![]() Virtual Reality Market Overview, Growth Prospects and Outlook Report, 2028A Chapter by Markets Insights![]() The global virtual reality market size was valued at USD 15.81 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 18.0% from 2021 to 2028.![]()
The e-commerce industry offers the unique feature of virtually trying clothes or accessories and assisting customers in making the right purchase decisions. Moreover, the temporary shutdown of educational institutions to curb the spread of coronavirus has compelled institutions to shift their academic sessions to VR-based online platforms for better collaboration. The technology has also enabled medical professionals to provide training and aid treatments through its audio-visual tool. The major drivers of the global market are the increasing adoption of automation and Artificial Intelligence (AI) across several industries. The commencement of 5G network bandwidth that is expected to enhance the immersion experience on VR devices and the rise in smartphone penetration is also likely to boost the market growth. Various industries, such as healthcare, retail, education, manufacturing, automation, real estate, and tourism, have deployed several VR-based software/devices that have proven beneficial for their businesses. For instance, Atlantis, The Palm Dubai, a luxury resort in the UAE, offers its potential customers the opportunity to experience the ambiance of the resort through a VR 360 tool, providing an immersive and real-like sight to the viewers. Related Press Release@ Virtual Reality Market Report Virtual Reality Market Report Highlights
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StatsAuthor![]() Markets InsightsFelton, CAAboutAbout Us: Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer c.. more..Writing
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