Demand for extended reality is growing at an incredible pace.
Currently, the virtual reality market is growing at a rate of 44.84% CAGR, towards a value of $84.09 billion in 2028. The market for augmented and mixed reality is equally impressive, growing at a rate of 43.8%, to a projected value of $340.16 billion by 2028.
Clearly, the age of immersive technology, enhanced by the promise of new opportunities in things like the metaverse and the age of distributed content. While there are countless examples of how amazing companies are introducing us to the abilities of XR today, some innovators are making more waves than most.
Here are some excellent examples of innovators to watch in 2022, many of which feature at XR Today’s XR Awards 2022:
Creators of the world’s first FDA-approved at-home VR pain treatment solution for chronic lower back pain, AppliedVR is transforming the way we think about pain management. Introducing the world to the concept of “immersive therapeutics”, this innovative company demonstrates the potential of extended reality to actively improve quality of life.
Applied VR’s technology empowers patients with chronic pain and long-term conditions to live their lives independently and learn how to manage their conditions. This self-managed, and at-home approach to chronic pain is unlike anything we’ve experienced in the healthcare industry before. Applied VR could be one of the companies on the front lines of the war against painkiller addiction and other common problems in healthcare.
Applied VR scored big at the XR Awards, the firm is a finalist in the following categories Most Innovative Product, Most Innovative Product, and Ones to Watch.
Promising all companies and fellow innovators an opportunity to unlock the benefits of AR for themselves, Augment IT brings extended reality to the masses. The company gives brands and creators access to proven experts in the AR field, who can help them to digitize their workflow in the pharmaceutical, industrial, and various other industries.
Augment IT is one of the companies actively showing companies how they can embed augmented reality into their day-to-day processes to make teams more efficient and productive, and solve problems in common workflows. This company is helping to pave a new future for AR by ensuring the technology is as easy to access and flexible as a new phone system or collaboration app.
Augmented IT is currently in the race to win the Best Mixed Reality Solution award at the XR Awards 2022.
Rocket VR Health
Another leading XR company demonstrating how the immersive landscape can improve quality of life, Rocket VR Health focuses on transforming mental health and pain management for cancer patients. Rocket VR health is developing state-of-the-art digital therapeutics designed to address the currently unmet mental health needs of cancer survivors and patients.
The powerful immersive VR therapies are proven and validated through extensive research, and delivered in collaboration with psychological experts. The technology produced by Rocket VR Health aims to completely modernise the way complementary therapies are built and produced for cancer patients, to help them get the best possible quality of life.
The metaverse is one of the most exciting new concepts influencing the development of next level XR experiences in today’s world. Cavrnus is a company promising brands a new opportunity to carve their own space out of this new landscape. The solution allows every creator, brand, and enterprise to intuitive build and share their vision of the immersive metaverse, anywhere, on any device.
The comprehensive platform makes it possible to create truly powerful simulations in captivating 3D, so you can connect with colleagues, reach out to customers, and build new products together with specialists in your workplace. With your own immersive VR environment, you can inspire people like never before, and design unique experiences for strengthening customer relationships.
Cavrnus also is up for winning the Most Innovative Product award, as well as Best Metaverse Solution.
Lucid Reality Labs
Lucid Reality Labs is a company committed to increasing accessibility to immersive technologies, design tools, and development opportunities for modern brands. The company specializes in helping brands to create complete XR solutions, all the way from the initial conceptualization of ideas to the design and development of complete ecosystems.
Lucid reality can assist companies with virtually all aspects of extended reality, including VR, AR, and MR solutions. The company is also investing in powerful opportunities in the metaverse, and helping businesses to align their extended reality experiences with AI and robotics. If you want a guide to the new world of disruptive tech, this could be it.
Alex Dzyuba, the CEO and Founder of Lucid Reality Labs , is in the mix to win XR Leader of the Year.
One of the top pioneers in virtual reality innovation, Virtualware has already won awards like “Innovative VR company of the year” for 2021. The organisation is dedicated to creating powerful real-world solutions for common problems using immersive and interactive technology. Industrial companies can leverage the technology to build environments where employees can ideate and collaborate quickly and safely together.
The VR landscape also helps to promote better communication between team members, and create unique demonstration experiences for customers. Virtualware’s unique approach to bespoke customer service and content creation makes it a leader in its field.
VizworX is a leading custom software development company offering unique development solutions for a range of different brands from various industries. The company specializes in transforming complicated data sets into amazing solutions for business leaders. VizworX can help businesses with everything from visualizing their data, to immersing teams in phenomenal training experiences.
The XR services from VizworX cover both augmented and virtual reality app development, as well as support for custom software design, and artificial intelligence or machine learning elements. Already, the company has worked with a multitude of leading companies to help bring their unique immersive ideas to life.
Dynepic’s “MOTAR” platform is changing the educational and training landscape forever, allowing companies to build immersive experiences to empower and inform their people. The Dynepic open ecosystem allows all kinds of XR creators to access the best possible tools from across the industry in a simple and unified hub.
With the goal of organizing and democratizing XR, Dynepic is showing companies around the globe how easy it is to create immersive experiences from scratch, and how powerful these tools can be in creating meaningful opportunities for learning and growth.
Dynepic is a finalist in a number of categories. Currently, the firm is up for the Education & Training Award, Best Collaboration Solution, Best Virtual Reality Solution, and Krissa Watry, Co-founder and CEO, Dynepic, has the chance to win XR Leader of the Year.
If you don’t want to miss the XR Awards 2022 online event, starting Thursday, 26th May, at 15:00 GMT, please register before the show starts.