Analytical company CBInsights has published the report "AR/VR Trends to Watch Out For". The study provides an overview of the most significant trends in augmented and virtual reality (AR/VR).
The AR/VR market continues to grow as more and more companies and investors see great potential in them. The AR/VR market is expected to grow to $125 billion by 2025. This is due to advances in technology, improvements in equipment, and increased demand from users. The increasing interest of large companies such as Meta, Google, Amazon and Apple in AR/VR allows us to expect faster development of the technology and expansion of its application in the future.
AR/VR is becoming increasingly accessible and functional, leading to a wider application of technology in various industries, including education, medicine, and manufacturing. The use of AR/VR in conjunction with 5G allows the development of remote control technology. With its low latency and high data rates, 5G will be able to support remote control of AR/VR technologies with high accuracy. For example, students will be able to learn with AR/VR, creating more realistic and interactive scenarios. In medicine, it will improve the quality of treatment, allowing doctors to determine more accurate diagnoses and perform more precise and effective operations. In manufacturing, it becomes possible to control various devices, such as drones, robots, etc.
In entertainment, AR/VR also continues to evolve at a rapid pace, primarily in the areas of gaming, live streaming, visualization and simulation. VR gaming revenue is currently estimated at $1.1 billion and is expected to grow to $2.4 billion by 2024 (PwC forecast).
AR/VR is enhancing collaboration and communication within and between enterprises. Increased use of AR/VR technology in businesses leads to increased operational efficiency and cost savings.
The AR/VR market in Kazakhstan is at an early stage of development and some domestic companies presented their solutions at the recent Digital Almaty 2023 International Digital Forum, which are currently used in various industries, such as medicine, construction and manufacturing.