The Diverse Potential of VR & AR Applications
While many consider virtual and augmented reality the next big thing, there still appears to be a degree of uncertainty about what both technologies can and will actually be used for. According to Goldman Sachs, who predict the industry reaching a value of $80 billion a year ($35 billion software and $45 billion hardware) by 2025, the potential of AR/VR tech is extremely diverse.
As many others do, Goldman Sachs’ researchers see video gaming as the industry’s most promising use case with live events and video entertainment being the other major consumer-focused applications of VR/AR technology.
The potential of the new technologies extends way beyond the consumer space though. According to Goldman Sachs’ estimates, almost half the industry’s revenue will be generated in the enterprise and public sector with healthcare and engineering being the most promising areas of use.
- Projected revenue of the augmented and virtual reality markets worldwide 2016-2021Projected revenue of the augmented and virtual reality markets worldwide 2016-2021
- Global economic impact from virtual and augmented reality technology 2016-2020Global economic impact from virtual and augmented reality technology 2016-2020
- Global revenue from virtual and augmented reality device sales 2016-2020Global revenue from virtual and augmented reality device sales 2016-2020
- Global virtual reality hardware unit shipments by product type 2014-2020Global virtual reality hardware unit shipments by product type 2014-2020
- Global virtual reality hardware unit shipments by type 2016-2020Global virtual reality hardware unit shipments by type 2016-2020
- Global consumer/commercial virtual reality hardware shipment share 2015-2020Global consumer/commercial virtual reality hardware shipment share 2015-2020
- Global virtual reality headset shipments by brand 2016Global virtual reality headset shipments by brand 2016
- Global augmented and virtual reality headset sales share by region 2014-2019Global augmented and virtual reality headset sales share by region 2014-2019
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