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VR/AR: A Hotbed of Innovation Using CPaaS

Posted by Allison Boccamazzo on December 27, 2017 at 1:03 PM

Snapchat, Pokémon Go, Samsung Gear - do you know anyone using these apps? They’re all massive commercial advancements in virtual reality (VR) and augmented reality (AR). Just how big, exactly? Consider that Pokémon Go experienced over 7 million downloads within its launch week, compared to 2.2 million for Angry Birds 2. Meanwhile, Snapchat saw an increase of 30 million users between 2016 and 2017 alone.

VR/AR: A Hotbed of Innovation Using CPaaSThese technologies are rapidly growing, yet there is still so much untapped potential in these markets. If you ask us, this opportunity can be seized using Communications Platform as a Service (CPaaS). This cloud-based platform allows developers (or anyone, for that matter) to integrate custom communications into mobile and Web-based applications. When combined with VR and/or AR, companies can drive innovative new customer and business outcomes.

In the finance industry, where the AR/VR market is expected to be worth $80 billion by 2025, research has found that customers who are shown an augmented version of themselves at retirement age are likely to save twice as much money. This is hugely beneficial, considering that one in three Americans have nothing in their retirement savings.

Imagine creating an app that targets this need, with the ability for users to instantly connect with live service professionals via real-time chat, video or voice. Especially consider these benefits for millennials: 79 percent are confused by retirement planning, yet this generation is expected to produce nearly half of all U.S. income by 2025.

There’s no doubt that VR and AR take customer experience to exciting new levels. These possibilities can be made more effective and profitable, however, with the addition of real-time communications via CPaaS.

Have some ideas on how you can start working Virtual and Augmented Reality technology? Sign up for an account and start building today!

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