Augmented and virtual reality (AR/VR) technologies are set to revolutionize both internal collaboration and customer engagement.

Enterprise adoption of AR/VR is on the rise, with 17% of companies currently utilizing these technologies, a significant increase from 8.9% earlier this year, according to a global study by Metrigy.

Companies that report high returns on investment from collaboration initiatives show a 26% adoption rate of AR/VR, highlighting a strong link between effective collaboration and the use of these technologies.

Looking ahead, an additional 10.5% of companies plan to implement AR/VR technologies by 2025, while 28% are actively evaluating them for future applications.

Successful applications of AR/VR include product design reviews, distance learning, remote demonstrations, and immersive onboarding experiences for new hires.

Advancements in AR/VR technology and competitive pricing are essential for broadening their applications in business collaboration, especially in light of current market hurdles.

Recent innovations in business-focused AR/VR include Cisco Webex Hologram, which enables sharing of 3D images with remote participants, and Project Starline, a collaboration between HP and Google for 3D meetings without the need for wearables.

While consumer AR/VR devices like Apple Vision Pro and Meta Quest have gained popularity in gaming, the development of business applications has been slower.

Despite its potential, the AR/VR market has encountered challenges, such as Apple scaling back Vision Pro production and Microsoft discontinuing HoloLens 2, along with Google's cessation of Google Glass production earlier this year.

At the recent WebexOne conference, Cisco announced new support for spatial meetings on the Apple Vision Pro, allowing virtual attendees to interact with those present in person.