Summary
Despite many challenges, including expensive equipment and the high cost of creating immersive experiences, startup activity in AR and VR is on the rise. Entrepreneurs and enterprises are finding that these technologies provide lucrative business opportunities across all sectors. However, big-bang growth could be at least a few years away.
A few years back, immersive tech was making headlines, had some big hitters splurge on it. Facebook bought Oculus in 2014 for $2 billion. Two years later, Microsoft launched the HoloLens. The startup pitched in with immersive-tech ideas, creating products that could ride on Oculus or other hardware. But then, as global companies found limited appeal for their products, many of these ventures withered. The technology was ahead of its time. a
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