AR & VR-Augmented reality and Virtual Reality what was one a dream is now a reality and used by millions of people in gaming environment and other domains. The recent marketing of cost-effective devices has increased the use of AR and VR. AR and VR is used in many industries like construction, manufacturing, education, fashion designing, healthcare etc., MRITF-Mixed Reality Interfaces have made a huge impact on creating new environments from which industries like education, military training, design etc., can have major benefits. This paper focuses on three factors i) How AR & VR tools work- the technology behind multi modal sensory action and reaction 2) The recent market products available in AR and VR iii) The use of AR, VR, MRITF in Industry.