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Detailed examination of the virtual and augmented reality that is estimated to report an exponential CAGR of 92.50% between 2017 and 2024

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The worldwide market for virtual and augmented reality is estimated to report an exponential CAGR of 92.50% between 2017 and 2024, increasing its overall opportunity to US$547.20 bn by the end of 2024.


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Virtual and augmented reality is a suite of hardware, service and software components allowing end-users to visualize and experience virtual environment in real-time. The demand for virtual reality (VR) and augmented reality (AR) is expected to increase in the coming years owing to the growing demand for AR and VR service, affordable hardware cost, and increase in end-use application.

The growing demand for VR and AR in healthcare, education, gaming and media and entertainment in the North American, Asia Pacific and European regions is expected to increase the adoption of VR and AR in these markets.