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Augmented and Virtual Reality Market: Industry Vertical, Application, Opportunity Analysis

01-11-2019 06:02 PM CET | IT, New Media & Software

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
Augmented and Virtual Reality Market: Industry Vertical,

Increase in penetration of smartphones & connected devices in various application sectors and development of the gaming industry boost the augmented and virtual reality market growth. The global augmented and virtual reality market size was $11.35 billion in 2017, and the augmented and virtual reality market forecast is projected to reach $571.42 billion by 2025, growing at a CAGR of 63.3% from 2018 to 2025.

Augmented reality is a technology, which uses the existing user’s environment and overlays the digital or virtual content or information over it to offer immersive digital experience in real-time environment. Virtual reality is a computer-generated 3D environment, which completely immerses end users in an artificial world without seeing the real-world.

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Expansion of gamer’s community, rise in smartphone penetration, and increase in use of augmented and virtual reality in manufacturing & retail industries drive the growth of the global augmented and virtual reality market.

Based on application, the consumer segment led the augmented and virtual reality market in 2017. However, the enterprise segment is expected to witness the highest growth, due to its potential to reshape the business processes by recasting customer experiences.

The global augmented and virtual reality market was led by the gaming industry in 2017, and is projected to maintain its dominance during the forecast period. The healthcare sector is anticipated to witness the second highest growth rate during the forecast period.

Top Impacting Factors:
• Cost-efficient benefits of augmented and virtual reality-based solutions
• Expansion of gaming industry
• Advancement of AR/VR technology
• Lack of effective user experience design

Key Benefits for Augmented and Virtual Reality Market:
• This study includes the analytical depiction of the global augmented and virtual reality market trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and augmented and virtual reality market opportunities.
• The current market is quantitatively analyzed from 2017 to 2025 to highlight the financial competency of the industry.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the global augmented and virtual reality industry.

End-User Industry:
• Gaming
• Entertainment & Media
• Aerospace & Defense
• Healthcare
• Education
• Manufacturing
• Retail
• Others

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The key players operating in the global augmented and virtual reality market analysis include Google Inc., Sony, Magic Leap, Inc., HTC, Microsoft Corporation, Osterhout Design Group, Facebook, DAQRI, Samsung Electronics Co., Ltd., and Wikitude.

About Allied Market Research

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

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