How AR & VR Are Shaping The Future

As the technology industry is growing rapidly, we have seen numerous developments. Virtual reality and augmented reality are new emerging technologies that are slowly but surely changing how we interact with our environment. The utility has reached businesses of all kinds and sizes. The augmented, virtual, and mixed reality market is expected to reach $30.7 billion in 2021 and close to $300 billion by 2024, says a report.

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This AR and VR are helping us to make new products and services by making them more appealing to customers. It helps improve customer and employee interaction, enhancing the quality-of-service experience and creating a better connection between people and things. By highlighting the same, we had a conversation with Ranga Jagannath, Senior Director, Agora; Anantha Krishnan, Founder, MOI and Kaavya Prasad, Founder, Lumos Labs.

Latest AR/VR Trends

In the last 3 to 4 years, the technology sector has changed dramatically. Rising trends, new emerging technologies, considerable adoption induced by lockdowns, an era of digital advancements and more. After the hype cycles of blockchain technology, NFTs, DeFi, AI, IoT, Metaverse, in 2023, we have Augmented and virtual realities (AR/VR) or mixed reality.