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VR, AR and MR may make a US$30 billion industry by 2030

Various forms of extended reality may become very successful in the future. (Source: SHRM)
Various forms of extended reality may become very successful in the future. (Source: SHRM)
Virtual, mixed and augmented reality are probably the most familiar forms of extended reality - or technologically-enhanced experientia - out there. The latest research suggests their combined market may be worth US$30 billion or more by the next decade on. Unsurprisingly, gaming is a prominent sector therein.
Deirdre O Donnell,

XR, or extended reality, is typically thought of as made up of virtual reality (VR), augmented reality (AR), and mixed reality (MR). IDTechEx Research now estimates that the market for this tech and its applications could grow until it is worth over $30 billion by 2030.

This growth may be based on one of its most common use-cases at present, which is of course gaming. This may be driven by investment (particularly in AR), which has been seen by chipset makers such as Qualcomm, as well as OEMs such as Sony, OPPO and HTC. Furthermore, software-focused companies such as Facebook have also bought into this industry with their continuing interest in Oculus.

However, XR may become more and more prevalent in other areas, including education, remote assistance and training. In addition, IDTechEx also sees potential for the various immersive platforms in use-cases heretofore unthought of or undeveloped at present. For example, the innovative stand-alone MR platform Magic Leap gathered $500 million worth of investment in 2017.

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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2019 12 > VR, AR and MR may make a US$30 billion industry by 2030
Deirdre O Donnell, 2019-12-30 (Update: 2019-12-30)
Deirdre O'Donnell
I became a professional writer and editor shortly after graduation. My degrees are in biomedical sciences; however, they led to some experience in the biotech area, which convinced me of its potential to revolutionize our health, environment and lives in general. This developed into an all-consuming interest in more aspects of tech over time: I can never write enough on the latest electronics, gadgets and innovations. My other interests include imaging, astronomy, and streaming all the things. Oh, and coffee.