Augmented Reality & Virtual Reality Market Size Worth US$ 453.5 billion by 2030 – Taiwan News
The global augmented reality (AR) and virtual reality (VR) market size was US$ 20.5 billion in 2021. The global augmented reality (AR) and virtual reality (VR) market size is forecast to reach US$ 453.5 billion by 2030 by registering a compound annual growth rate (CAGR) of 40.7% duri…….
The global augmented reality (AR) and virtual reality (VR) market size was US$ 20.5 billion in 2021. The global augmented reality (AR) and virtual reality (VR) market size is forecast to reach US$ 453.5 billion by 2030 by registering a compound annual growth rate (CAGR) of 40.7% during the forecast period from 2022-2030.
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COVID-19 Impact Analysis
The global augmented reality (AR) and virtual reality (VR) market revenue grew during the COVID-19 epidemic. The market witnessed a growing demand for augmented reality and virtual reality technologies among the population. It is mainly due to the sudden change in working mode of businesses. Many companies began operating remotely, which helped the industry expand during the epidemic. Moreover, it offered an opportunity to the service providers to invest in R&D and develop efficient solutions. The 2020 China Spring Cloud Auto Show integrated panoramic content, big data, AR technology, Web 3D, and other technologies to introduce advanced technology that could help organizations by offering multiple services.
Moreover, the global augmented reality (AR) and virtual reality (VR) market may witness emerging opportunities in the healthcare sector, mainly due to the growing demand for point of care, patient management, telehealth, and home-based care.
