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Emerging Trends in Augmented Reality and Virtual Reality Market to Reflect Massive Expansion By 2026(40.5% of CAGR Expected)

10-23-2019 01:32 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: AllTheResearch

The augmented reality (AR) uses computerized simulation process to generate information in the form of texts, images and sounds to provide user a real-life audio-visual experience. On the other hand, virtual reality (VR) provides users a computer-generated 3D environment that lets consumers to completely experience an artificial environment. The augmented reality and virtual reality is being used for the training and skill development of the individuals in military and aviation as it provides real life scenario that reduces training costs to a large extent. Augmented reality is having its uses in gaming, entertainment, simulation, and others.

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The augmented reality and virtual reality market is expected to grow at CAGR of 40.5% owing to the increasing penetration of devices in retail, healthcare, entertainment, gaming and other accessories as head mounted devices and headphones. Most of the consumers are experiencing the three dimensional reality using smartphones and other dedicated AR devices. The rising internet connectivity and computer technology are driving the market. There are certain privacy issues, health related problems such as stress and underdeveloped graphics may hinder the market.

The global augmented reality and virtual reality market is segmented on the basis of component, device type and end-use industry. The component type is further divided as hardware and software amongst which software segment is expected to witness higher growth rate during the forecast period. Moreover, the end-use industry is segmented as consumers, entertainment, aviation and others. The consumer segment is holding the highest share in the augmented reality and virtual reality market due to the rising demand for gaming, headphones, increasing internet connectivity and computer technology.

On the basis of the region the market is segmented as North America, Europe, Asia Pacific, Latin America and Middle East Africa. The North America region is dominating the market is expected to be the market leader during the forecast period. The presence of AR and VR companies and highly advanced technologies are the reasons for the rising market demand. Moreover, Asia Pacific region is expected to witness significant growth in the AR and VR market owing to the increased acceptance of technology in end-use industry and penetration of the smartphones in the market.

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The key players in the market are Facebook, Google, Himax Technologies Inc., HTC, Microsoft Corporation, Qualcomm Technologies Inc., Samsung Electronics Co. Ltd., Sony and others. The companies are using strategies such as partnerships, mergers and acquisitions and joint ventures to expand their product portfolio and gain high market share. For instance, in June 2017, Apple, an American multinational technology company acquired SensoMotoric Instruments (SMI), a German eye tracking technology. The acquisition was aimed at expanding the product portfolio by addition of head-mounted display.

Table of Content
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Market Dynamics
Chapter 4 Global Augmented Reality and Virtual Reality Market, by Solution
Chapter 5 Global Augmented Reality and Virtual Reality Market, by Service
Chapter 6 Global Augmented Reality and Virtual Reality Market, by Device Type
Chapter 7 Global Augmented Reality and Virtual Reality Market, by End-use Industry
Chapter 9 Competitive Intelligence
Chapter 10 Company Profiles

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About AlltheResearch:
AllTheResearch was formed with the aim of making market research a significant tool for managing breakthroughs in the industry. As a leading market research provider, the firm empowers its global clients with business-critical research solutions. The outcome of our study of numerous companies that rely on market research and consulting data for their decision-making made us realise, that it’s not just sheer data-points, but the right analysis that creates a difference.

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