The future is bright for Augmented and Virtual Reality, at least according to a report issued by Allied Market Research, which names Marxent as a key player in the industry. Allied has pinned the global AR and VR market value at $760 million in 2015, and says it’s projected to reach $59 billion by 2022. Allied’s report features a competitive scenario of the AR and VR industry and “provides the comprehensive analysis of key growth strategies adopted by major players.”

Who are those major players? Again, per Allied: “Some of the key players operating in the augmented and virtual reality industry include Google Inc., Intel Corporation, Magic Leap, Marxent Labs LLC, Microsoft Corporation, NVIDIA Corporation, Oculus VR, Qualcomm Inc., Samsung Electronics, and Vuzix Corporation.”

“Augmented and virtual reality offers a cost-effective and efficient solution in training and skill development as it replicates the real scenarios by using augmented and virtual reality enabled solutions,” writes Research Analyst Sumeet Pal. “Moreover, in healthcare, training students or nurses or other medical professionals on live humans is unethical and could be harmful; thus, augmented and virtual reality-based solutions provide valid tools to train medical professionals without compromising and harming ones life.”

Marxent is the leader in Augmented Reality, Virtual Reality and 3D solutions for the home furnishings, building products and homebuilding industries. Marxent’s 3D Cloud™ platform leverages 3D visualization in combination with easy to use applications that make it fast and easy for prospective customers to configure, design and visualize a space. Clients include Fortune 500 retailers, builders and manufacturers including Ashley Furniture, American Woodmark, AZEK Building Products and USG.

Read more from the full summary of Allied’s report.