Healthcare industry is projected to experience the most disruption by immersive technologies like virtual reality.
More than 55% of VR users found the experience extremely or moderately satisfying.
Source: AR Insider
As per the economic impact assessment conducted by PwC, by 2030, VR and AR can potentially boost the global economy by to $1.5 trillion from the 46.4 Billion in 2019. The technology can contribute by offering new customer experiences, speeding up product development and improving workplace safety.
Expected GDP contribution of AR/VR Sector –
In the below graph, we show a comparison expected GDP contribution of Augmented Reality Technology vs Virtual Reality Technology (Forecast between 2019 to 2030)
Augmented Reality –
According to a PwC analysis, AR/VR will continue to be a major contributor to the global economy. In 2019, AR was set off at $33bn whereas VR was at $13bn. While the trajectory of AR is set to boost to $338.1bn by 2025, VR is expected to stands at $123.3bn. By 2030, AR will contribute a colossal amount of $1,092.4bn, while VR would contribute approximately $450.5bn. This change in dynamic will lead to a disruption in some sectors.