Virtual Reality and Augmented Reality will transform from interesting gimmick to core marketing channel
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.
- Source: Statista
- Data Source: Goldman Sachs Virtual and Augmented Reality Report 2016
- Recommended Resource: Marketing Technolgy Innovation Guide