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Virtual and augmented reality technology on rise with shift towards corporate markets

The proliferation of new VR and AR apps is set to continue as the technologies' focus shifts towards corporate markets, according to a new report from ABI reaserch

The report forecasts tremendous growth in virtual reality (VR) and augmented reality (AR) technology adoption among enterprise businesses, as innovative brands experiment with a wave of new applications.

According to the report, the VR technology market is set to grow by 88 per cent by 2021, while purchases of smart glasses alone are forecasted to increase 82 per cent in the same period.

Eric Abbruzzese, senior analyst for ABI Research, says the technology has huge potential for B2B businesses: "The primarily gaming-centric VR market is seeing uptake in corporate and enterprise usage in applications such as simulation, training and visualised content creation." 

Sam Rosen, managing director and vice president at ABI Research, says the technology should not be underestimated as the "limitations for these markets are far less constrictive than once thought".

The ABI report also covers the release of premium VR and AR content from the likes of Google, Acer and Epson.