AR – Tech | Business | Economy https://techeconomy.ng Tech | Business | Economy Fri, 02 May 2025 13:52:03 +0000 en-GB hourly 1 https://wordpress.org/?v=7.0 https://techeconomy.ng/wp-content/uploads/2025/06/cropped-256Px-32x32.png AR – Tech | Business | Economy https://techeconomy.ng 32 32 Immersive Technology Market to Surge to $228 Bn by 2032 https://techeconomy.ng/immersive-technology-market-to-surge-to-228-bn-by-2032/ https://techeconomy.ng/immersive-technology-market-to-surge-to-228-bn-by-2032/#respond Fri, 06 Dec 2024 12:31:37 +0000 https://techeconomy.ng/?p=148976 The Immersive Technology Market size is projected to expand at over 24.5% CAGR from 2024 to 2032. Significant advancements, such as virtual reality (VR), augmented reality (AR), and mixed reality (MR) are expanding the range of applications of immersive technology across gaming, entertainment, healthcare, education, and enterprise.

The increasing consumer demand for immersive experiences, driven by the desire for realistic simulations and interactive content, is driving the industry growth.

The integration of immersive technologies into various business processes, including training, marketing, and product development, is attracting enterprises seeking innovative solutions to engage customers and improve operational efficiency.

For instance, in April 2024, India entered the forefront of technology by inaugurating its first Metaverse Experience Center in Noida, marking a significant leap into the future.

Declining hardware costs, coupled with improvements in content quality and user experience, are other factors augmenting the market development.

The immersive technology industry is segregated into component, technology, application, industry vertical, and region.

In terms of component, the market size from the software segment is slated to showcase significant growth from 2024 to 2032, due to the development of innovative applications, content creation tools, and simulation software.

Immersive Technology Market
Immersive Technology Market [Source]
Strong advancements in rendering techniques and real-time graphics are enhancing user experiences.

The availability of software development kits (SDKs) and platforms for creating immersive content also lowers barriers to entry, encouraging more developers to contribute to the ecosystem.

Immersive technology industry from the augmented reality (AR) technology segment is estimated to rise at notable rate up to 2032, on account of increasing adoption in industries like retail, healthcare, and education.

AR technology offers interactive and immersive experiences while enhancing customer engagement and learning outcomes.

Significant developments in AR hardware, such as smart glasses and mobile devices are also improving accessibility and usability.

The development of AR software applications for various use cases is further fueling the segment growth.

Regionally, the Europe immersive technology market size is expected to record robust growth from 2024 to 2032, owing to the increasing investments in AR and VR technology across sectors like gaming, healthcare, and automotive.

The supportive government initiatives are driving the collaborations between technology companies and research institutions.

The growing demand for immersive experiences and the adoption of immersive technologies in training, education, and entertainment sectors will also boost the regional industry expansion.

[Featured Image Credit]

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Building Inclusive User Interfaces in Emerging Technologies https://techeconomy.ng/building-inclusive-user-interfaces-in-emerging-technologies/ https://techeconomy.ng/building-inclusive-user-interfaces-in-emerging-technologies/#respond Sun, 05 Nov 2023 14:01:21 +0000 https://techeconomy.ng/?p=153760 New frontiers like Augmented Reality (AR), Virtual Reality (VR), and Spatial Computing are expanding the possibilities for digital experiences since technology is advancing at an unmatched rate.

Business, healthcare, education, and entertainment are all being converted by these developments but everyone must be able to benefit from them, especially those in third-world nations.

Inclusive UX (user experience) is now a necessity rather than a luxury in order to close the digital gap and ensure that emerging technologies serve everyone worldwide.

Virtual Reality, 5G potentials
Virtual Reality – Source: Northpad Nigeria

In many underdeveloped countries, accessibility problems in digital experiences are often associated with budgetary constraints, infrastructure limitations, and technological literacy.

It is difficult for many individuals to participate in typical AR/VR interactions since high-speed internet, new technologies, and advanced computer power are not widely available. But these technologies have the potential of redefining access to healthcare, education, job training, and more if they are developed with inclusivity in mind.

One of the most important aspects for inclusive UX in emerging technologies is device adaptability. Customers with low-cost devices or limited processing power are unable to use AR/VR apps because many of them are made for high-end technology.

Developing WebAR-enabled AR applications that are portable and don’t require expensive headsets can improve accessibility.

Similarly, a wider audience can be reached by making VR content compatible with inexpensive mobile VR devices rather to expensive headsets like the Apple Vision Pro or Meta Quest.

The optimisation process of low bandwidth is another important aspect. Many third-world nations have slow, costly, or unreliable internet connectivity.

Experiences with spatial computing that primarily rely on cloud computing or real-time streaming could put off users in these regions.

By employing offline capabilities, compressed files, and progressive loading techniques, developers can counteract this and allow users to engage with immersive experiences without constantly requiring high-speed internet.

Both linguistic and cultural accessibility are crucial for developing inclusive AR and VR experiences. The fact that English is usually utilised as the default language when creating new technology products may turn off non-native speakers.

Voice-guided interactions in many local languages, AI-powered real-time translation, and culturally relevant user interface elements can all help boost user acceptance.

Additionally, to accommodate the unique learning requirements and circumstances of users in various locations, spatial computing applications intended for education and skill development should be localised.

Depending on how they are invented, AR, VR, and spatial computing can either empower or severely restrict individuals with disabilities.

People with mobility disabilities can connect in a number of ways as a result of adaptive input techniques like haptic feedback, gesture-based navigation, and voice instructions.

High contrast graphics, screen reader compatibility, and audio descriptions to help visually impaired persons navigate digital surroundings should all be features of augmented reality experiences.

In a similar vein, immersive settings ought to take into account spatial audio design that offers navigational signals.

In poor nations, cost is frequently the biggest obstacle to adoption. In order to ensure accessibility, collaborations between IT companies and educational institutions, NGOs, and local governments can be extremely important. Initiatives that supply open-source or inexpensive software, recycle or subsidise obsolete AR/VR equipment, and integrate immersive learning into public schools can make a big difference.

To create inclusive, my advise is that AR, VR, and spatial computing experiences, governments, tech companies, advocacy agencies, and educational institutions requires cooperation.

Leaders in the private sector must collaborate with legislators to support accessible innovation and advocate for more reasonably priced hardware options.

In modern technologies, inclusive user experience (UX) is about innovation, not just conformity. Developers and designers can open up completely new markets and empower millions of people who have historically been left behind in the digital revolution by creating AR, VR, and spatial computing experiences that put accessibility first.

Technology should be created for everyone, everywhere, and not just for a select few.

*Folashade Blessing Adegbite biography:

Folashade Adegbite is a seasoned product designer with years of experience across various technology sectors leading the charge in designs and user experience innovation. Her innovative spirit has made her create amazing product experiences for tech apps across Africa.

She continues to lend her voice to women empowerment conversations particularly around tech empowerment for women and how to bring the Africa of the future where technology is not alien to us but we are the ones building the tech needed for the new age.

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Apple’s Vision Pro Doesn’t Bring Fresh Ideas, says Mark Zuckerberg https://techeconomy.ng/apples-vision-pro-doesnt-bring-fresh-ideas-says-mark-zuckerberg/ https://techeconomy.ng/apples-vision-pro-doesnt-bring-fresh-ideas-says-mark-zuckerberg/#respond Fri, 09 Jun 2023 10:29:05 +0000 https://techeconomy.ng/?p=104046 Meta CEO Mark Zuckerberg has expressed his dissatisfaction with Apple’s recently announced Apple Vision Pro, stating that it does not align with his vision for the future of computing.

Before the unveiling of the Vision Pro mixed-reality headset, Meta strategically teased the Meta Quest 3 to divert attention away from Apple’s upcoming announcement.

During a meeting with employees, Zuckerberg reportedly stated that Apple’s offering did not bring anything new to the table that Meta hadn’t already explored. He emphasized the differences in values and vision between the two companies.

According to The Verge, Zuckerberg referred to the Vision Pro as a device that showcased “a person sitting on the couch by themselves,” implying that it did not align with his desired future of computing.

Zuckerberg maintained that Meta’s Quest headset is designed to facilitate new forms of interaction and physical activity, positioning it as a superior option for the future of computing.

However, he previously expressed concerns about Apple’s dominance in the virtual reality space due to its closed ecosystem, suggesting that it could negatively impact Meta both financially and in the marketplace.

Apple’s Vision Pro, which was announced on Monday, marks the company’s official entry into the augmented reality/virtual reality market. Priced at $3,499 and set to launch in 2024, the headset represents Apple’s ambitions in this space.

Despite Zuckerberg’s criticisms, Apple’s entry into the market is expected to intensify competition and further drive innovation in the AR/VR industry.

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Technology Trends & Innovations to Look out for in 2023 https://techeconomy.ng/technology-trends-innovations-to-look-out-for-in-2023/ https://techeconomy.ng/technology-trends-innovations-to-look-out-for-in-2023/#comments Tue, 27 Dec 2022 06:40:10 +0000 https://techeconomy.ng/?p=92211 The direction that technology is moving in as well as recent innovations and advancements are referred to as technology trends. A wide range of topics, including software, hardware, computer systems, mobile devices, the internet, and others, might be included in these trends. The following are some examples of recent and emerging technological trends:

5G Technology

The latest generation of mobile network technology, known as 5G, offers higher speeds and reduced latency than earlier generations.5G technology is a new and advanced mobile communication standard that provides faster speeds, lower latency, and greater capacity than previous generations of mobile technology. In Nigeria, the adoption of 5G technology is still in its early stages.

The adoption of 5G technology will increase in Nigeria in the coming years as more infrastructure is put in place and the cost of deployment and devices decreases. The adoption of 5G technology is expected to bring many benefits to Nigeria, including faster internet speeds, improved connectivity, and the development of new technologies and services.

Machine Learning and Artificial Intelligence (AI)

Although the adoption of AI in Nigeria is still in its infancy, there is much potential for it to have a significant impact on a number of different economic sectors.

Computers are now able to complete tasks that were previously deemed to be beyond their scope thanks to artificial intelligence (AI) and machine learning. Utilizing these technologies will enhance decision-making, automate procedures, and offer individualized experiences.

AI is being utilized, for instance, in the financial sector to enhance risk assessment, fraud detection, and customer service. Banks and insurance businesses, for instance, use AI to evaluate vast volumes of data and make wiser judgments.

Cloud Computing

The supply of computing resources, such as storage, processing power, and software, through the internet, is referred to as cloud computing. Businesses and people may now access and utilize these resources without having to buy, install, and maintain their own technology and software thanks to this development.

The flexibility to pay for only the resources you use rather than making an upfront investment in costly gear and software is one of the key advantages of cloud computing. This can aid businesses in Nigeria in lowering their IT expenses and improving productivity.

The Internet of Things (IoT): The term “Internet of Things” (IoT) describes how many gadgets, including smart household appliances, industrial machinery, and smartphones, are connected to one another over the internet. This development makes it possible to gather and analyze enormous volumes of data, which may then be used to boost productivity, safety, and quality of life.

Automation

Robotics and drones are two examples of automation technologies that are being used to carry out a variety of activities more quickly and accurately. It is expected that these technologies will continue to be used in a number of sectors, including industry, transportation, and agriculture.

Adopting automation technology can provide a variety of advantages, such as higher productivity, better quality, and lower prices. When introducing automation technology, businesses must carefully examine the possible effects on their staff as it can potentially result in job displacement.

Virtual and Augmented Reality

People can now experience and engage with virtual surroundings in novel ways thanks to virtual reality (VR) and augmented reality (AR). These technologies are utilized for a number of purposes, including education and entertainment.

For instance, in the healthcare sector, augmented reality and virtual reality have been used to train medical staff and simulate surgeries, enabling them to practice procedures in a secure and controlled setting.

By offering immersive and compelling experiences that can aid in physical and cognitive rehabilitation, they have also been employed to support patient therapy and rehabilitation.

Blockchain

Blockchain is a distributed ledger technology that makes it possible to store and move data and money in a secure and open manner. Many different industries, including finance, supply chain management, and healthcare, could be completely transformed by it.

Blockchain technology, for instance, has the potential to enhance voting system security and transparency, making it more difficult to tamper with election results.

 

 

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