Guidehouse Insights Finds the Energy Industry Can Benefit from Extended Reality Technologies in Operational Applications

BOULDER, Colo., Nov. 22, 2021 /PRNewswire/ -- A new report from Guidehouse Insights discusses the latest market trends in extended reality (XR) for use in industrial environments and provides detailed and actionable recommendations for stakeholders in this growing market.

Extended reality (XR) wearables are rapidly maturing from novel entertainment devices to serious operational tools. Innovative hardware improvements and progressive software applications mixed with decreasing costs have accelerated this change, even for jobs performed in harsh environments. According to a new report from Guidehouse Insights, the XR market can offer benefits for the energy industry and in other industrial environments when used in operational applications.

"Historically, augmented reality (AR) and virtual reality (VR) teetered on the edge of practicality, with limited perceived benefits and functionality, prohibitive costs, developmental roadblocks, and disruptive vendor attrition," says Clay Killingsworth, research analyst with Guidehouse Insights. "More recently, however, their effective use in operational applications has contributed to an uptick in industrial interest and the expansion of vendor offerings."

To facilitate adoption, Guidehouse Insights recommends that customers and vendors leverage creating funding structures and device manufacturers pursue partnerships. Company pilot projects are another key to effective use, according to the report.

The report, Extended Reality for Industrial Environments, discusses the latest market trends in XR for utilities, energy, emergency response, construction, manufacturing, and other industrial environments. It also provides detailed and actionable recommendations for how customers and vendors can address this fast-changing market. An executive summary of the report is available for free download on the Guidehouse Insights website.

About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today's rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.

About Guidehouse
Guidehouse is a leading global provider of consulting services to the public sector and commercial markets, with broad capabilities in management, technology, and risk consulting. By combining our public and private sector expertise, we help clients address their most complex challenges and navigate significant regulatory pressures focusing on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that help our clients outwit complexity and position them for future growth and success. The company has more than 12,000 professionals in over 50 locations globally. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit www.guidehouse.com.

* The information contained in this press release concerning the report, Extended Reality for Industrial Environments, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.

For more information, contact:
Jennifer Peacock
+1.404.575.3859
[email protected]

SOURCE Guidehouse Insights

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