Virtual And Augmented Reality Market to Witness Stunning Growth By 2027 | Major Players Blippar Inc., Cyberglove Systems LLC., Daqri LLC, EON Reality, Inc., Google Inc., Infinity Augmented reality Inc., Magic Leap, Inc., Meta Company

Virtual Reality (VR) produced incredible three-dimensional artificial worlds and incredible and delightful experiences for users whereas augmented reality (AR) creates an amazing real world. VR is a computer-created 3D environment that embrace the artificial world and AR applications are produced on special 3D programs that offer developers to integrate digital content with the real world in real-time. VR solution provides a realistic experience of the artificial world to the user in an interactive environment.

Increasing usage of smartphones and other connected devices across the globe is predominantly fueling the market growth of augmented and virtual reality. The market of augmented and virtual reality is also expected to gain benefits from the booming gaming industry around the globe and this can be attributed to the growing younger population and increasing disposable income. According to revised Newzoo research, the global games market was predicted to be worth $134.9 billion in 2018. The largest sector of this was mobile gaming which was estimated to be worth $63.2 billion, 47% of the global games market.

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From the geographical perspective, Asia Pacific is expected to exhibit significant growth over the forecast period and this can be attributed to the increasing population base rate, growing usage of smartphones, and the rising launch of innovative VR and VR solutions by the manufacturer in the region. For instance, in July 2019, TIME introduced TIME Immersive, augmented reality and virtual reality app, available on both iOS and Android devices, to showcase new AR and VR projects from TIME.

Key Developments:

• In December 2019, SuperData, a Nielsen company has launched SuperData XR Dimensions, the most comprehensive, powerful XR business intelligence platform, covering global and regional virtual reality (VR), augmented reality (AR) and mixed reality (MR) segments.

• In September 2017, IKEA has launched a new augmented reality (AR) application that allows users to test IKEA's products in real-time through Apple iOS 11’s ARKit technology. Dubbed IKEA Place, the iPhone- and iPad-compatible free application features realistically-rendered, true-to-scale 3D products.

• In March 2019, EON Reality Inc., engaged in Augmented and Virtual Reality-based knowledge, and Toyota Material Handling, the world leader of material-handling solutions, announces the establishment of the partnership to bring Augmented and Virtual Reality (AVR) technology for both training purposes and to support Toyota’s Customer Lean Transformation.

• In September 2019, XRHealth, formerly known as VRHealth, engaged in extended reality and therapeutic applications, announced a partnership with Allscripts to provide an integrated VR/AR platform, leveraging Allscripts Open APIs.

Market Dynamics

Rising trend of adopting virtual and augmented reality technology in various application such as videogames, engineering, healthcare, live events, video entertainment, real state, retail, military, and training & education have accelerated the market growth, globally. Adoption of augmented and virtual reality technology in military application helps to provide better training to soldiers. Combat training, flight simulation, battlefield simulation, and vehicle simulation are some of the virtual reality application used in the military and defense segment. For example: the U.S. DoD has adopted virtual and augmented reality to reduce its training budget. According to US Navy, the Navy will invest US$ 6 billion to US$ 6.12 billion per year for training and simulation purpose from 2016 to 2021.

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Key features of the study:

• This report provides an in-depth analysis of virtual and augmented reality market and provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2017– 2025), considering 2016 as the base year

• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market

• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players

• It profiles leading players in the global Virtual or Augmented Reality Market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans.

• Key companies covered as a part of this study include Blippar Inc., Cyberglove Systems LLC., Daqri LLC, EON Reality, Inc., Google Inc., Infinity Augmented reality Inc., Magic Leap, Inc., Meta Company, Metaio GmbH, Microsoft Corporation, Oculus VR, LLC, Osterhout Design Group (ODG), Qualcomm Inc., Samsung Electronics Co., Ltd., and Vuzix Corporation

• Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launch, technology up-gradation, market expansion and marketing tactics

• The global Virtual or Augmented Reality Market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts

• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the Virtual or Augmented Reality Market.

Detail Virtual or Augmented Reality Market Segmentation:

Global Virtual or Augmented Reality Market, By Component:

Software
Hardware

HMDs
Input Systems

Global Virtual or Augmented Reality Market, By Application:

Videogames
Engineering
Healthcare
Live Events
Video Entertainment
Real State
Retail
Military
Training and Education

Global Virtual or Augmented Reality Market, By Region:

North America
Europe
Asia Pacific
Latin America
Africa
Middle East

Company Profiles

Blippar Inc.
Cyberglove Systems LLC.
Daqri LLC
EON Reality, Inc.
Google Inc.
Infinity Augmented Reality Inc.
Magic Leap, Inc.
Meta Company
Metaio GmbH
Microsoft Corporation
Oculus VR, LLC
Osterhout Design Group (ODG)
Qualcomm Inc.
Samsung Electronics Co., Ltd.
Vuzix Corporation

Section

References
Research Methodology
About us and Sales Contact

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