AUGMENTED/VIRTUAL REALITY LATEST NEWS
By: Zoe Gwyneth Tan / February 18, 2022
Augment Reality (AR) and Virtual Reality (VR) sparks growth in the Asia-Pacific Region as the introduction of AR/VR devices by local companies in China and India aided in making these devices more affordable and available to the masses for a wider scale of adoption.
This new and enthralling way of implementing games and reality to people are expected to have a set growth from US$ 15.3 billion to a whopping US$ 77 billion by the year 2025. With the integration of AR/VR devices into the market, more opportunities are set to emerge with the cooperation of 5G in the development of technology that is fully-immersive by its user. However, with this integration, the manufacturing of these devices requires a higher cost which causes a significant restraint for vendors who wish to include this new system into their market.
The AR/VR market is segmented into both hardware and software with its hardware segment dominating the Asia-Pacific market due to the high availability of the products aiding its users in games and social media platforms. Based on the AR/VR device type, it is segmented into head-mounted displays which can be worn by the user, projectors, display walls, and gesture tracking devices. On the other hand, its software segment is expected to grow at an even higher rate due to AR/VR content creators producing more content for entertainment and gaming with its target users mainly gamers, social media users, and other content creators.
Amidst the pandemic, the application of augmented/virtual reality in the healthcare sector has seen an exponential growth and continues to expand as it provides various advantages to healthcare workers like skill training, surgery simulation, and robotic surgery. These opportunities can help healthcare workers to obtain new skills and operate machines in a secure environment. Furthermore, in the area of diagnostics, virtual reality assists healthcare workers and medical practitioners to gain better insights and diagnostics in comparison to other techniques which eradicates the need for invasive surgeries or methods until it is deemed necessary. The leading players in the global VR market are Microsoft Corporation, Samsung Electronics, Facebook Inc., Google LLC, and Sony Corporation.
Source: AR and VR in Asia-Pacific is Anticipated to Hit US$77 Billion by 2025 (analyticsinsight.net)
https://www.analyticsinsight.net/ar-and-vr-in-asia-pacific-is-anticipated-to-hit-us77-billion-by-2025/
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By: Zoe Gwyneth Tan
