31.07.2017 //

Augmented and Virtual Reality in the Smart Home: Successful innovation workshop by Mücke, Sturm & Company and Connected Living

The management consultancy for digital transformation Mücke, Sturm & Company and the Innovation Network Connected Living organized a workshop on "Opportunities and Potentials of Augmented and Virtual Reality in the Smart Home" in Munich on July 18, 2017, in which a total of 14 participants from the Connected Living network from various industry sectors attended.

Augmented Reality (AR) and Virtual Reality (VR) play an increasingly important role in many areas of the everyday and commercial life. With countless application possibilities, they have an enormous disruption and sales potential in the future, according to expert estimates. As trends in the past few years, the technologies are also becoming more and more popular in German households and are gaining in importance. The new realities have so far been used, particularly in the entertainment sector. With the focus of AR and VR to create an ever-increasing interaction between people and the environment, the private household is a hub of technologies. Especially in this area, particularly against the background of the growing popularity of Smart Home, a variety of different applications of AR or VR can be envisaged. For this reason, Smart Home offers for companies a wide range of business models and opportunities to profit from the potential of these two technologies.

The aim of the workshop was therefore to discuss trends for AR and VR, the impact on business models and customer relationships in the Smart Home sector, and possible new fields of application.

At the beginning the participants received first impressions through an Impulse speech from Dr. Daniel Nowakowski (Senior Consultant, Mücke, Sturm & Company) about Augmented and Virtual Reality, which represent different types of Mixed Reality and differ from one another through the immersion and perception of the users. There are already a large number of AR-experiences, but in some cases further innovative technologies are necessary to implement them accordingly. The first Augmented Reality glasses have not been established due to the early market situation, but a strong increase in the number of AR glasses is currently observed. As a cross-section technology, Augmented Reality affects many different industries and has a considerable impact on the respective markets. Compared to Augmented Reality, Virtual Reality aims at fully immersing of the user in a virtual environment. The Virtual Reality environment has produced many different headsets and concepts over the past few years, especially in the entertainment industry, VR has already established itself in large parts, but this technology is gaining in importance for other industries as well.

Afterwards, the participants had the opportunity in a live experiment to try out the different technologies (Microsoft HoloLens vs. HTC Vive) at the Mücke, Sturm & Company Lab and to be inspired and convinced by the potentials and opportunities of the future-oriented technologies.

In the afternoon, a future scenario of Augmented Reality was developed during a workshop session, which provides a ubiquity of AR technologies in our future. Future customer requirements, the expected technology advancement, possible customer interaction, approaches to shopping experiences as well as innovative business models were discussed. This development of a future scenario was also made for the topic of virtual reality, which, according to the expectation of the participants, will offer the customer completely novel or more intense emotional experiences. Finally, the participants elaborated possible effects of AR and VR on different sectors and market actors (manufacturers, service providers, energy service providers) and prepared measures and recommendations for future market positioning.

The Innovation Center Connected Living will continue to work on the strategically important topic Augmented and Virtual Reality and build up on the workshop results.

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