Twenty-four notable firms specializing in Virtual Reality technology
The virtual and augmented reality (VR/AR) market is rapidly expanding, with several industries set to benefit significantly. Here's a look at the top sectors driving this growth and the jobs that are being created.
Healthcare
The healthcare sector is experiencing a surge in VR/AR adoption, thanks to telemedicine, surgical training, chronic disease care, and medical education. The U.S. AR/VR healthcare market is projected to grow at a 15.4% Compound Annual Growth Rate (CAGR), reaching well beyond USD 1 billion by 2030.
Key players in this sector include Lowe's Innovation Labs, which provides tools like the Lowe's Style Studio for Apple Vision Pro, and ImmersiveTouch, whose platform converts 2D medical images into 3D spatial models, enhancing surgical planning and training.
Manufacturing and Construction
Visualization, digital prototyping, and simulation, all enhanced by 3D digital assets combined with VR/AR, are transforming the manufacturing and construction sectors. Construction currently holds the largest revenue share, and the automotive industry is fast-growing.
Retail and E-commerce
Augmented reality platforms are enabling virtual try-on solutions for apparel, beauty, eyewear, and more, minimizing returns and personalizing shopping experiences. The virtual try-on market alone is projected to grow from about USD 5.9 billion in 2025 to USD 11.4 billion by 2030, driven by AR.
Gaming and Entertainment
As a primary early adopter of VR/AR technologies, the gaming and entertainment industry continues to drive immersive digital experiences. Notable examples include Sandbox VR, offering immersive virtual reality experiences, and Unity's collaboration with Pixar on Coco VR, Pixar's first foray into standalone virtual reality filmmaking.
Defense
AR/VR aids training, simulation, and operations, contributing to the growth of hardware and services in this sector.
Market Size by 2030
The global extended reality (XR) market, encompassing AR, VR, and mixed reality, is projected to reach approximately USD 44.14 billion by 2030, growing from USD 7.55 billion in 2025 with a CAGR of over 42%. The broader AR and VR combined market is forecast to reach USD 237.8 billion by 2030, from USD 21.40 billion in 2021.
Job Creation
The rapid growth trajectory of the VR/AR market implies substantial job creation across hardware manufacturing, software development, content creation, and enterprise deployment. The expansion of venture-backed startups in healthcare AR/VR and the evolution of SaaS ecosystems in retail and enterprise suggest thousands of new roles spanning R&D, engineering, design, and support are expected by 2030.
Other companies contributing to this growth include Microsoft, which released its Mixed Reality line of products in 2017, Samsung Electronics, which launched Gear VR in 2015, and Qualcomm, striving to create fully immersive mobile VR.
Framestore, a company creating immersive virtual reality experiences for theme parks and National Geographic, and Talespin, offering immersive learning content, a skills insights platform, and a content creation tool, are also playing significant roles in this burgeoning industry.
- The expansion of the VR/AR market, particularly in sectors like healthcare, manufacturing, and retail, is fueling the demand for gadgets and technologies that leverage artificial intelligence (AI).
- As the VR/AR market continues to grow, numerous jobs are being created across various industries, including software development, content creation, and enterprise deployment, which utilize AI in creating immersive digital experiences.
