AR and VR in Europe is Estimated to Reach US$92.11 Billion by 2028

AR and VR in Europe are being widely used in various industrial applications, especially for training and research purposes

AR and VR technology in Europe is expected to gain market growth in the forecast period of 2021 to 2028. The market is growing at a CAGR of 47.2% in the forecast period of 2021 to 2028 and is expected to reach US$92.11 billion by 2028. Virtual reality is being widely used in various industrial applications, especially for training and research purposes, acting as a major factor for the growth of the market.

VR can be defined as a technology that creates a simulated environment through the use of computer technology. Virtual reality provides an immersed 3D environment to the user by simulating various senses such as vision, touch, hearing, and even smell. Virtual reality uses devices such as head-mounted displays, projectors, and display walls for generating realistic visuals and sounds for providing the experience of the real world in the virtual environment. The person using VR can look around the artificial world in 360 degrees and even sense the virtual environment with highly advanced gears. This technology is being widely used in various industrial applications, especially for training and research purposes.

The growth of the virtual reality market has been highly increased by the integration of technology into the gaming industry. The gaming industry is using virtual reality to provide an enhanced experience to customers. The virtual reality headsets and projectors have been provided with fully immersive 3D visions and experiences, which are expected to act as a major driver for the growth of the virtual reality market. However, the complexities in user interface designing and integration of technologies to build an optimum virtual reality experience are acting as a major restraining factor for the virtual reality market.

The defense and aerospace industry uses virtual reality for training the army personnel by providing various environmental conditions, this aids in reducing the overall cost of the training. The army personnel can experience parachute jumping, submarine conditions, aircraft simulations, and combat scenarios without any loss of life and property through virtual reality. The growth in the use of virtual reality in defense is acting as a major factor for the growth of the market in the region.