Used as a precursor in sol-gel processes for producing vanadium oxide-based thin films, which are applied in electrochromic devices and smart windows due to their ability to modulate light and heat transmission. Also employed in catalysis, particularly in oxidation reactions, where it acts as a homogeneous catalyst or catalyst support. Its reactivity makes it suitable for synthesizing vanadium-containing nanomaterials with applications in energy storage, such as in lithium-ion battery electrodes. Additionally, it finds use in coating technologies to enhance wear resistance and in the fabrication of sensors sensitive to environmental changes like humidity or gases.