Kick Off Digital Virtual:
Join the Journey to Becoming the Largest Europe-Wide VR/XR Community.
Connect, Network, Pitch Your VR Business Use Case

On Wednesday, 17 July, SME Connect hosted a virtual meeting to proudly announce the kick-off of our new Working Group Digital Virtual „Becoming the Largest Europe-Wide VR/XR Community. Connect, Network, Pitch Your VR Business Use Case“. On this occasion, we gathered on Zoom with tech experts and interested parties to kick-start the initiative, discuss trends, share insights, pitch VR business use cases and address challenges in the digital landscape.

The event featured the leading team of the Working Group including HANS HOEFNAGELS, Global Director Public Policy at HORSE, Co-Chair of the Working Group Digital Virtual, Special Advisor for Digital Innovation; MORITZ DIEHL, Co-Founder & CFO at Menter World, Co-Chair of the Working Group Digital Virtual, Special Advisor for Digital Transformation; DAVID OLIM, Co-Founder & CEO at FootAR, Co-Chair of the Working Group Digital Virtual, Special Advisor for AR, VR, XR; and DR. HORST HEITZ, Chair of the Steering Committee of SME Connect.

The working group aims to establish Europe’s largest XR network, supporting SMEs in job creation and contributing to the digital economy. Focusing on exchanging expertise and analysing legislation to help businesses comply and grow as well as aiming to expand the group, collect use cases, and influence European Parliament policies. Collaboration is crucial for driving economic growth and innovation through XR technologies, with the new EU mandate providing an ideal starting point.

We were provided context about XR technologies, differentiating between AR, VR, and mixed reality, and demonstrated their applications through various use cases. XR technologies are already being integrated with smartphones and the consumer interest is growing. We were looking into a study predicting that within five years, AR devices will become as commonplace as smartphones, driven by innovations from companies like Apple, Meta, and Samsung. Despite privacy concerns, consumers are increasingly willing to adopt these technologies for enhanced experiences.

The market for XR is rapidly expanding, with significant revenue growth expected. By the end of 2024, the global market could reach 100 million users, growing annually by 151%. XR is not just a buzzword but a tangible, growing market validated by major tech companies’ investments.

Various VR business use cases were pitched, for instance a use case where AR technology is being used to create a gamified experience for sports fans. This involves integrating sports data with AR, similar to “Shazam for sports,” enabling users to visualize live sports events in 3D at home.

Presentations also included a use case providing customizable virtual reality scenarios to aid speech therapy – using avatars resembling real people to simulate speaking situations, improving practice for those with speech disabilities. Partnering with Google and Orange, it supports multiple languages and lifelike mouth movements. Deployed globally, it aids stuttering, autism, Parkinson’s, stroke recovery, and more, facilitating realistic speech practice in a safe virtual setting.

The webinar concluded with a discussion touching on the importance of cybersecurity, identity protection, and the regulation of AR/VR technologies. The need for a balance between regulation and opportunity was stressed to ensure the successful integration of these technologies.

Watch it full here