Potential Impact of COVID-19 on AR and VR Market Analysis on Current Trends and Growth

Depending on type, the market is classified into VR and AR. Between these, the AR category is predicted to exhibit faster growth in the market in the coming years. This will be because of the various possibilities and benefits offered by the AR technology and the rapid technological advancements being made in the wireless technology, that allows the easier integration of the AR technology with home appliances and mobile devices, thereby offering a connected experience to the users.

Geographically, the AR and VR industry recorded the highest growth in North America in the past years and it is predicted to demonstrate rapid advancement in this region in the future years as well. In this region, the demand for these technologies is currently booming in the U.S., because of the existence of several AR and VR solutions providing companies in the country. Additionally, the usage of VR and AR technologies is surging in the healthcare and e-commerce sectors.

Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/augmented-reality-and-virtual-reality-market/report-sample

This is further boosting the demand for these technologies in this region. According to the estimates of P&S Intelligence, a market research company based in India, the demand for AR and VR technologies will rise rapidly in the Asia-Pacific (APAC) region in the coming years. This will be because of the rapid technological advancements and innovations, the presence of a large population of young people and the growing popularity of VR and AR-enabled gaming in this region.

Hence, it is quite clear that the demand for AR and VR technologies will rise tremendously all over the world in the forthcoming years, mainly because of their growing requirement in the healthcare, media and entertainment, and gaming industries.

Comments

Increasing Internet Penetration Fueling Demand for Product Analytics

With the increasing penetration of the internet in both developing countries such as China and India and developed countries such as Singapore and the U.S., the worldwide demand for product analytics is rising rapidly. For example, according to the Office for National Statistics, in 2018, 90% of all households in Great Britain had access to the internet. Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/product-analytics-market/report-sample Additionally, the total percentage of adults who used the internet daily grew from 35% to 86% from 2006 to 2018 in the country. The rapid digital transformation in various countries is pushing up the requirement for product analytics solutions. Moreover, businesses all over the world are increasingly adopting advanced technologies such as product analytics for building a holistic understanding and delivering greater customer engagement. Apart from this, rapid advancements and innovations being made in various cog...

Conversational AI Market Worldwide Opportunities, Driving Forces, COVID-19 Impact Analysis, Future Potential 2030

There are two ways in which conversational AI solutions are deployed, namely cloud and on-premises. Of these, the conversational AI solutions deployed through cloud recorded higher demand in 2018, and this deployment method is expected to remain more popular in the coming years. This is primarily attributed to the ballooning demand for scalability and easier maintenance features and 24*7 services offered by these solutions. Furthermore, many major companies are adopting cloud-based solutions for increasing their operational flexibility and reducing their operational costs. Coherent with these facts, the biggest phenomenon currently being observed in the conversational AI market is the mushrooming implementation of chatbots, as well as IVA, in various healthcare applications. Geographically, the highest demand for conversational AI market share has been witnessed in North America in the last few years, and the next few years will witness a similar situation. For instance, a Mahara...

Huge Growth Expected in Japan Heat Stress Monitor Market in Future

In the last 100 years, the average annual temperature of Japan has risen by a whole degree (Celsius), says the World Wildlife Fund. Moreover, the number of hot days, when the maximum temperature is more than 35 °C, is higher now than before, while the cold has become less extreme. Even the instances and duration of snowfall and the extent of ice in the southern part of the Sea of Okhotsk are reducing. With such rampant global warming, the Japanese population is suffering more than ever because it is simply not used to such hot conditions. Moreover, by 2050, the annual mean temperature in the country is set to rise by 3 °C and, further, by 5 °C by 2080. According to P&S Intelligence, due to such climate change, the Japanese heat stress monitor market , which valued $1.98 million in 2020, is expected to reach $3.96 million by 2030, at a 7.05% CAGR between 2021 and 2030. This is because the changing weather conditions are leading to the rising number of heat stroke cases, ...

News Market Insights

Search This Blog