Top 10 most innovative in AR/VR | Rapidly expected growth in headsets | Construction Industry goes AR/VR

Welcome to today's Augmented Reality news.

Hi fellow AR fans.

Today we are presenting more industries where AR & VR are being part of everyday workflow. What I find very interesting is the expected growth of AR/VR headsets in 20233 that is something to look out for, and perhaps make some investments in.

Enjoy your reading!

Today’s Topics:

• Top 10 most innovative AR/VR companies in 2024

• Explosive growth forecast for AR & VR headsets expected by 2033

• Enhancing Collaboration in the Construction Industry through AR and VR Technologies

Top 10 most innovative AR/VR companies in 2024

Augmented reality (AR) and virtual reality (VR) technologies are expanding beyond gaming, showcasing their versatility in various fields. Honored companies, recognized by Fast Company, utilize AR and VR for diverse applications such as medicine, filmmaking, business presentations, shopping, and entertainment. XRHealth employs VR for clinician-guided medical care, while Medivis offers AR views aiding surgeons in real-time imagery for surgical planning. Bilt provides 3D DIY instructions, JigSpace facilitates augmented reality demonstrations for professionals, and Xreal offers unobtrusive AR glasses compatible with numerous devices. Qualcomm chips power popular AR and VR headsets, enhancing user experiences. In entertainment, AmazeVR creates VR concerts, Disguise employs AI to capture performers' movements without special suits, and Sandbox VR offers multiplayer gaming experiences. These innovations demonstrate the transformative potential of AR and VR beyond mere entertainment, enhancing perception and understanding across various domains.

Key points:

1. QUALCOMM
Recognized for developing advanced processors driving today's leading-edge AR/VR technology.

2. SANDBOX VR
Acknowledged for revolutionizing VR experiences into interactive group entertainment.

3. XRHEALTH
Applauded for leveraging virtual reality to address diverse health conditions, including innovative applications in space.

4. DISGUISE
Commended for showcasing the immersive potential of large-scale graphics, both live and on television.

5. XREAL
Praised for creating AR displays seamlessly compatible with existing consumer devices.

You can read the next 5 HERE

Explosive growth forecast for AR & VR headsets expected by 2033

The latest research publication on the U.S. augmented and virtual reality (AR/VR) headset market predicts a significant growth trajectory, expecting to reach $25,492.1 million by 2033 from $1,080.0 million in 2023, driven by a robust Compound Annual Growth Rate (CAGR) of 36.45% during 2024-2033.

Key points:

• Market Growth:

  Rapid ascent projected, fueled by investments and widespread application across sectors.

  CAGR of 36.45% during 2024-2033, indicating substantial growth potential.
  

• Market Dynamics:

  AR/VR headsets offer immersive experiences, leading to increased consumer demand in education, entertainment, and healthcare.

  Transformations in industrial operations and consumer interactions lead to paradigm shifts.

  Advancements in healthcare highlight growth opportunities.
  

• Market Segmentation:

  Consumer applications dominate, particularly in entertainment and personal engagement.

  Virtual Reality headsets, especially in gaming and education, hold a significant market share.

  Standalone headsets gain popularity due to convenience and multi-functionality.
  

• Market Challenges:

  Increased investments and smartphone ubiquity drive market growth.

  Technical constraints, ecosystem fragmentation, and cultural adoption rates pose challenges.
  

• Strategic Utility:

  Provides insights for organizations to strategize product innovation and growth marketing.

  Helps companies remain competitive in the rapidly evolving AR/VR headset market.
  

• Research Precision:

  Rigorous methodologies and extensive primary and secondary research ensure analytical accuracy.

  Offers insights into market progressions and developments shaping the future.
  

• Key Market Players:

  Microsoft Corporation, Meta Platforms, Inc., and Apple, Inc. are highlighted for their innovative contributions and market prominence.

For a more in-depth report go HERE

Enhancing Collaboration in the Construction Industry through AR and VR Technologies

The construction industry, facing challenges of managing large sites and meeting deadlines amidst hazardous conditions, seeks digital solutions to enhance efficiency and ESG practices. Augmented reality (AR) emerges as a transformative tool, overlaying digital data onto the real world to aid progress monitoring and error identification. Facilitating collaboration among stakeholders, AR integrates audio communication for remote guidance, reducing travel needs. Key players like Autodesk, Microsoft, and Qualcomm drive AR adoption, with acquisitions of specialist vendors expected to bolster capabilities in 3D mapping and visualization.

• The construction industry faces challenges of managing large sites, meeting deadlines, and navigating hazardous conditions.
  

• Augmented reality (AR) offers solutions by overlaying digital data onto the real world, aiding in progress monitoring and error identification.
  

• AR facilitates collaboration among stakeholders by providing a shared visualization platform.
  

• Integration with audio communication enables remote guidance of on-site workers, reducing the need for frequent travel.
  

• Key players like Autodesk, Microsoft, and Qualcomm drive AR adoption in construction, focusing on data visualization and project management.
  

• Acquisitions of specialist AR vendors are expected to enhance 3D mapping and visualization capabilities

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