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Industry-Standard Technology Adoption

Goldman Sachs Research expects virtual and augmented reality to become an $80 billion market by 2025, roughly the size of the desktop PC market today.

 

EFFICACY

Numerous studies have proven the effectiveness of using VR training. Much research has been conducted in the medical field to assist with surgical training, as VR offers a cost effective, “fail safe” learning opportunity.

In a randomized, double-blinded study from Yale University School of Medicine, gallbladder dissection was 29% faster for VR-trained students and mean errors were six times less likely than in the non-VR trained group. Non VR-trained residents were also nine times more likely to fail to make progress.

A study at NASA measured the users perspective and effectiveness of VR training. The study focused on maintenance procedures on the Hubble Space Telescope (HST). Users graded overall effectiveness an average 4.08 (out of a range of 0 – 5).

 

INFORMATION RETENTION

Learners’ information retention rates are shown to be much greater with virtual reality compared to other mediums.

The average student retains 5% of what they hear in lectures, 10% of what they read, and 20% of what they see and hear in audiovisual presentations, according to the National Training Laboratory (NTL) Institute for Applied Behavioral Science. Add virtual reality simulation learning retention rates can leap to 75%.

Dr. Narendra Kini, CEO at Miami Children’s Health System, anecdotally told Fortune Magazine that information retention rates can be as low as 20% only one week after traditional training, but one year after VR training learners still retain up to 80% of the information.

 Virtual Training: The Return on Investment