Immersive Technologies Market Share, Trend, Segmentation And Forecast To 2021-2031

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Virtual Shopping, Immersive Learning Create Future Revenue Opportunities Post COVID-19 Outbreak

The notion of new normal is predicted to increase reliance on tools such as augmented reality (AR), virtual reality (VR), and mixed reality (MR) in order to fulfill personal and business obligations. Companies in the immersive technologies market are gauging future growth potential in virtual shopping, since the COVID-19 pandemic is snatching the physical shopping experience away from customers. From fashion to furniture, AR and VR have the potential to enable a virtual shopping space.

The try-before-you-buy concept for sunglasses and apparel is storming the immersive technologies market. AR filters are allowing shoppers to superimpose 3D products using smartphones and tablets. The VR is fueling the concept of virtual trial rooms. Another profitable industry is Ed-tech. Immersive learning and education hold untapped opportunities for startups and stakeholders, as the learning process for millions of students has been affected due to the ongoing pandemic.

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Interactive, Body-based Innovations for Mindfulness Practice Gaining Popularity

Apart from education and retail, companies and startups in the immersive technologies market are unlocking growth opportunities in mindfulness meditation. Since mindfulness is an important factor of an individual’s subjective well-being, startups are increasing their research in human-computer interaction (HCI), which is helping to strengthen mindfulness. However, successful the exploitation of immersive technologies in order to strengthen mindfulness requires a systematic analysis of the potential interrelation, and influencing mechanisms between immersive technologies, its properties, factors, and existing models.

Thus, stakeholders in the immersive technologies market are innovating in design proposals that illustrate the potential of immersive technologies in providing interactive and body-based innovations for mindfulness practice.

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Virtual Museum Tours, Field Trips Transforming Education Sector

The immersive technologies market is slated to register an explosive CAGR of ~38% during the forecast period. The immersive technology has the possibility to improve a student’s learning experience, while teaching them to embrace technology. From virtual field trips on the planet Mars to roleplaying as history’s greatest public figures, the use of VR in education is helping to make learning more entertaining, especially with distance education during the ongoing pandemic.

The Unimersiv app and Oculus Rift headset are being highly publicized to help students meet people from any country in the world and learn languages in VR. Virtual museum tours are helping students to be vividly immersed in arts and culture. The lesser known topics such as human chemistry are gaining attention with the InMind2’s scientific VR game, which helps students to learn about human chemistry in a fun and safe environment.

Medical Immersion Gains Importance in Pain Management, Medical Training, Memory Care

As the pandemic continues, healthcare providers are turning toward AR and VR tools to foster a connection with patients and enable a more personalized care approach. Companies in the immersive technologies market are capitalizing on this opportunity to innovate in fully immersive experience (VR) and incorporate sensory elements in a real-world setting via AR.

VR is providing medical immersion for a range of patient needs pertaining to pain management, medical training, and memory care. Such trends are translating into incremental opportunities for stakeholders in the immersive technologies market. Healthcare consumers are being exposed to AR and VR with the help of try on glasses via retailer’s website, which facilitates easy and effective entry point whilst bolstering sales. AR is being publicized as a patient-facing engagement tool for healthcare providers that offer solutions in aesthetic medicine and orthodontia markets.

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VR Training Programs Help Trainees to Familiarize with Aircraft Crash Site Investigation Techniques

The immersive technologies market is projected to surpass US$ 2.6 Trn by 2031. Even as the aviation industry might be at its all-time operation low due to the ongoing pandemic, AR and VR are expected to create future growth opportunities. Hiverlab - a Singapore-based media technology company dealing with immersive technologies, is being known for its projects in how VR can be used in aircraft crash investigation.

Companies in the immersive technologies market are increasing their RD muscle in multi-user VR experience that allows for the training of aircraft crash site investigation techniques and safety precautions, where the trainer can monitor the overall progress of the class at aviation academies.

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