The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s AI In Virtual Reality And Augmented Reality Global Market Report 2024, the AI in virtual reality and augmented reality market is expected to show significant growth in the forecast period.

Exponential Market Growth

• The AI in virtual reality and augmented reality market has experienced exponential growth, rising from $39.2 billion in 2023 to $57.37 billion in 2024, with a CAGR of 46.3%.
• Forecasted to reach $264.7 billion by 2028, growing at a CAGR of 46.5%.
• Growth attributed to advancements in computer vision, machine learning, NLP, cloud and edge computing.

IoT Devices Driving Market Expansion

• Increasing IoT device adoption fuels market growth.
• IoT devices enhance user experience, data analysis, predictive maintenance, and more.
• Expected IoT connections to exceed 37.4 billion by 2030.

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Innovations Driving Market Dynamics

Assisted Reality Glasses

• Major companies innovate with assisted reality glasses.
• Oppo’s OPPO Air Glass 3 integrates real-time information into daily use.
• Features include voice assistant powered by AndesGPT, designed for seamless digital overlay.

Strategic Industry Developments

Strategic Acquisitions

• The Glimpse Group’s acquisition of PulpoAR enhances AR and AI capabilities.
• Strengthens technology stack and competitive edge in virtual try-on solutions for beauty brands.

Market Segmentation and Applications

Segmentation Overview

• Types: AI-Powered VR, AI-Enhanced AR.
• Technologies: NLP, computer vision, machine learning, gesture and speech recognition.
• Platforms: Mobile devices, HMDs, smart glasses, wearables, desktops.
• Applications: Gaming, education, healthcare, retail, real estate, automotive, tourism, social media, industrial, military.

Regional Insights

Dominance in North America

• North America led the market in 2023.
• Strong presence driven by technological advancements and early adoption.

In conclusion, the AI in virtual reality and augmented reality market is poised for substantial growth, driven by technological innovations, IoT proliferation, strategic acquisitions, and diverse applications across industries. As companies continue to invest in AI-driven solutions and enhance user experiences, the market is set to expand dynamically, transforming how individuals interact with digital and physical worlds alike.

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The AI In Virtual Reality And Augmented Reality Global Market Report 2024  provides an in-depth analysis on the AI in virtual reality and augmented reality market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the AI in virtual reality and augmented reality market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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