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

Legal concerns about the development of immersive technologies according to XR/AR/VR/MR industry experts in the USA: In 2020, 49 percent of the XR industry experts surveyed stated that consumer privacy and data security is a legal issue in the development of immersive technologies and content.

Which of the following legal risks are relevant 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 for content publication
25% – Public rights
24% – Enforcement of IP rights
1% – Other

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

Barriers to the 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 conducted at the beginning of 2020, 32 percent of the XR industry experts surveyed cited user experience as one of the biggest barriers to the mass adoption of augmented reality (AR) technologies. The availability of content ranked second, with 18 percent citing it as a barrier.

Related to this:

• Extended: Extended Reality for Business and Industry
• Continuous improvements and advancements in Extended Reality

What obstacles exist to the mass adoption of augmented reality (AR) technology?

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

What obstacles exist 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 high-quality content, quantity of available content)
• 19% – Consumer and business reluctance to adopt AR/VR
• 12% – Regulation and legal risks
• 9% – Financing and Investment
• 11% – Costs for consumers
• 3% – State supervision

Global GDP increase due to AR/VR – Image: Xpert.Digital

Global increase in gross domestic product (GDP) from 2019 to 2030 due to augmented reality (AR) and virtual reality (VR) (in billion US dollars): A 2019 report predicts that virtual reality (VR) and augmented reality (AR) will increase global gross domestic product (GDP) by 1.5 trillion US dollars by 2030 – an increase from the 46.4 billion US dollars that these technologies increased GDP by in 2019.

According to a 2019 report, more than 23 million jobs worldwide are projected to be enhanced by virtual reality (VR) and augmented reality (AR) technologies by 2030, an increase from the 800,000 jobs enhanced by VR and AR in 2019. VR, AR, and mixed reality (MR) are often referred to as extended reality (XR), an emerging term used for all immersive technologies.

Related to this:

• The need for and demand for XR technologies is growing

Number of jobs improved worldwide through Augmented Reality (AR) and Virtual Reality (VR) from 2019 to 2030 (in millions)

Number of jobs improved worldwide through AR/VR – Image: Xpert.Digital

Economic benefits of VR worldwide

Global spending on augmented reality and virtual reality (AR/VR) is projected to increase again in 2020, and the consumer VR hardware and software market is also expected to experience growth through 2023. The potential impact of new technologies like VR is becoming increasingly clear globally: forecasts predict that VR will boost global GDP by $450.5 billion by 2030. Furthermore, VR/AR technologies are projected to create over 23 million jobs worldwide by 2030.

Economic benefits of VR in Europe

VR is projected to bring a range of social and economic benefits to European nations. The UK is expected to see a $20.1 billion increase in its gross domestic product (GDP) by 2030, while France anticipates a $14.4 billion GDP boost from VR technology. Furthermore, VR/AR is expected to create more than 400,000 jobs in the UK by 2030, an increase from the 10,000 to 15,000 jobs created by VR/AR 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 in 2018 and 2026 (in billion US dollars): In 2026, the Augmented Reality (AR) and Virtual Reality (VR) market in Europe is expected to reach 50.55 billion US dollars, an increase from the 4.57 billion US dollars that the market was worth in 2018.

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

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