Virtual Reality

• [New] The augmented reality and virtual reality markets are expected to grow by $125 billion during 2020-2024, representing a CAGR (Compound Annual Growth Rate) of over 35% (1).
• [New] MediaMonks has been awarded the Epic MegaGrant, which will explore the next frontier of automated tabletop production by using the latest gaming technology, such as augmented reality and virtual reality, to build a global gaming studio in New Delhi, India.
• [New] Apple will release a new 'helmet type' headset with Micro-OLED displays and augmented and virtual reality capabilities in 2022.
• [New] Using artificial intelligence, machine learning, and virtual reality, a team in the U.S. believe they can help predict the location of many submerged archaeological sites that are difficult to access and contain unknown components, to generate and test anthropological and archaeological theories.
• [New] Over the next three years, the technologies posting the largest increases in investment will be digital twins (+164%), 3-D printing (+125%), augmented reality/virtual reality, and data warehouses.
• [New] New technologies such as robotics, artificial intelligence and virtual reality will expand to represent over 25% of IT spending 3.
• Virtual reality technology will change the world as we know it, and while we have been seeing some use cases in the past few years, 2021 has already cemented itself as the year of VR.
• Private 5G MEC from AWS and Verizon brings ultra-low latency to dedicated, closed, on-premises environments for use cases such as autonomous mobile robots, quality assurance, and hazard alerting.
• Virtual reality goggles could one day become a common sight in aircraft cabins, as passengers immerse themselves in a world of live entertainment content.
• Over the next three years, the technologies posting the largest increases in investment will be digital twins (+164%), 3D printing (+125%), augmented reality/virtual reality, and data warehouses.
• The overall market will return to growth over the remainder of the year as more vendors target the commercial AR and VR markets and low-cost standalone VR headsets such as the Oculus Go make their way into stores.
• There will be a sneak peak at a new virtual reality headset and social platform, arguably a direct competitor to Oculus Quest, rolling out in Asia that will soon make its way to Europe and the US.
• There will be a sneak peak at a new virtual reality headset and social platform, arguably a direct competitor to Oculus Quest.
• The AR market is expected to reach $ 70-$ 75 billion in revenue by 2023 and it is estimated that 500 million VR headsets will be purchased by 2025.
• Virtual reality is an industry that has experienced rapid growth over the past decade and is only projected to rise.
• Apple will launch a new helmet-style headset with augmented (AR) and virtual (VR) reality capabilities in 2022, AR glasses in 2025, and after 2030 AR contact lenses.
• The virtual reality (VR) in the gaming market is expected to grow at a CAGR of 32.75% over the forecast period (2021-2026).
• Nearly half of U.S. online consumers will have used AR or virtual reality by year's end.
• VR-based telepresence will ultimately become the norm, starting with private enterprise solutions and the SMB markets through the likes of Zoom.
• The Augmented Reality and Virtual Reality Market size is projected to reach USD 188 Bn by 2027, from USD 15.3 Bn in 2020 growing at a CAGR of 43.1% during 2021-2027.
• The iPhone-maker' s entry will intensify competition in the VR device market, which includes devices such as Facebook 's FB Oculus Quest 2, Sony 's SNE PlayStation VR, Microsoft' s MSFT Windows Mixed Reality and HTC's Vive and Vive Pro.

Last updated: 18 April 2021