How Are Organizations Strategizing to Overcome Growth Restraints and Navigate the Transition to Immersive Worlds

A seismic shift is underway in the global digital content services ecosystem, driven by the convergence of disruptive technologies and the proliferation of internet connectivity. While the metaverse has been gaining visibility as one of the main technological drivers transforming industries, many metaverse applications are still in their infancy, and organizations are grappling to integrate these seamlessly into their workflows. Moreover, advancements in Internet of Things (IoT), 5G, edge computing, and artificial intelligence (AI), are pushing companies across sectors like healthcare, telecom, marketing, sales, education, media, entertainment, and retail to augment customer experience (CX) leveraging immersive technologies like extended reality (XR), escalating the demand for next-generation infrastructure and services.

Frost & Sullivan's recent Digital Content Services webinar delved into the fascinating realm of Embracing Immersive Technologies and the Metaverse. This engaging discussion explored changing customer perspectives on augmented reality (AR), virtual reality (VR), mixed reality (MR), and the metaverse, revealing innovative strategies for providers to overcome implementation challenges.

Here, the following growth experts collaborated to share their views on emerging megatrends and growth opportunities in the Digital Content Services ecosystem: Mohamed Alaa Saayed, Growth Expert, Senior Program Director, and Head of Digital Content Services at Frost & Sullivan andLara Forlino, Growth Expert and Industry Analyst, ICT Digital Content Services at Frost & Sullivan.

Gain valuable perspectives from these experts by clicking here to access the recorded session of this webinar.

• Embracing Immersive Experiences: The difference between VR, AR, and MR technologies lies in the form of human interaction with the virtual elements they generate. While VR fully immerses users into a simulated world, AR and MR combine physical and digital components to mix or augment reality. This implies that VR holds immense potential in areas like training and education, while AR and MR find innovative applications in product prototyping, architecture, and healthcare -Are your teams equipped to identify and integrate immersive technologies that maximize your organization's alignment with changing customer expectations?

• Navigating Customer Concerns: Challenges like high price points of device and software development, user privacy, data security, regulatory compliance, finding the right business models, and technology-skills gaps emerge as main customer concerns while adopting immersive technologies. This is intensifying the pressure on providers to deliver innovative immersive solutions and establish structured key performance indicators (KPIs) that will empower their customers to tackle these barriers - Which growth processes and strategies will help your organization thwart implementation challenges in immersive technologies to boost commercial adoption rates?

• Deploying Immersive Services: Frost & Sullivan finds that 61% of organizations are currently running small, mid, or large-scale trials related to immersive digital services. Now, technology advancements like the expansion of connectivity, evolution of edge computing, and innovations in immersive hardware are poised to diminish implementation costs and boost commercial deployments of VR, MR, and AR in the next decade -How will you equip your technologists to track and analyze the impact of different immersive technologies against the growth opportunities they spark?

• Exploring New Applications of VR, AR, and MR: The shift towards remote/hybrid work and online shopping is pushing businesses to integrate immersive services, offer more realistic and dynamic online experiences, and tap into tools like virtual events, interactive activities and workstations, and online showrooms. This is unleashing new growth opportunities in workforce communication and collaboration, marketing and advertising, product design and development, and customer contact -Which collaborative partnerships will help your growth strategists maximize the return on investment (ROI) potential of immersive services?

Augmenting CX to Maximize Customer Value: The metaverse is still viewed as a new technology. But accelerated developmental efforts from technology giants like Microsoft, Meta, Google, and Apple are rapidly bringing it to life, making it the channel of focus for businesses to digitally engage with their customers and maximize brand reach. Now, indicators like revenue, customer testimonials, and customer satisfaction scores will be crucial to measure the success of the metaverse and immersive services - Is your organization equipped with the right analytical tools to track customer satisfaction while integrating innovative digital services?