4 New Trends in the Equipment Rental Industry with AR, VR, and MR

Visualize this; you are in an isolated work site and responsible for continued operations. There is a complicated piece of rental equipment that is vital to continued operations. But you have no idea how to operate the equipment.

Any help from the equipment rental company will take a long time to reach you. We are sure that this must be a familiar situation for many companies undertaking such projects. In such a case, can you imagine if an expert were to guide you through the process virtually?

You and the expert would simultaneously be able to enter the machinery virtually and you would learn how to use the machinery with constant and more importantly, instant directions.

This is where technology like augmented reality can help. How? Technology like augmented reality, virtual reality, and mixed reality can help you enter the equipment virtually to learn all the nuances of operating the machine.

Such technology allows you to examine the machine with ease while being guided by someone who is an expert based at a remote location. But that’s not all; there are other possibilities with this technology.

Equipment lifecycle management  is a process that manages the usage and maintenance of your asset throughout its lifecycle or period of ownership. Each piece of equipment is bound to a few stages within its lifespan, which varies from asset to asset. The following stages demonstrate how we maintain equipment lifecycle management within DynaRent.

What impacts can AR, VR, and MR technology have on the equipment rental sector?

The usage of AR, VR, and MR technologies to ensure safety, ease, and enhanced customer experience has been increasing. With the technologies advancing, even more, the use case scenarios can only increase.

The equipment rental sector is going through a boom period, with more companies going for the rental option rather than an outright purchase. While this means more business opportunities, it also translates to more competition.

Equipment rental companies need to have the right equipment rental ERP software to ensure that they have operational efficiency and offer the best experience possible. Join us as we explore some of the trends that AR, VR, and MR reality technology can bring.

Remote repairs

When you are in the equipment rental business, there could be instances where the equipment requires repairs for which the customer may not have qualified mechanics. One of these technologies—AR, VR, and MR or a combination of two or more, can help you guide the site personnel or even your field staff to repair the machinery remotely.

Operation training

When you rent out equipment to various companies, there is often a chance that they require help with the operation of the machinery. AR, VR, or MR technologies can help you guide the user and also monitor that the customer is using the equipment in the right manner.

Combined with IoT

Another usage scenario that comes to mind is in combination with the internet of things to virtually track the equipment and ensure that the customer is billed for extra usage. Another trend that we visualize in this area is the way equipment rental companies can track unauthorized movement or pilferage of the equipment.

Virtual experience

Another trend that is being anticipated in the equipment rental industry is that of providing customers with a virtual experience of the equipment usage so that they can make an informed decision. One of the reality (AR, VR, and MR) technologies can be used to enhance the purchase experience of customers by letting them use the equipment virtually.

We want to invite you to join the equipment rental ERP journey with an overview of our solution—DynaRent.