The industrial landscape and XR technology could be perfect partners. Manufacturing companies are constantly facing increasing pressure to deliver innovative new products and solutions at a rapid pace. Meeting growing demand requires these companies to constantly invest in better teams, processes and technologies.
Extended Reality has the ability to transform virtually every part of the industrial space go-to-market strategy. From creating and exploring new product opportunities in virtual reality, to supporting teams through augmented and mixed reality, the opportunities are endless.
As the XR market accelerates, its growth at a rate of approximately 57.91% CAGRindustrial teams are on the verge of a revolution.
The biggest challenge for many innovators ready to embrace the world of extended reality is to build a business case capable of converting all shareholders of the company.
Here’s how you can get started with your business case.
Step 1: Identify the most important obstacles for your business
For most manufacturing and industrial companies, XR represents an incredible opportunity to solve some existing problems in development, collaboration and innovation. One of the easiest ways to get buy-in for a business case is to find existing problems that different forms of extended reality can solve.
For example, if the pandemic has made it increasingly difficult for your manufacturing company to bring team members together for product ideation and development, you can look into the benefits of virtual reality and twins. digital. These tools allow more team members to work together in a shared “virtual” space when real-world interactions aren’t possible.
Alternatively, if you are concerned about the costs of sending subject matter experts to the field, you can consider using augmented and mixed reality tools to connect people in the field with team members where that they find themselves. A pair of smart glasses could allow a subject matter expert to annotate a machine and provide guidance in real time.
Step 2: Highlight faster innovation
In addition to solving existing problems, XR also has the potential to dramatically improve the speed at which manufacturing and industrial companies can innovate and create. As digital transformation in the modern world continues to accelerate and consumers seek new solutions, manufacturers are under intense pressure to deliver solutions quickly.
According to PWC reports, bringing AR and VR in product development could generate a massive $360 billion increase in GDP by 2030 simply by accelerating time-to-market opportunities. With innovative XR solutions, workers across the industrial landscape have access to a wider variety of tools to help them create the perfect products faster.
It’s even possible to experiment with materials and ideas that may not have been an option for companies in the past, due to high prototyping costs. At the same time, once a digital twin of a product or prototype is created, it’s quite easy to provide shareholders and stakeholders with a complete tour of the solution remotely.
Step 3: Consider security and compliance
XR in the manufacturing and industrial sectors is not only a great tool for innovation and rapid growth. These tools could also be essential in keeping professionals safe in a somewhat unpredictable landscape. Leaders in the industrial space are responsible for providing their team members with a certain level of care, as well as the right tools to keep them safe.
Extended reality solutions can help keep team members safe in a number of ways. The right innovative VR and MR solutions can train personnel to operate complex and sometimes dangerous machinery, without requiring downtime. The same tools can also provide users with real-time access to information and advice while at work.
In the post-pandemic era, the use of extended reality tools also allows manufacturing companies to offer their partners and shareholders tours of manufacturing equipment without exposing them to potentially dangerous scenarios. At the same time, these solutions improve the possibilities for remote collaboration, with minimal risk of contamination.
Step 4: Highlight potential process improvements
Running a successful business in the industrial landscape means constantly looking for ways to manage a more efficient and productive team. XR can give employees access to more advice, support and information they need at any time, to improve business results.
Companies are already using AR headsets in the fabrication space to guide team members when they are on the jobsite. This ensures that team members can contact specialists in the moment and get all the advice they need to stay productive. At the same time, XR tools can bring staff members together for better collaborative experiences during maintenance or repair issues.
An MR or AR solution allows engineers to see both the tool they are working on and the advice of their subject matter experts in real time, through a set of smart glasses. This improves the chances of an issue being resolved quickly, with minimal requirements for any additional downtime.
The opportunities available for process improvement through XR will only continue to evolve as new innovations appear in the landscape. For example, 5G and IoT applications could one day allow professionals to solve problems remotely.
Step 5: Review potential cost savings
While embracing a new tech innovation like XR might seem like an expensive endeavor initially, it could be a money-saving opportunity in the long run. Using virtual labs and digital twins to experiment with designs can be much more affordable (and sustainable) than building prototypes with physical materials.
Extended reality solutions ensure team members don’t have to pay for professionals to come from overseas to assess a project and perform quality assessments. You can even save money on how you provide customer service, by connecting with your customers and giving them step-by-step guidance remotely, without having to travel.
An XR environment could be the perfect way to create an affordable, eco-friendly environment for better innovation, better customer service, and better collaboration. As the tools become more and more affordable, chances are that more companies will continue to invest in this ecosystem.