Extended Reality is creating a paradigm shift in the way we perceive the world.
XR, cross reality, or extended reality, is a catchall term for several different but related technologies. It incorporates similar acronyms like VR (virtual reality), AR (augmented reality), and MR (mixed reality). These immersive technologies merge the physical and virtual worlds to generate a 3D experience. XR tech takes the human-to-PC screen interface and modifies it, either by 1) immersing you in the virtual environment (VR), 2) adds to, or augments, the user’s surroundings (AR), or 3) both of those (MR).
Although the latest XR innovations are certainly headline-worthy, it’s been around since the 60s. During that time, American photographic innovator and photochemist, Charles Wyckoff, filed a patent for his silver-halide “XR” film, intended for photographing extreme bright light events, such as nuclear explosions. The MIT grad specialized in high-speed photography and innovations in the field of high dynamic range imaging.
Valued at $26.05 billion in 2020, the XR market is growing at an incredible rate. Experts believe XR will have a value of $463.7 billion by 2026, representing a CAGR of over 62.67%. Sales of virtual and augmented equipment are set to continue apace over the next five years, reaching around 70 million units sold per year in 2025. Sales of XR headsets tripled in 2021.
The pandemic prompted accelerated interest in the creation of virtual experiences for retail, work, and collaboration. As a result, XR experienced a significant boost during 2020 and 2021. Arrival of new technology, from 5G to advanced AI and enhanced sensor systems will only strengthen the standing of the XR marketplace.
Companies are rapidly developing supporting technologies for XR platforms, ranging from high-performance hands-free headsets to AI-enabled tools for capturing information and translating it into extended reality environments.
In the years to come, XR offerings will pop up as a sports enhancement (analyzing your ball game and providing pointers for improvement), in healthcare (blazing a path through a hospital with blinking arrows) and retail (navigating brick-and-mortar stores with AR maps).
Extended Reality builds upon the world of technology to create unique environments, experiences, and interactions. Tomestic recognizes it represents a compelling opportunity with potential to impact an audience that expects an enhanced level of interactivity and entertainment while engaging with their personal device. Our patent-pending technology generates and delivers extended reality content to physical, electronic, and audio media using deep learning algorithms, dynamic differential programming and application programming interfaces. Learn more about our offerings at tomestic.com. #extendedreality#interactiveexperience#techinnovation#paradigmshift