The global augmented reality (AR) and virtual reality (VR) market is expected to reach USD 237.80 billion by 2028, with a steady revenue CAGR of 35%. The market growth is driven by factors such as increasing digitisation, investments in AR and VR, rising demand in retail and e-commerce sectors, and adoption of head-mounted displays across industries. AR enhances real-world items with computer-generated information, while VR creates artificial immersive environments. Various industries are exploring AR and VR for patient consultations, diagnosis and treatment improvements, learning experiences, and business performance enhancements. The market is driven by diverse product offerings, high-speed communication technology, and the growing number of smartphones. Key players in the market include Google, Apple, Sony, Microsoft, Lenovo, and HTC. The report provides valuable insights for investment decisions, competitive analysis, technology trends, and potential use cases in different sectors.
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