What are the major sectors where it’s being adopted? That said, the consumer market for AR /VR is expected to see sluggish growth due to impacted supply chains, lockdowns, and low cross-border trade. Many AR/VR applications are already being put to use by enterprises and there is a huge potential of these technologies, as all key device manufacturers, solution providers, and app developers are targeting this sector. The COVID-19 pandemic has positively impacted the growth of the AR/VR market and we expect the global market to grow from $30.7 billion in 2021 to more than $124 billion in 2023 (as per this market report). With digital delivery becoming a necessity, one can expect a boom in AR and VR use cases as consumers look for digital, at-home, and low-touch options.
The world is settling into the reality that this crisis is likely to continue throughout 2021 and beyond.
