AR/VR market to exceed $59.511 billion in 2022

2019-07-01 09:41

From enterprise to institution, as technology advances, augmented and virtual reality (AR-VR) has penetrated and transformed every industry. The cost-effective benefits and the introduction of industry-specific solutions have increased the adoption of technology. Leading tech giants are launching new products, companies are taking new steps to improve the customer experience, and educators are implementing technology to shape the minds of the future. With the adoption of a variety of applications, augmented and virtual reality technologies have become extremely powerful. Organizations can make a huge difference to their core business.


On this basis, the AR and VR industries have experienced tremendous growth and will continue to grow in the future. In a recent report on the global enhancement and virtual reality industry, Allied Market Research noted that the enhanced and virtual reality market will reach $59.511 billion by 2022, with a CAGR of 65.7 percent from 2016 to 2022. Here are some of the disruptive effects of augmented and virtual reality:


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Apple's T288 head show Leading tech giants are ready to offer the public innovative devices equipped with enhanced and virtual reality technologies. Apple's long-awaited augmented reality (AR) head show, codenamed T288, will feature virtual reality (VR). It will be available in 2020. It is reported that each camera with this head display has an 8K video display, which is higher than the resolution of the current device.


Its ARKit developer framework is used to develop AR-enabled head-ups.


This headset with an AR/VR experience will be connected to a dedicated box via short-range wireless technology. In November, it was reported that Apple was developing its own AR-head chip. Conceptually, the chip will be as integrated as the Apple Watch's.


Such a chip can be more components, such as graphics processors, AI chips, CPUs, etc. , concentrated in a small area, energy consumption will also be reduced. Apple's T288 will be the first device with AR and VR capabilities, CNET reported. Apple didn't say how it would support both technologies in a single device. Oculus, another headset maker, has been developing a high-end VR headset that runs without any external hardware. The tech giant has been harnessing the potential of AR and VR technologies to enhance the user experience and change the landscape.


Creativity and innovation enable manufacturers to bring new products to market and see how they are gradually applied to a variety of scenarios. Transform the shopping experience as a corporate app


Businesses are using enhancements and virtual reality to improve the customer experience and increase their satisfaction. In retail stores, business owners have deployed the technology to deliver a comprehensive shopping experience. With the help of the app, customers can check the price of clothes and other items. In addition, they can determine whether the size of the shoes is suitable for them without having to wear them.


If the shoes don't fit, VR technology will give them a demo and suggest alternatives.


The app developed by The Dent Reality, a augmented reality technology development company, allows consumers to view information about products in retail stores in real time and uses computer vision technology and in-store tracking to help customers find what they need. It will also help buy goods online, rather than leaving consumers waiting in line. This comprehensive shopping experience will help businesses provide convenience and flexibility to their customers and gain loyalty. AR and VR can also help some businesses, such as furniture sellers, show customers what their products look like at home without putting them in their homes. The demo will help the business achieve more sales and more financial profits. Digital transformation is driving businesses to change the way they operate.


Companies that are adapting to technological advances are reaping the benefits.


Changing payments and retail As developers and businesses continue to demand enhanced experiences in the consumer era, powerful two-factor authentication will soon become the new norm. Private data transferred through this technology can be protected by a variety of existing transaction controls, including peer-to-peer encryption, tokens, and 3DSecure.


Providing new educational models and environments Educators, with the help of augmented and virtual reality technologies, are using new means to provide new educational models and environments. They use a variety of AR and VR technologies to train and educate students and staff. Teachers can use AR and VR models to help students understand basic concepts - which will save many teachers'effort in the board book and carefully explain every detail. Oil companies can train employees and contractors, show them maps and work in hazardous and emergency situations through new technologies.


In addition, retail store owners can teach their employees about the appearance and layout of the floor. JigSpace is a learning tool based on Apple's ARKit tool.


Students can use mobile devices to explore virtual 3D models of objects on tables to understand the internal structure of various objects.


By projecting interactive 3D models into AR, abstract concepts and objects can be split step by step, giving students the most intuitive feeling. FigmentAR is a fool-silly VR content development platform launched by Viro Media that allows even people unfamiliar with VR creation to make their own content in simple ways.


Teachers can also create a 360-degree graphic virtual space, which students can then browse through. The application of augmented reality in the field of technical training has attracted the attention of many enterprises. With the improvement of day-to-day operational efficiency, it saves a lot of money and energy.


Changing the way you entertain your home Many parents think they are more worried about their children's increasingly long time spent in front of their mobile phones and computer screens.


AR has positioned itself as a daily reality for mainstream consumers, turning mobile phones into game consoles for parents and children, with plenty of storylines.


AR TransformIndustry Management Simon Wright, AR/VR developer at Genesys, believes ars will change the way industry executives work. Imagine using a VR device, where data is presented to your supervisor, who can instantly read performance data to help employees solve problems or identify laggards.

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