Augmented & Virtual Reality Market by Technology (Augmented Reality, Virtual Reality), by Component (Augmented Reality, Virtual Reality) and by Device (Augmented Reality, Virtual Reality) - Global Opportunity Analysis and Industry Forecast, 2018-2023

Global Augmented & Virtual Reality Market was valued at USD 12.36 Billion in the year 2017. Global Augmented & Virtual Reality Market is further estimated to grow at a CAGR of 54.91% from 2018 to reach USD 170.84 Billion by the year 2023. North America region holds the highest market share in 2017 whereas Asia Pacific region is considered as the fastest growing market in the forecasted period. At the country level, U.S. was the biggest market in 2017 and it is projected to grow at a steady pace in the coming years.

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Alphabet (Google) Inc. (U.S), Apple Inc. (U.S), Microsoft Corporation (U.S) are some of the major players in the Augmented & Virtual Reality Market. Rising research and development costs for product innovations to address varying demand of the end users are driving this market. Similarly, organic growth strategies adopted by most of Tier 1 and Tier 2 companies in last few years is also gaining popularity.

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Drivers:

• Growing usage of AR/VR in the healthcare industry

Restraints:

• The high cost of investments
• Losing experience to actual real-world reality

Opportunities:

• Rising expenditure on the infrastructural investments in AR/VR industry

Challenges:

• AR and VR may pose a cyber threat issue in the un-secure environment

The Software Components holds the highest market share with highest CAGR during the forecast period 2018 - 2023. The growth is mostly attributed to the changing user experiences and rising new product launches.

On the other hand, Head Mounted Display for Augmented and Virtual Reality Market is projected to grow at the highest CAGR of XX% during the year 2018-2023. Head Mounted Display has the largest application base and it is widely used in medical and e-commerce.

Key Benefits for Stakeholders

• Augmented & Virtual Reality product Manufacturers, Distributors, and Retailers
• Raw material suppliers
• Research and Consulting organization
• Technology Standards Organizations, Forums, Alliances and Associations
• End-use industries
• Regulatory bodies, policy actors, and consumers.

By Technology

Augmented Reality Technology:

• Marker-Based Augmented Reality
• Markerless Augmented Reality

Virtual Reality Technology:

• Semi-Immersive & Fully-Immersive Technologies
• Non-Immersive Technology

By Component

Augmented Reality:

• Augmented Reality Hardware Component
• Augmented Reality Software Component

Virtual Reality:

• Virtual Reality Hardware Component
• Virtual Reality Software Component

By Device

Augmented Reality Devices:

• Head Mounted Display
• Handheld Device
• Head up Display

Virtual Reality Devices:

• Projector & Display Wall
• Head Mounted Display (HMD)
• Gesture Control Device

By Application

Augmented Reality Applications:

• Aerospace & Defense
• Consumer
• Commercial
• Medical Verticals
• Others

Virtual Reality Applications:

• Commercial
• Consumer
• Medical
• Industrial

By Region

• North America
• Europe
• Asia-Pacific
• ROW

Key Market Players

• Microsoft Corporation (US)
• Samsung Electronics Co., Ltd. (South Korea)
• Qualcomm Inc. (US)
• Alphabet (Google), Inc. (US)
• Apple Inc. (US)
• NVIDIA Corporation (US)

(A brief overview of another 13 companies is also provided)

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