Virtual Reality – The Saviour of Businesses in COVID-19

Virtual Reality – The Saviour of Businesses in COVID-19

May 16, 2020 0 By admin

Right now, the whole world is battling against COVID-19 and it has changed the life of every living organism. Every business across the world is facing its downtime due to quarantine and recession.

Everyone wants to get rid of this pandemic as more than 50% of small businesses are closed or going to be closed in the coming months. Talking about China, from where all this started, it has closed 460,000 businesses in the first quarter. 

There is a significant impact that this pandemic has made on financial markets and industries like manufacturing, tourism, hospitality, and travel. Due to 10% drops in the travel and tourism industries, more than 50 million jobs are at risk globally. 

But not all the companies are living in the fear of Corona; they are seeing this period as an opportunity and adapting the situation like a chameleon. Also, they show the apt way for businesses to make it through this pandemic i.e. Digitalization and we all know what Digitalization is.

All industries and companies are adopting video conferencing tools to communicate and provide remote work to their employees. Delivery apps are seeing the boost in the downloads, mainly the Grocery stores. Universities and schools are offering virtual learning to their students.

One primary type of technology is jumping back in the spotlight during the pandemic: Virtual Reality. Here are some ways businesses are using and can use this technology to survive and thrive during corona virus.

Virtual Reality rises as an option during this pandemic and has been proved effective for businesses. 

What is Virtual Reality?

The name itself tells most about what it is actually; it’s an experience of a world that does not exist. The 3D technology makes you believe that you are there mentally and physically.

The best examples are 3D movies that take you to the new world but, while you were sitting in the theater in real life. 

Well, now the question is, How will it prove to be handy for a business?. Let’s have a look at some of the major industries where this technology can do wonders for businesses meanwhile the Corona outbreak. 

VR for Real Estate

COVID-19 has turned out to be a disaster for the real estate market. But, VR comes as a ray of hope for the owner’s meantime the pandemic. 

As per the forbes.com, Chinese company Beike comes with the unique idea of using VR to allow customers to take a virtual 3D tour of properties. It’s going viral and 4 million houses are listed on this VR platform with over 660 million users.  This idea allow users to buy any home or property without breaking the quarantine rule  

VR for Trade-shows and Events

In the quarantine culture, the trade-show industry faced the $2.5 trillion loss. This was the peak session for the exhibitions and event shows but got canceled due to the Corona outbreak.

However, the tradeshow industry and other businesses can adapt the Virtual Reality technology to survive. It could be the best option for the industry right now. VR based platforms can easily shared with global users on their places.

Using VR can allow users to take part in the exhibition using the conferences virtually. VR platforms can give a 360-degree view, easy to adapt to the industry. 

Endless Possibilities

This is just the little overview of the VR uses, the benefits and the impact of Virtual reality on businesses is endless. Amog all the sectors It can be handy especially in healthcare industry. Where doctors can use this to see even the tiniest details about the patient’s condition.

In education sectors, the traditions of online classes are increasing and VR can help students to boost their knowledge. 

The conclusion is that digitalization has become compulsory in every field. If this, Corona pandemic has ended the standard custom of business, it also has opened the new door of possibilities. Digitalization is going to be the need for every hour for every business. 

Businesses needs to outline its product models and find the simplest way to reach their potential customers straight to their homes.