How Can VR Be Used in Business? VR Use Cases & 5 Real World Examples

How can VR be used in business? This is a question many companies are exploring as Virtual Reality (VR) revolutionizes operations. By offering immersive experiences, VR elevates training, fosters collaboration, and engages customers like never before. The global virtual reality (VR) market is anticipated to expand significantly, growing from an estimated $32.64 billion USD in 2024 to a remarkable $244.84 billion USD by 2032. As the VR market continues to witness substantial growth, it's crucial to explore the real-world applications of virtual reality within the business landscape.

Get ready to explore the practical applications of VR across various industries, emphasizing its notable advantages and illustrating how businesses are harnessing this technology to achieve success.

In this blog, you will find:

👁️‍🗨️ What is VR Used for in Business?

🏭 Which Industries are Adopting VR?

🔍 5 Top Use Cases for VR and MR in Business with Examples

🏁 Conclusion

What is VR Used for in Business?

In the business realm, virtual reality (VR) is predominantly utilized to streamline processes such as training, customer engagement, and remote collaboration. VR enables companies to develop realistic simulations for training, resulting in better-prepared employees who can practice in a risk-free environment. Organizations that implement VR in their training programs experience enhanced performance and engagement compared to traditional methods. Furthermore, VR elevates customer experiences by providing immersive and interactive interactions, while also making remote collaboration more effective and engaging.

Which Industries are Adopting VR?

VR technology is being embraced across a wide range of industries, from healthcare and education to gaming and retail. For more details, check out our blog: Virtual Reality in Business 

🏥 Health Care

VR is making significant strides in healthcare by transforming medical training, patient therapy, and surgical simulations. For example, VR platforms such as Osso VR and Touch Surgery provide medical professionals with realistic surgical training simulations, improving their skills and confidence without the risks associated with traditional methods. According to research, VR training can improve surgical performance by up to 230% compared to traditional training methods. In patient therapy, VR is used to treat conditions such as PTSD and anxiety through immersive environments that support therapeutic interventions.

🎓 Education

In education, VR is reshaping the learning landscape by providing immersive experiences that engage students and enhance understanding. VR labs allow students to conduct virtual experiments, while virtual field trips transport learners to distant places without leaving the classroom. Platforms like zSpace and ClassVR offer interactive lessons that make learning more dynamic and interactive. A study by PwC found that VR learners were four times faster to train than in the classroom and four times more focused than their e-learning peers. 

🎮 Gaming

The gaming industry has been a pioneer in VR development, pushing the boundaries of what's possible with immersive entertainment. VR gaming allows players to dive into virtual worlds, providing a more immersive and interactive experience than traditional gaming. With the launch of popular VR headsets such as Oculus Rift and PlayStation VR, the market for VR gaming is rapidly expanding. According to recent reports, the VR gaming market is expected to grow from $22.63 billion in 2024 to $189.17 billion by 2032, highlighting its significant growth and potential.

🛍️ Retail

Retailers are using VR to revolutionize the shopping experience by offering virtual stores, product demos, and enhanced customer engagement. Companies like IKEA and Macy's have developed VR applications that allow customers to visualize furniture in their homes before making a purchase, providing a more interactive and informed shopping experience. A study by Shopify found that interactions with products having VR/AR content showed a 94% higher conversion rate than those without.

🏦 ReAl Estate

VR is transforming real estate by offering virtual property tours and architectural visualizations, allowing potential buyers to experience properties remotely. Real estate firms like Zillow and Matterport use VR to showcase homes and commercial spaces, making it easier for clients to explore properties without a physical visit. Through the VRARA's survey, 40.4% of apartment buyers confirmed that VR tours play a crucial role in making purchasing decisions.

🚘 Automative

In the automotive industry, VR is utilized for design, prototyping, and virtual test drives. Companies like Ford and Audi use VR to streamline the design process, allowing engineers to visualize and test new models in a virtual environment. Virtual showrooms and test drives also enhance the customer experience, enabling potential buyers to explore vehicles without visiting a dealership. According to a study by Dealer Marketing Magazine, 80% of the future purchasing generation (currently 13 to 17 years old) are more likely to visit stores that offer interactive experiences via VR/AR technologies.

5 Top Use Cases for VR and MR in Business 

Training and Education

Virtual Reality (VR) is revolutionizing corporate training and educational programs by providing immersive, hands-on learning experiences that engage learners in ways traditional methods cannot. Companies like Accenture have developed sophisticated VR training modules that simulate real-world scenarios, allowing employees to practice essential skills in a controlled environment. For example, Accenture's VR training program for women in tech inclusion offers an immersive experience that helps participants navigate challenging workplace situations, such as negotiating salaries or addressing bias. This not only promotes diversity and inclusion but also empowers women to build confidence and skills that they can apply in their careers. Additionally, VR can tailor learning experiences to individual needs, allowing for adaptive learning paths that cater to different skill levels and learning styles.

Onboarding in VR

VR is also being utilized to create immersive onboarding experiences for new employees, transforming what can often be a mundane process into an engaging and effective introduction to their new organization. Walmart employs VR technology to onboard employees by simulating real-world scenarios they might encounter in the workplace, such as managing customer service situations or navigating store layouts. This hands-on approach provides new hires with practical knowledge and boosts their confidence before they start their roles. The immersive nature of VR can also help in building camaraderie among new employees, as they share experiences in a virtual environment, fostering team spirit from day one. By using VR, companies can reduce the time it takes for new hires to become proficient and comfortable in their roles, ultimately leading to increased job satisfaction and retention rates.

VR Events

Virtual events, conferences, and trade shows are increasingly leveraging VR to create immersive experiences that engage attendees in unique ways. Platforms like Cvent host virtual events providing participants a sense of presence and engagement. These platforms enable attendees to attend keynote speeches and participate in discussions, all while networking with others from around the globe. Tech companies like Microsoft have successfully used VR to host major events, allowing attendees from various locations to participate without the need for travel, thereby reducing carbon footprints and expenses. The immersive nature of VR also enables the incorporation of interactive elements, such as Q&A sessions, polls, and breakout rooms, enhancing the overall experience and enabling deeper connections between participants.

Team Building with VR

Virtual Reality (VR) significantly enhances team building and employee engagement by providing immersive and interactive experiences that foster collaboration, creativity, and skill development. Through VR, teams can participate in virtual challenges such as escape rooms and intricate puzzles, which encourage teamwork and strategic thinking. Interactive workshops in VR make learning both engaging and practical by simulating real-life scenarios, while virtual social events enable employees to connect casually, boosting morale and cultivating a sense of community.

Moreover, VR facilitates team-based training simulations that offer hands-on experience in leadership and crisis management, and virtual icebreakers help new team members integrate seamlessly into the group. These applications harness VR’s immersive capabilities to enhance collaboration, learning, and workplace culture. During the global pandemic, for example, Microsoft’s Azure team utilized VR for a virtual team-building activity, successfully reconnecting and re-engaging employees and fostering a sense of unity despite physical distances.

VR Meetings and Remote Work

VR is enhancing remote work by providing virtual meeting spaces that foster collaboration and communication, breaking down the barriers of geographical distance. Horizon Workrooms by Meta exemplifies how VR can transform virtual meetings, offering features like spatial audio and customizable avatars to create a more realistic and engaging experience. Participants can interact as if they are in the same room, making discussions more dynamic and collaborative. Companies such as Spatial leverage VR to host meetings that enable remote teams to collaborate effectively, allowing users to manipulate 3D models or documents in real-time. This ability to visualize and engage with content in a virtual environment bridges the gap between physical and virtual workspaces, leading to improved productivity and creativity. The use of VR in remote work also promotes a stronger sense of community and belonging among team members, which can be challenging in a traditional remote work setup.

Conclusion