Optimism Around Immersive Technology Rises After Pandemic, Perkins Coie’s Survey Of XR Industry Insiders Finds | Business
SEATTLE – (BUSINESS WIRE) – July 14, 2021–
The disruption caused by COVID-19 has heightened the outlook for immersive technology, which could become even stronger as the world emerges from the pandemic, according to the fifth annual XR Industry Insider survey (formerly the Augmented Reality Survey and virtual) released today by Perkins Coie and industry group leader The XR Association.
The survey of 164 industry stakeholders involved in XR, which encompasses virtual, augmented, and mixed reality, shows that the pandemic may in fact have accelerated the industry’s momentum over the past few years. half a decade. In light of the effects of COVID-19, namely the social distancing guidelines that have forced a global shift towards remote connectivity and increased convenience and familiarity with online and virtual experiences, more than eight in 10 respondents say that investment in immersive technology will increase in 2021 compared to 2020.
“It is clear that the initial economic disruptions related to COVID-19 did not hurt the outlook for the XR industry – and the long-term effects of the pandemic appear to have heightened bullish sentiment over immersive technology,” said said Kirk Soderquist, co-chair of the Digital Media & Entertainment, Games & Sports Industry Group and Technology Transactions & Privacy Practice Partner at Perkins Coie. “These survey results reflect what we are hearing from XR traders, which is that the five to seven year timelines are accelerated to one to four years.”
“Our survey results reflect two broad categories of how COVID-19 has changed the landscape of immersive technology,” said Elizabeth Hyman, CEO of XRA. “The first category is what consumers are expected to do as the pandemic ends. The second concerns the behaviors established during the pandemic which will continue. Together, and the pandemic will have a lasting legacy in the continued evolution and growth of immersive technology. “
The survey, conducted in April 2021, was preceded and informed by group interviews with experts in the field. Overall, the results show that immersive technologies continue to expand beyond games and entertainment, with sectors like healthcare, education, retail, and human development and training. -work considered as areas of potential growth.
Strong optimism, but obstacles remain
Eighty-three percent of respondents expect investment in immersive technologies in 2021 to be higher than in 2020, up from 68% in our previous survey, which said investment in 2020 would be higher than in 2019. Additionally, 37% said investment would be significantly higher in this year’s survey, compared to 26% last year. Notably, optimism is higher for some industries; After using remote work in the past year, 95% of respondents say their organization plans to increase spending on immersive technology for better remote collaborations and training.
Jason Schneiderman, co-head of Vertical Lawyer Immersive Technology (AR / VR / XR) and Emerging Company Venture Capital at Perkins Coie, said that “Although, as the survey indicates, we have certainly seen the investments increase due to the pandemic, we were already experiencing a bull market until 2020, especially in the education and training of the workforce, as well as in the automotive and retail sectors. detail. “
The biggest barrier to mass adoption is access to software. Half of those surveyed said that developing more accessible software (not specifically when it comes to open source software or software designed for people with disabilities) to meet the needs of all users will be the main driver of adoption. by companies. For consumer adoption, respondents said the main driver was availability and access to software and open source communities (61%).
Other challenges are consistent with the results of the polls from the previous year. User experiences were cited by 65% of respondents as the main barrier to greater adoption of immersive technology, while content offerings (53%) and costs to consumers (27%) were of other obstacles.
Voices from minority and women-owned businesses
Validating some anecdotal evidence that the industry is becoming increasingly diverse, six in ten survey respondents identified as working for a minority-owned or female-owned company. As well as giving us an overview of the diverse landscape of the industry, the most notable finding is that these respondents are even more convinced than the entire survey that developers do not understand what makes content appealing to consumers, especially for minorities and women.
Results showed that minority-owned businesses were more likely to strongly agree, while respondents from female-owned businesses were more likely to agree or strongly agree. agree on the lack of compelling content. For respondents from minority-owned businesses, existing content is particularly lacking when it comes to being interactive and immersive. Additionally, respondents from women-owned businesses were more likely to believe that educational content is lacking, even though they believe the pandemic has affected the use of immersive technology in education more than any other industry. , with the exception of marketing and advertising (the entire survey chose health care).
Use of immersive technology inHealth, education and fashion are changing
Respondents to last year’s survey, conducted in January 2020, said healthcare was the industry most likely to be disrupted by immersive technology. COVID-19 proved them right and the industry was also the one (outside of games and entertainment) that this year’s respondents said will be most affected by the pandemic. Marketing and advertising came next, although in last year’s survey it was not an area, according to many respondents, for disruption caused by immersive technology.
The pandemic also appears to have strongly affected the prospects for immersive technology in two other sectors: education and fashion. Immersive technology was viewed by 97% as a major contributor to significant advancements in education through 2026, with 63% strongly agreeing. Immersive experiences in retail, especially in fashion, are already on the rise due to the effects of COVID-19 – 89% of respondents agree that fashion and retail present great opportunities for immersive technology .
About Perkins Coie LLP
Perkins Coie is a leading international law firm that is known for providing high-value strategic solutions and extraordinary client service on issues vital to the success of our clients. With more than 1,200 attorneys in offices in the United States and Asia, we provide a full range of corporate, commercial litigation, intellectual property and regulatory legal advice to a wide range of clients, including many of the world’s most innovative companies and industry leaders. as well as public and non-profit organizations. Perkins Coie’s vertical Immersive Technology (AR / VR / XR), part of the newly launched and redesigned digital media and entertainment, games and sports industry group, advises XR technology pioneers in creating immersive worlds for games, education, healthcare, and beyond. With an “all-inclusive” commitment to the industry, our lawyers advise market leaders on immersive technology, products, services and content. The lawyers in this group help meet the business and legal needs of our clients by focusing on and leveraging the firm’s collective experience in the transformative convergence of the digital media and digital entertainment, games and sports industries. .
About the XR association
The XR Association promotes the dynamic global growth of the XR industry, which includes virtual reality, augmented reality, mixed reality, and future immersive technologies. XRA paves the way for the responsible development and adoption of XR by bringing together stakeholders, developing best practices and research, and advocating for the interests of our members and the entire XR industry.
The XR Association represents the broad ecosystem of the XR industry, including headset manufacturers, technology platforms, component and peripheral companies, internet infrastructure companies, enterprise solution providers, and end users in business. The founders of XRA are Google, HTC Vive, Microsoft, Facebook’s Oculus, and Sony Interactive Entertainment. To learn more about joining XRA, visit xra.org/joinus.
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Justin Cole, [email protected]
KEYWORD: UNITED STATES NORTH AMERICA WASHINGTON
INDUSTRY KEYWORDS: OTHER WOMEN’S CONSUMPTION OTHER TELECOMMUNICATIONS SOFTWARE TECHNOLOGIES INTERNET NETWORKS OF FASHION HARDWARE Electronics DESIGN AUTOMATION FOR HEALTH MANAGEMENT OF MOBILE RETAIL ELECTRONICS CONSUMER / WIRELESS LEGAL SECURITY TECHNOLOGY SEMI-LESSON PROFESSIONAL PHOTOGRAPHY SECURITY SEMI-LESSON PHOTOGRAPHY TECHNOLOGY MOBILE ENTERTAINMENT AUDIO / VIDEO GENERAL HEALTH OTHER GAMES ELECTRONIC ENTERTAINMENT EDUCATION
SOURCE: Perkins Coie LLP
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PUB: 07/14/2021 18:06 / DISC: 07/14/2021 18:06