Business Reality in the AR / VR Universe

In Frank Baum’s short fiction “The Master Key,” a notion was originally explored 100 years ago. Today’s market for augmented reality (AR) and virtual reality (VR) is worth USD 12 billion. According to Goldman Sachs research, it will reach USD 80 billion by 2025. Despite the fact that the two forms are referred to as a single sector, VR, which immerses the user in an alternate reality, presently dominates the market with a 75% share of usage. This is owing to the fact that augmented reality, which enhances existing reality, necessitates more advanced technology. AR is predicted to take the lead once this hurdle is overcome in the near future.

Multiple businesses, including video games, live events, video entertainment, healthcare, retail, real estate, education, military services, and engineering, are already feeling the excitement generated by this technology and its ability to revolutionise the way we experience the world. The impact of AR and VR on customer buying is enormous as companies use them to provide customers with a better experience with products and services.