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Out of context: Reply #3
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The VR glasses market is experiencing significant growth. Global spending on VR technology is projected to reach $72.8 billion in 2024, with an expected contribution to global GDP of $1.5 trillion by 2030. The AR and VR smart glasses market, in particular, is estimated to grow at a CAGR of 13.8% between 2022 and 2027
@Gardener, since Google Glasses flop, the market has expanded and diversified dramatically, with advancements in both AR and VR technologies
Technological advancements: Improvements in display technology, battery life, processing power, and sensor accuracy have made AR and VR glasses more immersive and user-friendly.
Increased investment: Both startups and tech giants are investing heavily in AR and VR technologies, driving innovation and market expansion.
Consumer acceptance: There's a growing interest in AR and VR for gaming, media consumption, and social interaction, partly driven by the COVID-19 pandemic which has accelerated the adoption of virtual technologies.
Broader application scope: Beyond consumer entertainment, AR and VR glasses have found applications in education, healthcare, military, and industrial sectors for training, remote work, and enhanced productivity.
Infrastructure and ecosystem development: The development of content ecosystems, platforms, and developer tools has made it easier to create and distribute AR and VR content, enhancing user engagement.