The Emerging Potential of VR and AR Technologies in South Africa: Insights from Lumico
As a digital marketing agency with a focus on cutting-edge technology, Lumico is closely following the development of virtual reality (VR) and augmented reality (AR) technologies in South Africa. Despite the obstacles faced by these technologies in the country, we firmly believe that VR and AR have the potential to revolutionise many industries, including advertising and marketing.
For example, Lumico recently built a gamified AI experience for Absa Bank that was shown at the annual NAMPO trade show. This experience used VR technology to draw clients into the Absa Agri world by allowing them to walk and interact within a specially-created virtual environment. This kind of immersive experience can be an effective way to create a lasting impression on customers and increase engagement with a brand.
Lumico has also developed an educational VR platform for Absa Renewable Energy, which allows users to take a guided walk-through of various renewable energy solutions and systems, such as hybrid solutions and solar energy. This kind of immersive learning experience can enhance understanding and engagement with complex concepts, which is particularly useful in fields like renewable energy, where public education is critical.
According to a survey conducted by PwC, 31% of South African consumers are willing to try VR technology for shopping. Additionally, 75% of South African smartphone users are interested in using AR for product information or reviews while 64% are interested in using VR for gaming and entertainment, as reported by World Wide Worx.
The South African government has identified the creative industries, including VR and AR technologies, as a key area for economic growth and job creation. The launch of the South African Cultural and Creative Industries Federation (CCIFSA) in 2019 is an example of this commitment.
In conclusion, while VR and AR technologies are still emerging in South Africa, we are optimistic about their potential. We anticipate that as they become more accessible and affordable, we will see an increase in demand for experiences that leverage these technologies. As a leading digital marketing agency, Lumico is excited to be at the forefront of this innovation and to create immersive and exciting experiences for our clients and their customers.