Augmented Reality (AR) and Virtual Reality (VR) Market Trends, Opportunities and Key Players - Samsung Electronics, Qualcomm, Intel Corporation, Microsoft, Seiko Epson Corporation, Sony and Google

Global augmented reality and virtual reality market is expected to reach $94.4 billion by 2023, increase in smartphone penetration, and advancement in internet connectivity and computer technology are the major factors driving the growth of the market.

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On the basis of application, the augmented reality and virtual reality market is categorized into AR and VR applications. Consumer applications such as gaming, media, and entertainment, contributed over 30% of revenue in the market in 2017. AR and VR technologies are reaching out to the masses through different devices and platforms. Increasing penetration of smartphones and tablet computers among the consumers is providing a stable platform for augmented reality and virtual reality products.

During the forecast period, the augmented reality and virtual reality market in APAC is expected to witness a CAGR of 69%. Increase in investment in commercial and defense activities is expected to drive market growth in the region. AR applications are being developed which will provide map overlays of prominent landmarks for improving geographic awareness and enabling rescue teams with better navigation into difficult terrains.

Some of the key players in the augmented reality and virtual reality market are Samsung Electronics Corporation Limited, Qualcomm Technologies Inc., Intel Corporation, Microsoft Corporation, Himax Technologies Inc., Seiko Epson Corporation, Sony Corporation, Google LLC, PTC Inc. and Vuzix Corporation.

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Augmented Reality and Virtual Reality Market Segmentation

Market Segmentation by Device Type
• AR Devices
o Head Mounted Display (HMD)
o Head Up Display (HUD)
• VR Devices
o Head Mounted Display (HMD)
o Gesture Control Devices
o Projection Based Devices

Market Segmentation by Component
• Hardware
• Software

Market Segmentation by Application

• AR Applications
o Commercial
o Consumer
o Aerospace and Defense
o Healthcare
o Enterprise
o Others (Agriculture, Construction, Transportation & Logistics, Public Safety and Telecom & IT)
• VR Applications
o Commercial
o Consumer
o Aerospace and Defense
o Healthcare
o Enterprise
o Others (Automotive, Real-Estate and Geo-Spatial Mining)

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