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A recent report from Goldman Sachs predicts that virtual and augmented reality are a future $80 billion market – and less than half of those use cases are in video games and entertainment. In fact, a good percentage of those use cases are in Engineering and Real Estate.
“Five or 10 years ago, we used text to communicate. Today, we communicate and share with photos and videos. Tomorrow, with VR, we’ll be able to communicate with experience.“How the growth of Mixed Reality Will Change Communication, Collaboration and the Future of the Workplace”
Reality IMT has already begun using its innovative suite of 360 video mapping tools to help a well-known commercial land development and renovation company in the Houston area take a step into the world of communicating through experience.
The client was having difficulty leasing out a commercial space due to the terrible condition of the property. The decayed state of the building and parking lot were a major detraction to potential lessees. 3D graphics had been developed by the architect, but potential clients still had trouble fully visualizing the post-renovation space.
Reality IMT worked with the Architect’s team to obtain the 3D rendered graphics of the commercial property, and then captured an actual 360 degree image of the location. Once the visuals were gathered, Reality IMT’s team stitched them seamlessly together to produce this immersive 360 degree environment, where the renovated space appears in combination with the actual street location. This 360-3D environment can also be used from a virtual reality headset such as Samsung’s Gear VR, or Oculus Rift, where the potential client becomes fully immersed into the newly renovated space before it is built.
The ability for clients to see the space and make lease decisions not only gives the client an advantage in decision making, it also gives the developer the potential to lease before spending the capital on renovation. By being able to fully communicate the future vision through experience instead of words, both parties gain more confidence in the transaction – not to mention having a little bit more fun!
For more info on how Reality IMT’s 3D imaging and mapping technologies could benefit your organization, please contact us.