: Why all Small and medium-sized enterprises need Mixed Reality to survive #IndiaNEWS #Augmented Reality Small to medium-sized enterprises breaking into the market aren’t only in competition with

Why all Small and medium-sized enterprises need Mixed Reality to survive #IndiaNEWS #Augmented Reality
Small to medium-sized enterprises breaking into the market aren’t only in competition with big businesses. They are also battling between themselves for the attention of customers, funding, and good press. Markets dominated by the big players with big marketing budgets and economies of scale might seem impenetrable by small and growing businesses.

Whilst there are a few things SMEs should be doing to stay competitive, such as own a unique product or service, patent their ideas, and grow their customer reach; one thing, in particular, is set to determine their survival the importance of their Mixed Reality strategy.

As the speed of technology moves faster than ever, the past 12 months have catalyzed the quality of output and equipment in augmented reality (AR), virtual reality (VR), and mixed reality (MR); driving down prices and bringing the strategy well into the SME budget. There are now fewer reasons not to adopt mixed reality into business operations. Rather, only the necessary reasons for survival.

Markets adopting MR

Forecast distribution for the augmented and mixed reality market 2022: (Statista)

What do SMEs need to survive?

High customerSatisfaction low return rateReturning customersStrong brand image

Survival in the SME game is all about growth, pushing boundaries, keeping up with and overtaking competitors in order to build a successful venture.

As more industries turn to technology for automating marketing, manufacturing, customer services, and even sales; the future of the entire economy is looking more technologically driven. The only way to stay in the game is to turn to the emerging and transformational technologies of digital realities.

What’s Mixed Reality?

Mixed reality (MR) is the merging of real and virtual worlds that result in new environments and visualizations. These spaces are immersive computer-generated environments in which elements of a physical and virtual environment are combined.

Both physical and digital objects co-exist and interact in real-time. Because MR doesn’t necessarily exist in either the physical or digital worlds it’s considered a hybrid of virtual reality and augmented reality.

The VR/AR market was expected to grow by nearly 80% in 2020. The impact of the Coronavirus pandemic has not debunked this since Goldman Sachs estimates the size of the MR market to reach 8bn by 2025. That’s another 5 years of continued innovation and growth.

Mixed reality for SMEs

Throw it into the marketing mix

Long gone are the days of traditional door-to-door salesmanship, pushy ads, and unwanted email spam.