of the most popular libraries are:NLTK: It is the most featured library; the most used combination is nltk(Natural Language Toolkit) and python.
This library is for production usage, written in the programming language Cython; it provides the fastest syntactic parser in the market.
Although the menu of this library is limited, there are fewer choices.TextBlob: This library is an extension of nltk.
This library is suitable for smaller projects.Saas Tools for NLPPeople want to generate insights from texts, but don’t want to delve deeper into the working, some of the tools for non-technical people are:Amazon Comprehend: Amazon Comprehend is a natural language processing software that uses machine learning to look for insights and relationships within a text.
Advertising companies analyze the digital footprints of a user to predict their potential audience interested in their products.NLP software helps increase the range of channels for ad placement.Healthcare is entering a new era with NLP applications, data mining integration in healthcare systems helps doctors make more well-informed decisions and improve diagnosis, and patient treatment.Chatbots are a prime example of automation tech.
At present Augmented Reality is the leading technology in a market that leverages business to keep a strong foothold among the competitor, if you are aiming to develop a product or service you must consider the top Augmented Reality app development company.
Currently, most of the big giants are providing AR/VR development that too innovative and out of the box.
Virtual Reality is not only limited to 360 views in the cardboard-made box and the gaming experience, it helps businesses to build strong marketing strategies and train their work-force with features like rich user interface and virtually real experience.
Therefore consider hiring the top Augmented & Virtual reality development company to disrupt every changing business market with its application.
AR/VR Development at Xceltec Creating AR/VR Application from the scratch requires deep analysis and in-depth knowledge, we deliver products that have real-world uses, educate staff and consumers, and evoke emotion.
Xceltec is one of the leading Augmented Reality development companies and Virtual reality development companies that build Virtual Reality app and AR game development for enterprises that operate in many industries.
Latest market research report published on Virtual Reality and Augmented Reality provides detailed industry analysis and in-depth market data for the period from 2012 to 2024.
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