Global Augmented Reality and Virtual Reality Market
Global Augmented Reality and Virtual Reality Market was valued US$ 6.1 Bn in 2017, and is expected to reach US$ 58.2 Bn by 2026, at a CAGR of 32.57% during forecast period.
Augmented reality is the advancement in technology which layers computer-generated developments with an existing reality, as developers can create images in applications that unify with contents in real world.
Using an augmented reality, users can interact with virtual contents in the real world primarily by encouraging their vision and hearing. Virtual reality consist of creation of a real life environment or situation using an artificial, computer-generated simulation or recreation. Virtual reality is all about stimulating vision and hearing, attained by the wearing of a VR helmet or goggles like oculus rift.
Applications of augmented reality and virtual reality contains literature, archaeology, architecture, visual art, commerce, education, emergency management/search and rescue, video games, industrial design and medical. Factors like growing interest of large tech companies in augmented reality, increase in demand for AR-based software applications, hardware devices for 3d visualization in medical sectors, growing demand for AR from e-commerce and retail sectors are estimated to drive Augmented Reality and Virtual Reality Market growth.
Increasing use of the technology in construction and architecture is estimated to drive augmented reality market growth during forecast period. Construction companies are deeply investing in developing the technology for designing and modelling with advanced 3D tools instead of working on time-consuming blueprints. This is resulting into increased efficiency, reduced instances of errors, and saved resources on a construction site.
Head-up displays (HUDs) for the augmentation of images are currently used in automotive, and aerospace & defense sectors for training purposes, AR market for HUDs is still in the developing phase and is close to commercialize in the near future. AR HUDs are likely to be used generally for navigation in airplanes and automotive. Information like roadmap and the speed along with other necessary details in the line of sight would be displayed at the windscreens and help the driver to drive safely. Use of head-up displays for applications like automotive, and aerospace & defense is helping the market to grow at a higher rate.
North America is estimated to be the largest growing region for Augmented Reality and Virtual Reality Market. Also, Asia Pacific is one of the fastest growing region. Increase in demand for augmented reality games along with its application by high-tech companies based in North America is boosting the overall growth of market in this region.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Augmented Reality and Virtual Reality market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in Augmented Reality and Virtual Reality market.
The scope of Global Augmented Reality and Virtual Reality Market:
Global Augmented Reality and Virtual Reality Market by Technology:
• Marker less
Global Augmented Reality and Virtual Reality Market by Device Type:
• Head-Mounted Displays
• Head-Up Display (HUD)
• Handheld Device
• Head-Mounted Display (HMD)
• Gesture Control Device
• Projector & Display Wall
Global Augmented Reality and Virtual Reality Market by Application:
• 3D Camera
• Semiconductor Component
• Software Development Kits
• Cloud-Based Services
Global Augmented Reality and Virtual Reality Market by Vertical:
• Aerospace and Defense
• Consumer Semiconductor Component
Global Augmented Reality and Virtual Reality Market by Geography:
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
Key Players Operated in Augmented Reality and Virtual Reality Market Includes:
• Microsoft Corporation Overview
• EON Reality, Inc.
• Cyberglove Systems LLC.
• Qualcomm Inc.
• Samsung Electronics Co., Ltd.
• Oculus VR, LLC
• Magic Leap, Inc.
• Google Inc.
• Vuzix Corporation
• Infinity Augmented Reality Inc.
• Osterhout Design Group
• Wikitude GmbH
• Apple Inc
• Facebook Inc.
• HTC Corporation
• Marxent Labs, LLC.
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