The online technologies of the future could provide Ireland with major opportunities to get a bigger slice of the €99bn 'virtual reality' (VR) and 'augmented reality' (AR) sectors.

One of the country's leading authorities is this area says we could replace Britain as the main development hub for these technologies.

"At present, Britain is undoubtedly the main market in the EU when it comes to augmented reality and virtual reality," Dublin Institute of Technology’s Alex Gibson commented.

"However with the advent of Brexit, the massive expected investment into European AR and VR will need a new home within the EU and that creates significant opportunities for other countries – particularly Ireland. There is now a major gap in the EU market and if we were to cultivate an R&D environment for AR and VR in this country we would be very well placed to occupy that space," he added.

Mr Gibson believes the country is in a great position to attract AR and VR business, "When you consider the burgeoning AR and VR community in Ireland, the significant technology talent that is already located in this country, our strong track record in working with the major multinational technology companies, our shared language with the US and then add in our corporate tax rates and the benefits provided by measures like the Knowledge Box, we are very well placed to take advantage of this opportunity."

He was speaking ahead of ARVR Innovate, Ireland's fourth annual VR conference which will take place on Thursday, May 11th in the RDS Dublin.