What is Virtual Reality Training?
Training is an important investment in any company as it helps you build your workforce and make them more competent. Thanks to evolving technologies, you now have plenty of ways to execute your training programs. Virtual reality (VR), in particular, has become more popularly used for training due to the customization flexibility and experience. You might be wondering about virtual reality training pricing if you are keen to try it out.
VR training involves the digital simulation of various scenarios to create an active and realistic learning environment for your team members. What makes it so compelling and attractive? It’s that you can depict scenarios that would be too expensive or risky to enact on your own. This improves the learning experience.
So, how much does VR training cost? Much like other tech investments, many factors can affect virtual reality training pricing. Check out the information below to get a better idea on it.
Cost of VR Training
When investing in training, you must always evaluate business potential before deciding on how much to spend. Estimating VR training costs will thus be crucial to determine whether you are getting sufficient value for your money.
On average, a VR training program can cost anywhere between $40,000 to $155,000. Now, the price may be steep for businesses, especially if you have limited financial resources. In most cases, the biggest hindrance to adopting VR for training would be high upfront costs. The complexity of developing the technology and an appropriate learning environment using it easily adds up to reach triple-digit thousands in costs.
Thus, it is important to consider how you can reuse your VR training for many years, whereas live training will require expenses for every session conducted. You might have to spend more initially when using VR, but the longer you are able to use the program, the more savings you will get.
Additionally, these are some of the factors that will affect how much you spend on VR training:
- Type of VR used (360° or full VR)
- Complexity of content
- Costs of VR headset and controllers
- Use of Extended Reality System (XRS) to manage content
- Program design
- Application development
- Content development
- Reputation of vendor
As you can see in the list above, VR training costs can be extremely variable because of the number of decision factors involved in the process. Thus, it is important to do research beforehand and find a reputable vendor who can help you develop a program based on your allocated budget.
Value Derived from VR Training
It is no secret that investing in a custom VR training program will be costly, but many businesses still commit to it because of the value they get in return. One of the main value drivers for VR training is that it reduces training time, effectively cutting down costs.
To illustrate, Walmart launched a pilot VR project and saw massively successful results: Trainees reported 30% higher satisfaction and 10-15% more knowledge retention. Aside from this, the training medium allowed Walmart to cut their training time from 8 hours to 15 minutes and eliminate travel costs.
VR training is also highly scalable, so even if you have to train more people, you can still use the same program to teach them. Compare this to traditional training methods, where you would have to spend significantly more as your team size increases. When this happens, your cost per trainee will be much higher. With VR, your cost per trainee actually drops if you can train more employees and retain the program for a longer time.
Truly, VR training is changing the way businesses offer learning and development to employees. As technologies continue to evolve further, you can only expect adoption rates to increase more in the coming years.
As with any other business decision, it is not easy to decide on how you should conduct training for your team. The virtual reality training pricing can be daunting to many, but before you reject the idea, think about the potential value outcomes of the investment. By incorporating such technologies, you can deliver experiential-based training that will ultimately improve job performance, knowledge retention, and team competence.
If you’re looking for a company to create an effective virtual reality training experience, contact us now at AustinVisuals.com