Potential of Virtual Reality in the Current Digital Society: Economic Perspectives

Abstract

The modern world is evolving at a rapid pace. Virtual space has changed our lives and society. Augmented and virtual reality technologies are growing in popularity. Virtual reality is referred to as a simulated virtual environment, representing a physical environment. This study focuses on a thorough review of these new technologies, which will analyze the evolution of each of them in recent years in the most important categories and in the countries that are most involved in these technologies. The aim of the article is to analyze the potential use of virtual space. The article considers the positive and negative consequences of the existence of virtual space. Global indicators of digitalization (ISI, NRI, DESI) around the world are analyzed. The advent of the Internet and the World Wide Web has given a powerful impetus to the latest technologies, knowledge of which has been able to spread around the world. Their development stimulates economic growth around the world.

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