Phillip Othen takes a closer look at virtual reality marketing. This article was produced in association the New Statesman Media Group’s AI-driven marketing solution Lead Monitor.

The global virtual reality market size was valued at $15.8bn in 2020, and is expected to reach $69.6bn by 2028, according to Grand View Research figures this year.

Within marketing, the execution of VR mainly comes in two forms: fully immersive with equipment or augmented reality (AR), where a virtual image is overlaid on the real world through a phone or computer.
Expense is clearly a factor in choosing the right tech for a campaign, with AR able to provide reach for a small cost (through an app, for example), while VR tends to be static, as the set-up and associated apparatuses need to exist in the real word.