Augmented reality and virtual reality technologies are witnessing an evolutionary change in the 5G and Beyond (5GB) network due to their promising ability to enable an immersive and interactive environment by coupling the virtual world with the real one. However, the requirement of low-latency connectivity, which is defined as the end-to-end delay between the action and the reaction, is very crucial to leverage these technologies for a high-quality immersive experience. This paper provides a comprehensive survey and detailed insight into various advantageous approaches from the hardware and software perspectives, as well as the integration of 5G technology, towards 5GB, in enabling a low-latency environment for AR and VR applications. The contribution of 5GB systems as an outcome of several cutting-edge technologies, such as massive multiple-input, multiple-output (mMIMO) and millimeter wave (mmWave), along with the utilization of artificial intelligence (AI) and machine learning (ML) techniques towards an ultra-low-latency communication system, is also discussed in this paper. The potential of using a visible-light communications (VLC)-guided beam through a learning algorithm for a futuristic, evolved immersive experience of augmented and virtual reality with the ultra-low-latency transmission of multi-sensory tracking information with an optimal scheduling policy is discussed in this paper.
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