WASHINGTON, March 30, 2020 /PRNewswire/ --Today, the XR Association (XRA), global law firm Perkins Coie LLP, and industry venture capital firm Boost VCreleased the results of the fourth annual Augmented and Virtual Reality Survey, which surveyed respondents from startups, enterprise technology firms, and investors in the XR industry in early 2020. The survey, conducted before the COVID-19 pandemic, concluded that plummeting hardware and software costs, increasingly impactful applications outside of entertainment, and the ubiquity of mobile devices are contributing to the rise of XR technologies.

Results indicated both expanding avenues for monetization and growing momentum for nearly every area of immersive technology's use. With applications ranging from sports, video games, and entertainment to healthcare, education, and disaster preparedness, it is evident that immersive technology will create significant opportunities across industries.

"Industry leaders are noticing tangible and significant advances in the adoption of AR, VR and MR across sectors, such as healthcare, education, workforce training, manufacturing including advanced manufacturing and retail," said Elizabeth Hyman, CEO of XRA. "During times of global economic uncertainty, feeling connected and maintaining efficiency and productivity are more important than ever. We are hopeful that the results of this survey demonstrate that the fundamentals are in place for a bright future of XR technology."

Additional key findings include:

These insights represent further progress toward XRA's mission of promoting the thoughtful advancement of XR technology globally. The survey indicates strong tailwinds, with nearly 200 professionals representing, showing stronger optimism for the future of immersive technologies than ever before.

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ABOUT THE XR ASSOCIATION The XR Association represents headset and technology manufacturers across the broad XR industry, including Facebook, Google, HTC VIVE, Microsoft, Samsung, and Sony Interactive Entertainment. The Association promotes the growth and development of the XR industry, fosters dialogue among public and private stakeholders, develops industry best practices, and provides education, training, and marketing information related to the industry.

ABOUT PERKINS COIE LLP Perkins Coie is a leading international law firm that is known for providing high-value, strategic solutions and extraordinary client service on matters vital to our clients' success. With more than 1,000 lawyers in 19 offices across the United States and Asia, Perkins provides a full array of corporate, commercial litigation, intellectual property and regulatory legal advice to a broad range of clients, including many of the market leaders in XR technology, products, services and content. The firm represents clients in identifying, anticipating and resolving legal issues raised by this developing technology, including corporate financings, IP protection, software licensing, privacy and data security, product liability, commercialization and content strategy execution.

About BOOST VCBoost VC is an early stage investor and accelerator investing in startups working with cryptocurrency, virtual reality, augmented reality, and space technology, among other technologies of the future. Boost VC has invested in over 250 companies from over 30 countries and aims to build an ecosystem of visionaries, leaders, mentors, and investors to build the future.

SOURCE XR Association

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XR Association Releases Results Of Fourth Augmented And Virtual Reality Survey - PRNewswire