How Augmented Reality and Virtual Reality Will Strengthen Storytelling and Revenue

It seems that nowadays new technologies and trends are emerging faster than the speed of light. It is hard to imagine a living person who has never heard of virtual and augmented reality.
Viral novelty of these trends engages us and makes it impossible to miss out on them. Just take the Pokemon Go! mania for example. This AR game took the world by the storm and shattered every possible record for app downloads anywhere, generating a whooping revenue of $ 500 000 000 for the developers. Or how about the Oculus Rift, top selling virtual reality headset, which has a lot of applications in entertainment and other industries, from VR games to virtual test drives.

But this examples are far from being the only ones to depict a successful and profitable usage of these technologies. As a relatively new phenomenon, AR and VR are still being tested for possible ways of usage. We've already heard about virtual dressing rooms and make up rooms, Google translation services, Ikea's d├ęcor galleries and some other prominent ways of usages of these technological solutions. Yet it appears that new ways to apply these techs are being discovered with each passing day.

Some media companies managed to implement AR in a stylish new way, turning their printed editions into Harry Potter-style Newspaper with moving images. This is surely a nice way to invigorate the dying printed press. Virtual museum guides and interactive Augmented reality books are already here to immerse us in the stories and history. While all these examples are quite simple and might not seem that impressive right now, they surely give us a glance of things to come in the nearest future, and there is no doubt that AR and VR will reshape the way we see the world, making us more engaged with our surroundings and giving us deep contextual understanding of our lives.
It's quite vital to understand significance of the AR and VR tech in the modern world, especially for enterprises' as it will become an essential and cost-effective work tool for improvement of pretty much every possible aspect of work process. It has the potential to improve productivity, provide hands-on experience, simplify current processes, increase available information, provide real-time access to data, offer new ways to visualize problems and solutions, and enhance collaboration. And most importantly, it helps to increase the revenue in a variety of ways.
It saves money and time while simultaneously enriches shopping experience. It's way easier for a consumer to look at a digital catalog from the comfort of their home, especially since they can 'try' product before they buy it. It will reduce returns to clothing stores. It improves logistics, AR as is exceptionally great when it comes to optimization of warehouse space and delivery processes. It helps brand recognition and raises advertising and marketing effectiveness. AR experience makes customers more engaged in a shopping process, while providing possibilities to advertise additional products.

Despite the fact that virtual and augmented reality tech is in it's infancy and there is still a long way to go before it gets a widespread acknowledgment, marketers all over the world expect the AR and VR related industry to reach hundreds of billions of dollars by 2020. It's crucial to not overlook the potential that comes with these numbers, as they underline the importance of stepping in with the current times.