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Global Argumented reality and Virtual Reality market projected to reach $215 billion by 2021:

It might be considered a platitude, but people are always looking for new ways to break away from the monotonous beat of everyday normalcy – either temporarily or permanently. According to a 2013 report on drug abuse by the United States government, 9.4 percent (around 24.6 million people) of individuals age 12 or old noted that they had recreationally used a drug within the past month. This tendency to seek life-changing experiences is true whether it concerns things like the countercultural movements of the 1970s – which infamously involved controversial music and use of illicit drugs – or the technological experiences today.
Most people are fascinated with those experiences that allow them to escape crushing boredom and constancy of regular life. That’s why the prospect of virtual realities and the possibilities of automation afforded by artificial intelligence are so exciting. Here are some of the biggest changes related to these two fields that are quickly arriving with the technological advents of modern society.

The concept of machine learning is part of the set of revolutionary methods in artificial intelligence that is addressing this limitation and attempting to surpass it.

So, where does virtual reality come into all of this?

Well, to start off virtual reality is similar to artificial intelligence in the sense that the field is still in its development stages. However, virtual reality is in an even earlier stage of nascency.

The world's Augmented Reality (AR) and Virtual Reality (VR) market is expected to expand exponentially over the next four years with their annual growth rate more than doubling, an industry tracker said on Monday. The global market for AR-VR products and services is expected to reach $215 billion by 2021, compared with $11.4 billion for 2017, Yonhap news agency cited International Data Corporation (IDC) as saying.

The compound annual growth rate is projected to reach 113.2 per cent, with the market expanding 18.9 times over the next four years.

Initially, AR-VR investment and application will be led by consumers, the retail and distribution industry and the manufacturing sector, IDC said, adding that such sectors as government service, transportation and education will take advantage of these technologies.
Initially, AR-VR investment and application will be led by consumers, the retail and distribution industry and the manufacturing sector, IDC said, adding that such sectors as government service, transportation and education will take advantage of these technologies.

"It amazes and stuns visitors to see this blend of technology and human ingenuity in the palms of their hands. It restores to art what technology has replaced – our imagination."

Moving away from immersive virtual reality experiences, there are arguably virtual realities that involve the inverse – the projection of the virtual into the real. Gatebox and its virtual assistant that can engage you in conversation and control the settingsof your home to an extent, based on your preferences, is a good demonstration of pioneering for this specific field. One day, the machine learning methods of artificial intelligence may even be incorporated into the conversational abilities of these assistants to give them an increasingly human-like presence.

Well, this is how AI and VR amazes us.

Should next-generation AR and VR devices hit the market, the industrial sector is predicted to take the lead in harnessing those technologies.

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