According To Deloitte, 2023 Will Be The Year Of Virtual Reality

. The Technology, Media & Telecommunications (TMT) 2023 Forecasts study from Deloitte has been released. The analysis predicts that the virtual reality (VR) movement will pick up steam in 2023. The paper concentrates on the significant contributions that Artificial intelligence (AI), Advertising video on demand (AVOD), 5G Streaming, and Chips may make to our hyperconnected society.





 The paper makes forecasts regarding the media, technology, and telecommunications industries' tendencies for 2023. The virtual reality (VR) market will expand by 50% in 2023 compared to the previous year, reaching a value of $7 billion. It is predicted that sales of VR helmets will account for 90% of the rise. In 2023, 14 million virtual reality headsets with an average cost of $450 are predicted to be marketed.As a result, there will be a 50% rise in the number of VR helmets that are now in use.


 According to Ariane Bucaille, global industry leader for technology, media, and telecommunications, "the TMT industry continues to evolve and adapt at a fast speed." "In 2023, we predict that a variety of technologies will grow quickly and be widely used to help individuals and businesses do more with less resources. Business executives now and as they look towards future growth are continuously challenged by breakthroughs in technical innovations and changing customer behaviours

. The analysis projects that the product and service spending made by social media worldwide would approach 1 trillion dollars in 2023. Given that more than 2 billion individuals used social media to buy in 2017, it is anticipated that the amount spent, which was 800 billion dollars in 2022, would increase by 25% in 2018. Virtual global production tools are expected to expand by 20% from their anticipated value of $1.8 billion in 2022 to $2.2 billion in 2023, according to Deloitte Global.


 Independent 5G networks will gradually replace earlier wireless technology advancements (2G, 3G, and 4G) by providing virtualized, cloud-centric features. The number of mobile network providers investing on 5G standalone networks is anticipated to increase from over 100 in 2022 to at least 200 by the end of 2023, according to a Deloitte analysis. The Deloitte CxO Sustainability Report claims that technology businesses are moving more quickly to combat climate change. According to predictions, technology businesses have a 13% higher chance of achieving the net zero goal than other companies.