The Silicon Review - Best Business Review Magazine Super 30 Companies of the Year 2019 | Page 74

Extended
Reality and
Its Growth
in the Next
Five Years
A
n umbrella term is now
buzzing in the industry,
which is called Extended
Reality. It is a mixture of immersive
tech that can club both the virtual
world and the physical world. The
market for XR (Extended Reality) is
said to grow eight times by the year
2022. The expected value should be
around $209 billion.
74
Just imagine your life in the future
where you get to buy land, houses,
and more through an app. Also,
AUGUST 2019
you can order food just by thinking
about it. Not to mention, automated
house doors, windows, lights and
more. All of this is possible through
extended reality or in short ‘XR’.
All the immersive technologies
which are already in the market
like virtual reality (VR), mixed
reality (MR) and augmented reality
(AR) are the ones currently being
targeted by many companies.
Today we see AR slowly taking
over all the phone apps. It initially
started through a gaming app
called Pokémon Go. Soon many
applications such as food menu
reader apps, study apps, direction
board apps will start using AR. It
makes things easy to translate the
content written on these boards and
cards. Further, machine learning
through AI is something that is
fascinating to every company.
Initially, when a company decides
to implement AI, it doesn’t always
travel on the right path. Many