Augmented and virtual reality companies continue to harness the technology for everything from family entertainment to healthcare and workplace safety. Xreal’s wearable displays offer users new options for integrating AR with workflows and devices, and RayNeo’s ultralight AR glasses deliver AI features and a stunning 43-inch virtual display. AR and VR are even creating innovative forms of entertainment. Cosm has built “shared reality” domes that let spectators immerse themselves in sports and movies as if they were in the stadium or scene, and Immotion’s VR shows bring education and entertainment to a host of zoos and museums. Virtuix takes VR entertainment to the home gym, with a variety of games available to play—and exercise with—on its omnidirectional treadmill hardware.
In the workplace, AR and VR are making employee training and product prototyping safer and more efficient. Squint offers easy creation of practical demos for manufacturing workers, and Loft Dynamics’ VR simulators expand training options for helicopter and airplane pilots. Dassault Systèmes helps designers and engineers explore even complex industrial products virtually before they assemble costly prototypes. And TechSee’s technology lets internet service providers and customers troubleshoot their Wi-Fi connections using private digital twins of their home networks. Meanwhile, XRHealth is bringing XR-powered physical and behavioral treatments to patients in medical facilities and at home.
1.Cosm
For bringing truly immersive sports and entertainment to venues around the country
Cosm operates immersive “shared reality” venues that, thanks to 87-foot diameters, 12K+ resolution LED domes, and partnerships with major sports leagues and broadcasters, can make fans feel like they’re at the game without making the trek to the stadium, even for championship events. The experience comes complete with high-end sports-bar-style food and drinks. But the action isn’t limited to sports: Thanks to a partnership with Warner Bros. Pictures, Cosm also debuted a shared-reality version of the science-fiction film The Matrix last year, in time for its 25th anniversary, and screened a version of the family-friendly classic 1971 film Willy Wonka & the Chocolate Factory. The screenings included immersive visual elements extending the movies beyond the standard two-dimensional rectangular screen, providing a new incentive for audiences to go to the movies instead of streaming at home. In 2025, Cosm also announced new partnerships with leagues, including WWE and the PGA Tour, as well as new multiyear deals with the NFL, NBA, and Fox Sports. Cosm also began construction on new dome venues in Detroit and Atlanta, adding to the installations the company already operates in Los Angeles and Dallas. A fifth location is slated for Cleveland. By the start of 2025, Cosm had raised more than $300 million at a valuation of more than $1 billion.
2. Loft Dynamics
For employing virtual reality to train the next generation of aircraft pilots
Loft Dynamics builds virtual reality training platforms for aircraft pilots. In April 2025, it announced an investment from and partnership with Alaska Airlines as they build the first hyperrealistic VR simulator for the popular Boeing 737. Loft also began work on a simulator for the Airbus A320 and released the first VR simulator for the Airbus H145, one of the world’s most popular helicopters. A new program with the Los Angeles Police Department, announced in March 2025, enables LAPD pilots to train within a full-scale virtual replica of the Airbus H125 helicopter. Loft announced in September that its H125 simulator has been qualified at the highest level of pilot training devices by the Federal Aviation Administration. In November, Loft also announced plans to develop Apple Vision Pro software for home practice. The company’s technology is used at Marshall University, the first US university to integrate such a platform for aspiring pilots. Loft says its technology costs less than 10% of the hourly cost of physical aircraft for training pilots, while improving trainee safety even in complex emergency maneuvers. This helps address the ongoing shortage of qualified aircraft pilots and high training costs.
3. XRHealth
For harnessing extended reality technology for new forms of healing
