AR And VR Market Estimated To Reach US$252 Billion By 2028
Analytics Insight, Monday, January 22nd, 2024
Augmented reality (AR) and virtual reality (VR) are two technologies that enable users to experience immersive and interactive digital environments.
AR overlays digital information onto the real world, while VR creates a fully simulated environment that blocks out the real world. Both technologies have applications in various domains, such as entertainment, education, healthcare, retail, tourism, and industrial sectors.
The global AR and VR market size is expected to reach US$252 billion by 2028, growing at a compound annual growth rate (CAGR) of 36.9% from 2021 to 2028, according to a report by Insight Partners. The report attributes the market growth to several factors.