From Communication to Amalgamation, AR/VR is Revolutionizing our Lifestyle
The world is advancing with the amalgamation of real world and virtual world and this possible because of AR & VR technology. Today we are relating more clearly and closely with our environment due to their advanced gadgets that help us in widening our imagination level sitting anywhere. AR & VR technology is slowly yet steadily evolving. It is transforming all types of business very effectively and efficiently. According to Statista, the augmented, virtual, and mixed reality market is expected to reach $30.7 billion in 2021 and close to $300 billion by 2024. This positive outcome will surely spread positivity and create good relationship between the customers and the business owners.
The worldwide spending on augmented reality and virtual reality (AR/VR) is forecasted to reach $13.8 billion this year and grow to $50.9 billion in 2026, a according to a spending guide by International Data Corporation (IDC). Worldwide Augmented and Virtual Reality Spending Guide of IDC states that the five-year compound annual growth rate (CAGR) for AR/VR spending will be 32.3 percent. Virtual reality will account for more than 70 percent of all AR/VR spending throughout the 2022-2026 forecast while overall spending will be almost evenly split between consumer and commercial applications.
From beauty industry to education sector, all types of businesses are earning good amount of profit. The marketing and promotional strategies are much more advanced and enhanced in today’s context. AR & VR is successfully providing a virtual tour on every product and service where we need not visit any brick and mortar store in order to analyze the quality, size or cost price. Now-a-days, AR & VR is adding value to all our works with cost-effective and time consuming ideas. Moreover, startups are innovating more high-end products and services where it is maturing the market and making the market more transparent.
Innovations such as Meta Quest devices for people to explore and enjoy games and watch movies, the Apple vision pro for blending both real and virtual world, Vision Pro, and many more are indeed changing the game in the market. Who doesn’t want to enjoy without any disturbance and interruption. Definitely, leading to more advanced physical and virtual world AR/VR technology have been blending accordingly to the need and requirements of people. AR/VR has been infused in every aspect of our life from watching TV to shopping to studying as well as maintaining security and has very well uplifted the standards of surveillance system. And one accurate example of this is, in 2022, PM Modi launched 5G service at IMC where the three telcos, Reliance Jio, Bharti Airtel and Vodafone Idea, each presenting their own use case of AR and VR. The Vodafone Idea test case demonstrated the safety of workers in an under-const under-construction tunnel of Delhi Metro through the creation of a Digital Twin of the tunnel. PM took a live demo from the dais to monitor the work in real-time by using AR/VR intelligence.
This shows how we are benefitted due to technological advancements. Good days are here, before what was impossible; today everything is possible with the essence and presence of technology almost in every field. From personal life to professional life, technology can boost the positivity in our lives.
The worldwide spending on augmented reality and virtual reality (AR/VR) is forecasted to reach $13.8 billion this year and grow to $50.9 billion in 2026, a according to a spending guide by International Data Corporation (IDC). Worldwide Augmented and Virtual Reality Spending Guide of IDC states that the five-year compound annual growth rate (CAGR) for AR/VR spending will be 32.3 percent. Virtual reality will account for more than 70 percent of all AR/VR spending throughout the 2022-2026 forecast while overall spending will be almost evenly split between consumer and commercial applications.
From beauty industry to education sector, all types of businesses are earning good amount of profit. The marketing and promotional strategies are much more advanced and enhanced in today’s context. AR & VR is successfully providing a virtual tour on every product and service where we need not visit any brick and mortar store in order to analyze the quality, size or cost price. Now-a-days, AR & VR is adding value to all our works with cost-effective and time consuming ideas. Moreover, startups are innovating more high-end products and services where it is maturing the market and making the market more transparent.
Innovations such as Meta Quest devices for people to explore and enjoy games and watch movies, the Apple vision pro for blending both real and virtual world, Vision Pro, and many more are indeed changing the game in the market. Who doesn’t want to enjoy without any disturbance and interruption. Definitely, leading to more advanced physical and virtual world AR/VR technology have been blending accordingly to the need and requirements of people. AR/VR has been infused in every aspect of our life from watching TV to shopping to studying as well as maintaining security and has very well uplifted the standards of surveillance system. And one accurate example of this is, in 2022, PM Modi launched 5G service at IMC where the three telcos, Reliance Jio, Bharti Airtel and Vodafone Idea, each presenting their own use case of AR and VR. The Vodafone Idea test case demonstrated the safety of workers in an under-const under-construction tunnel of Delhi Metro through the creation of a Digital Twin of the tunnel. PM took a live demo from the dais to monitor the work in real-time by using AR/VR intelligence.
This shows how we are benefitted due to technological advancements. Good days are here, before what was impossible; today everything is possible with the essence and presence of technology almost in every field. From personal life to professional life, technology can boost the positivity in our lives.
