69 As a technology , VR – and with it augmented reality ( AR ) – is still in its relative infancy . It ’ s seen widest adoption in the gaming and electronic entertainment verticals , but industries around the world are quickly catching on to the fact that bringing customers and employees into virtual spaces is poised to have a profound impact on the way they work , play and spend their money .
In 2018 , the VR market was worth about US $ 7.9bn ( which is roughly equal to the GDP of Tajikistan , in case you needed a more familiar reference point ). By 2024 , that figure is predicted to increase to more than $ 44.7bn ( placing it somewhere between Paraguay and Cameroon ). That ’ s a CAGR of more than 33 %: a staggering figure in an industry of that size . In short , VR and AR are set to be economically disruptive trends on par with Blockchain and potentially even AI adoption .
Although VR and AR are still in their relatively early stages , the technologies ’ applications are already gaining
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