Virtual and Augmented reality tech has already started to make waves in the world of marketing, but you ain't seen nothing yet!
According to research conducted by Goldman Sachs, the market for VR and AR tech is set to explode in size, reaching a combined $35 billion worth of revenue by 2025. This may sound like a long way off, but it's only 8 years away- which will go quicker than you think!
For marketers the really juicy segments in the chart are the retail, video entertainment and live events sections, which combined account for more than eight and a half billion dollars in predicted market size. There are a myriad of ways this kind of technology will prove a boon for marketers in all sorts of different industries - augmented reality dressing rooms for retail, showing prospects around a holiday resort in VR for travel, letting guests virtually attend a live event for entertainment, the list goes on.
By Robert Allen
Rob Allen is Marketing Manager for Numiko, a digital agency that design and build websites for purpose driven organisations, such as the Science Museum Group, Cancer Research UK, University of London and the Electoral Commission. Rob was blog editor at Smart Insights from 2015-2017. You can follow Rob on LinkedIn.
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