(Newsroom America) -- The market for virtual reality products and technologies was valued at $1.37 billion in 2015 and is expected to reach $33.9 billion by 2022, according to MarketResearch.com
The overall market for augmented reality was valued at $2.35 billion in 2015 and is expected to reach $117.4 billion by 2022.
Rapid growth in these two areas is attributed to two main factors: consumer interest and technology adoption.
MarketResearch.com said consumer demand is rising fast as realistically priced virtual reality and augmented reality products become available for purchase.
It says several key industries that will be influenced by advancements in both augmented reality and virtual reality technologies, including consumer goods, entertainment, aerospace and defense, commercial, and medical.