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Global Market Insights New Report: 2024 AR / VR Head Of The Total Market Value Will Reach 35 Billion US Dollars
- Dec 02, 2017 -

Virtual reality (VR) and augmented reality (AR) technologies are still in their infancy in many ways. A new Global Market Insights report states that there is a huge potential for change and the AR / VR is growing significantly.


The report notes that the market for VR and AR headcounts is expected to grow substantially, most of which is due to the growing use of VR and AR technologies in industrial and business sectors such as retail, automotive, aerospace, defense and manufacturing. Another area of VR is education and training, and VR devices provide more realistic and realistic scenarios. An example cited in the report is the retail giant Wal-Mart installing the Oculus Rift for training at 200 U.S. training centers.


Another area of great potential is marketing. Brands and companies are trying to use immersive technology as a new platform for advertising. Tourism has also started to adopt VR technology to provide customers with the destination and accommodation landscape.


One of the major hurdles currently expected to impact the growth of the AR / VR head market is the high cost of the technology so far. AR smart glasses are often up to thousands of dollars in price, VR heads are hundreds of dollars, which is a huge expense to consumers and even to small businesses.


The report points out that AR devices will have the highest growth rates because they allow users to see the real world and cover useful information with reality. This capability has the potential to become support in areas such as healthcare, automotive, quality control and technology. As technology advances, costs fall, and industries begin to realize the potential of technology, the application of this technology is expected to increase gradually.


The complete report can be viewed on the Global Market Insights website.