With the advancement in technologies across a spectrum of sectors, including high-resolution displays, graphics processing units, gyroscopes and digital cameras, the augmented reality and virtual reality space is becoming more accessible to businesses and consumers.
“The convergence of these disparate technologies are now allowing consumers to affordably access AR/VR experiences that would have been infeasible even just a decade ago,” Tillery said.
Given the current growth rates, Tillery projected that the AR/VR market industry could see revenue hit $215 billion by 2021. AR and VR headset market to reach 13.7 million units by the end of 2018 and grow to 81.2 million by 2021.
AR/VR technology can impact a number of markets and experience many avenues of growth. For example, in the military industry, the technology can provide simulated flight and battlefield training; heads-up display (HUD) for pilots; and drone data for soldiers. In the healthcare industry, AR/VR helps surgery simulation and training; assist robotic surgery – surgeon in VR can control robots arms; find veins for IV insertion; provide augmented view of patient via other data such as previous imaging; and assist treatment of phobias. In the education industry, the innovative tech can provide virtual lectures, field trips and classrooms, along with producing visual display of abstract concepts.
To help investors hone in on the AR/VR investment opportunity, Mark Swaringen, Co-Founder of Tactile Analytics, pointed to the recently rebranded Tactile Analytics AR/VR Virtual Technologies Fund (CBOE: ARVR). ARVR allows investors to access the AR/VR value chain through exposure to categories like sensors, processors, displays, HMDs, peripherals, other devices, entertainment, enterprises and development tools.
Financial advisors who are interested in learning more about augmented and virtual reality can watch the webcast here on demand.