The days of chunky, intricate VR headsets are long gone. Today's customers are gaining access to more stylish, more immersive VR experiences. Over the past few years, the potential for VR has grown so dramatically that we are beginning to see technology in all aspects of life. Today, you can do Kitchen shopping in virtual reality, go on a virtual reality vacation, or interact with colleagues through a headset in your home office.
According to Mordor Intelligence, the VR Sunday was worth about $ 17.25 billion in 2020. By 2026, experts believe it will be worth $ 184.66 billion, representing a CAGR of 48.7%.
VR opportunities are now bigger and more exciting than ever. Today, VR plays a huge role in improving interactions with consumers, strengthening collaboration and creating new ideas.
VR is no longer just a science fiction concept or a strategy for gaming hardware. While a significant portion of the virtual reality Sunday still belongs to the consumer domain, demand for such content is growing. Currently, research shows that by the end of this year, about 58.9 million people will be using VR at least once a month.
The unique promise of VR technology makes it an inspiring option for many reasons. For years, we've been experimenting with the idea of interacting with computers in New and exciting ways. Now AI technology (AI), 5G and visual displays are more impressive than ever. Extreme computing and faster connections mean VR innovators can deliver the immersive experiences we want most.
It's not just the rapid rise in technology that has contributed to the VR revolution. The number of VR startups has risen by more than 14% in less than a year, and the numbers are expected to rise further. One reason for this acceleration is the 2020 pandemic. As the pandemic forced people to socialize, work and read from home, XR experiences became one of the most impressive ways to replace face-to-face interactions.
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