Introduction to Extended Reality

Extended reality (XR) technologies, including virtual reality (VR), augmented reality (AR), and mixed reality (MR), are evolving quickly and are still within the early phases of adoption. Initially, most use cases for VR and AR were related to gaming, entertainment, and social media. However, as more consumers and businesses explore immersive experiences, the variability of applications is expanding.

Current State of VR and AR Adoption

This yr, it’s expected that 58.9 million people will use VR and 93.3 million will use AR not less than once per thirty days within the US. These numbers represent 17.7% and 28.1% of the US population, respectively. The growth within the adoption of VR and AR technologies is a major indicator of their increasing popularity and the expanding range of their applications.

Impact of the Global Pandemic on VR and AR Market

The global pandemic has had a major impact available on the market for VR and AR. With many individuals forced to work, socialize, study, and shop from home, there was a rise in the usage of XR experiences to exchange in-person interactions. Although supply chain and distribution issues temporarily disrupted shipments of VR hardware within the second half of 2020, the demand for every kind of XR content is predicted to translate to more users over the forecast period.

Comparison of This Year’s Forecasts with Last Year’s

This yr’s forecasts have been revised upward to reflect faster-than-expected growth in each VR and AR users. The pandemic-induced conditions have catalyzed interest in each technologies, and developers are stepping up to satisfy the increased demand. The revision in forecasts indicates a positive trend within the adoption and growth of XR technologies.

Impact of Advanced Technologies on VR and AR Usage

The introduction of 5G wireless connectivity and other advanced technologies, reminiscent of artificial intelligence (AI) and edge cloud processing, will soon make it easier to deliver more seamless, enjoyable, and cost-effective XR experiences across a wide range of connected devices. The convergence of those technologies is predicted to further boost the expansion of VR and AR usage.

Report Overview

This report includes forecasts for VR and AR users within the US from 2019 to 2023, together with an evaluation of the forces shaping the expansion of those technologies. The report provides invaluable insights into the present state and future prospects of the XR industry.

Conclusion

In conclusion, the longer term of prolonged reality technologies looks promising, with increasing adoption rates and expanding applications. The impact of the worldwide pandemic has accelerated the expansion of VR and AR, and the introduction of advanced technologies is predicted to further boost their usage. As the XR industry continues to evolve, it’ll be interesting to see how these technologies shape the longer term of entertainment, education, and beyond.