Ashish Parmar is CEO of Prismetric Technologies, a premier mobile app development company and a web solutions provider embedding the latest trends and technology. Ashish takes care of Business development and operations.
Digitalization has taken the world with a revolution. And needless to say, Virtual Reality and Mobile Apps are proudly spearheading today’s digital revolution. On one hand lies the Virtual Reality that can render new and immersive experiences; on the other hand, are mobile apps that have been continuously changing people’s lives dramatically. And to be honest, both are here to stay!
Virtual Reality and mobile apps
Virtual Reality – The ‘Next Big Thing’ in the Digital World
Why I am saying the ‘next big thing’ is because Virtual Reality, though exceptionally popular today, is still in its nascent stage. However, it is anticipated to revolutionize the digital world and businesses radically. So, you can actually say VR is the flag-bearer of the digital revolution, completely transforming the way organizations deliver user experiences across their products and services. In the recently concluded Google I/O 2016, among the other major announcements the company unveiled the news about Daydream – A Revolutionizing Virtual Reality Platform that will revolutionize mobile based VR experience.
Daydream by Google, Inc.
Virtual Reality, also called ‘Immersive Multimedia,’ is a cutting-edge technology that helps simulate an environment, either real, such as underneath the ocean, or completely imaginary as in video games. However, modern businesses have taken the concept a step ahead, providing outstanding visual imagery and multimedia experiences for their products and services. The objective is to create sensory experiences, including touch, sight, smell, hearing, or even taste, to have the users feel like they belong to another world.
Despite that Virtual Reality has only been used lately for entertainment and product/service experiences; it has been widely used for flight simulations and combat training by the military. It is only recently that VR became a lucrative market, thanks to astounding technological advances, which tend to improve the overall experience dramatically. And, why it is the ‘next big thing’ in the digital world? The answer – VR market is estimated to be worth $30 billion by 2020! Here are some quick facts that reveal how fast the market is expanding, and which companies are in a better position to capitalize on the trend.
- Digi-Capital, a tech M&A advisory firm, has estimated that the Virtual Reality market will grow at a whopping rate, from practically meager figures to around $30 billion by 2020. VR movies, games, and experiences will be the key driving forces behind such tremendous growth.
- According to CCS Insight, total sales of augmented and virtual reality devices will increase from 2.5 million in 2015 to a significant 24 million by 2018. Samsung Gear, HTC Vives, Facebook Oculus Rift, and Sony PlayStation would be the market leaders.
- Research company KZero estimates that the total number of Virtual Reality users paying will increase from 4.8 million in 2016 to 28 million by 2018. The study also highlights that cheaper solution like Samsung Gear VR could rise at a faster pace than costly Vive, Rift or PlayStation VR.
- An estimate from Statista indicates that revenue from VR head-mounted displays would grow from $685 million in 2015 to $3.89 billion in 2018.
If everything goes according to the estimates, there is nothing that could beat the role of Virtual Reality technology in bringing a surge in the digital world. “Most consumers find virtual reality a mind-blowing experience the first time they try it. We believe it has tremendous potential and it’s not just about expensive high-end devices such as the Oculus Rift. For only a few dollars, consumers can dip their toes in the water with an inexpensive cardboard holder for a compatible Smartphone,” explained Ben Wood, CCS Insight’s Chief of Research. The cutting-edge digital technology will deliver growth not only in mature, high-end markets, but also in nascent markets where mobile penetration is still stronger than ever, he added.
Mobile Apps – A Breakthrough in Digital Revolution
Who could ever imagine that a simple app like WhatsApp would completely transform the way people interact and communicate today! And there are more examples, such as Instagram, Facebook, Netflix, Snapchat, Spotify, and more. The growing popularity of mobile apps clearly indicates that they rule our lives. The statistics reveal that people spend approximately 52% of total time spent on digital media on mobile apps. Smartphone users spend 89% of their mobile media time using mobile applications.
No matter what you want, there is a mobile app for it. From accessing the Internet to online shopping, comparing product reviews, checking the weather, downloading music and videos, or playing games, there is an app for it. In fact, mobile applications have completely changed human lives as people are found hooked onto these apps for several hours in a day. Quick access to relevant content, user friendly interface, and outstanding features are some facts that keep users engaged to apps. And with so many apps around, who needs to turn on one’s desktop computer at all! Such a massive transformation has certainly created a digital revolution – a trend that will continue to grow rapidly in years to come.
Let’s check out some curious facts that clearly indicate that the digital world is currently being driven by mobile apps.
- Mobile applications account for about 52% of all time spent on digital media across the world. 89% of total mobile media time is now spent on apps.
- The worldwide mobile app revenue is estimated to grow from 58 billion this year to a whopping 77 billion in 2017.
- The average time that people spent on their mobile apps has increased by 21% from 2014 to 2015. The figures are estimated to grow at an alarming rate this year.
- 85% of mobile users prefer native applications to mobile websites. Seamless access to content and user-friendly user interface are considered the primary reasons behind this trend.
Mobile applications that have surged revolution in the digital world are social networking apps, mobile gaming apps, eCommerce or shopping apps, instant messaging and chatting apps, and maps.
Experts anticipate mobile applications gaining more significance in the years to come, the primary reason being more and more consumers understanding the importance of connecting to the web, accessing quick services, and better communication. As mobile apps are on a rampage, it is a lucrative opportunity that most companies are trying to earn a competitive and cost advantage while providing better customer service.