In this day and age, when reality lets us down, we often find ourselves using VR (virtual reality) and AR (augmented reality) to get a taste of new experiences. These are simply groundbreaking technologies through which one can enhance their real-life environment.
Through Virtual Reality, you can entirely exchange your surroundings with a virtual one and replace your environment with a simulated one. Similarly, with Augmented Reality, you can augment your surroundings by adding digital elements to your reality through devices like smartphones.
It is no surprise that this industry is booming right now. When much of the world became a hostage in their own house, VR and AR technologies provided an escape by allowing people to be in different realities than their own.
Thus, it is only natural that AR and VR are champions in the entertainment sector, especially in the gaming industry. But it’s not limited to just that. Other sectors like tourism, retail, and healthcare have slowly started incorporating these technologies into their services.
Experts believe the AR and VR industry, whose valuation was $14.84 billion in 2020, will go up to $454.73 billion in 2030. And it is safe to assume that it will only rise from there.
This industry is proof that we are entering a new era where virtuality is our new reality.