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Legal concerns regarding the development of XR/AR/VR/MR technologies – Image: Xpert.Digital

Legal Concerns About Developing Immersive Technologies According to XR/AR/VR/MR Industry Experts in the US: In 2020, 49 percent of XR industry experts surveyed said consumer privacy and data security was a legal concern when developing immersive technologies and presents content.

Which of the following legal risks are important to your company when developing immersive technologies or content?

49% - Consumer protection/data security
48% - Product liability
41% - Health and safety issues
34% - Potential infringement of third party intellectual property (patents, trademarks, copyrights, trade secrets)
29% - Export control issues
27% - Licensing of technology and IP
27 % – Compliance with platform requirements when publishing content
25% – Rights of the public
24% – Enforcement of IP rights
1% – Other

Obstacles to mass adoption of AR/VR technologies – Image: Xpert.Digital

Barriers to mass adoption of augmented reality (AR) and virtual reality (VR) technologies according to XR/AR/VR/MR industry experts in the United States: In a survey earlier in 2020, 32 percent of XR industry experts surveyed cited user experience as one of the biggest barriers to mass adoption of augmented reality (AR) technologies. In second place was the availability of content, which 18 percent cited as an obstacle.

Suitable for:

• Xtended: Extended Reality for business and industry
• Continuous improvements and further developments in extended reality

What are the obstacles to the mass adoption of augmented reality – AR technology?

• 32% – User experience (e.g. bulky hardware, technical issues)
• 18% – Content offerings (e.g. lack of quality content, amount of content available)
• 15% – Consumer and business reluctance to adopt AR/VR
• 14% – Regulation and legal risks
• 11% – Financing and Investment
• 7% – costs to consumers
• 4% – Government supervision

What are the obstacles to the mass adoption of virtual reality – VR technology?

• 19% – User experience (e.g. bulky hardware, technical glitches)
• 27% – Content offering (e.g. lack of quality content, amount of content available)
• 19% – Consumer and business reluctance to adopt AR/VR
• 12% – Regulation and legal risks
• 9% – Financing and Investment
• 11% – Cost to consumers
• 3% – Government supervision

Increase in GDP through AR/VR worldwide – Image: Xpert.Digital

Increase in gross domestic product (GDP) due to augmented reality (AR) and virtual reality (VR) worldwide from 2019 to 2030 (in billion US dollars): According to a 2019 report, it is predicted that virtual reality (VR) and augmented Reality (AR) will increase global gross domestic product (GDP) by $1.5 trillion by 2030 - an increase from the $46.4 billion these technologies added to GDP in 2019.

According to a 2019 report, more than 23 million jobs worldwide are predicted to be enhanced by virtual reality (VR) and augmented reality (AR) technologies by 2030, an increase from the 800 thousand jobs created in 2019 VR and AR have been upgraded. VR, AR and Mixed Reality (MR) are often referred to as Extended Reality (XR), an emerging term used for all immersive technologies.

Suitable for:

• The need and demand for XR technologies is growing

Number of jobs improved by augmented reality (AR) and virtual reality (VR) worldwide from 2019 to 2030 (in millions)

Number of workplaces improved by AR/VR worldwide – Image: Xpert.Digital

Economic benefits of VR worldwide

Global spending on augmented reality and virtual reality (AR/VR) is forecast to increase again in 2020, and the consumer VR hardware and software market will also see an uptick through 2023. The potential impact of new technologies like VR is now becoming clearer globally: forecasts suggest that VR will increase global GDP by $450.5 billion by 2030. In addition, it is predicted that over 23 million jobs will be created worldwide through VR/AR technologies by 2030.

Economic benefits of VR in Europe

For European nations, VR is predicted to bring a range of social and economic benefits. The UK is forecast to see a gross domestic product (GDP) increase of $20.1 billion by 2030, while France is expected to see a $14.4 billion GDP increase from VR technology. In addition, more than 400 thousand jobs will be created by VR/AR in the UK by 2030, an increase on the 10 to 15 thousand jobs created by VR/AR in the UK in 2019.

Market development of Augmented & Virtual Reality (AR/VR) in Europe – Image: Xpert.Digital

Size of the augmented reality (AR) and virtual reality (VR) market in Europe 2018 and 2026 (in billion US dollars): In 2026, the augmented reality (AR) and virtual reality (VR) market will be in Europe is expected to reach $50.55 billion, an increase from the $4.57 billion the market was worth in 2018.

We provide you with further numerous insights into numbers, data and facts that can help you optimize and expand your strategic goals:

• Customer Demographics Library – Demographics Knowledge Base (PDF)
• Online Marketing Library (PDF)
• E-Commerce Library – Knowledge Base (PDF)
• Social Media Marketing Library – Knowledge Base (PDF)
• SEO Library – SEM knowledge database (PDF)
• Search Engine Advertising / SEA Library – Search Engine Advertising Knowledge Base (PDF)
• Extended Reality (XR) Library (PDF)