Companies ready to invest more in XR
The willingness to invest in immersive technologies is up, and if you represent a company among those investing or preparing to invest in workforce development and training, you are not alone.
In the XR Report from December 2024, the global law firm Perkins Coie published results from a survey of 305 XR insiders, and some of the findings align perfectly with what we at Virsabi are experiencing.
XR insights
Development
XR Technology
Investments in XR and AI expected to grow
In the survey conducted in summer 2024, 59 % believed the pace of business investments in immersive technologies would be slightly higher in 2024 than in 2023. 4 % believed it would be significantly higher, and 21% expected investment to be about the same.
These findings relate to Virsabi’s experiences in today’s market.
“Only a few years back, we would build well-functioning prototypes and proof-of-concept applications, and the companies would still be reluctant to do the full investment in a full-scale application. Today, we have re-occurring customers that keep adding modules and new functions to existing XR experiences, simply because it has proven its business value,” says Michael Harboe, CEO of Virsabi.
Increase in VR for workforce development and training
In the survey, Perkins Coie also asked about expectations for how use of immersive technologies will fare in industry-specific sectors.
Not surprisingly, workforce development and training is the sector with the highest expectation to increase (89 %).
That too is in line with Virsabi’s experiences with projects for NORMAL, Finansforbundet and Carlsberg to back it up.
“We are currently expanding the applications for Carlsberg and Finansforbundet with new modules. For workforce training where things need to be done to perfection – either for safety measures or for meeting customer expectations, training in VR is second to none due to the immersiveness, the flexibility of training when and where you want, and ability to practice the same thing over and over with no risk, no additional costs, and no waste of products,” says Michael Harboe.
Read more about the report from Perkis Coie here.
