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What's driving the Augmented Reality and Virtual Reality Market Size? Sony Corporation, Oculus VR, Samsung Electronics Co. Ltd. , HTC Corporation, Google Inc., PTC Inc., Microsoft Corporation , Wikitude, DAQRI, Zugara

05-20-2020 01:50 PM CET | IT, New Media & Software

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What's driving the Augmented Reality and Virtual Reality Market

Selbyville, Delaware This Global Augmented Reality and Virtual Reality report studies the industry based on one or more segments covering key players, types, applications, products, technology, end-users, and regions for historical data as well as provides forecasts for next few years.

Global Augmented Reality and Virtual Reality Market is valued approximately at USD 18.53 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 63.3% over the forecast period 2019-2026. Augmented Reality overlays the digital or virtual content over the existing user's environment offering immersive digital experience in real-time environment. Virtual reality on the other hand is a 3D environment generated by the computer which completely immerses end-users in an artificial world without seeing the real-world.

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Major market player included in this report are:
Sony Corporation (Japan)
Oculus VR (US)
Samsung Electronics Co. Ltd. (South Korea)
HTC Corporation (Taiwan)
Google Inc. (US)
PTC Inc. (US)
Microsoft Corporation (US)
Wikitude (Austria)
Zugara (US)

The AR applications are developed on special 3D programs enabling the developer to integrate contextual or digital content with the real world in real time. While the VR offers realistic user experience of artificial world in interactive simulated environment. The market growth is primarily driven by increasing penetration of smartphones & connected devices in multiple Device Type sectors and the soaring demand for AR and VR in the retail and e-commerce sectors and business enterprises. The growing use of these technologies in other sectors such as healthcare, education and Media & entertainment further fuels the market growth. Further, the upsurge in the Video gaming industry due to the integration of AR and VR devices which provides realistic feel to the gamers through 3D visualization and animation has led the adoption of Augmented Reality and Virtual Reality across the forecast period. Also, augmented and virtual reality provides a cost-effective and efficient solution in training and skill development, as it replicates the actual scenarios by using technologies, is expected to fuel the demand for Augmented Reality and Virtual Reality. The rise in investments through major market players for the development of AR and VR devices presents an opportunistic market. As per the Digi Capital AR/VR Analytics Platform, a total of USD 4.1 billion of investments by public and private sector were recorded in AR/VR sector in 2019, which was the third highest virtual reality and augmented reality investment for the year after 2017 and 2018.

The regional analysis of global Augmented Reality and Virtual Reality market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rapid adoption of new technology by the masses and presence of several augmented & virtual reality companies. U.S. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as rise in adoption of technologically advanced solutions, increase in application areas among end-use industries, and surge in penetration of smartphones in the emerging economies such as China and India would create lucrative growth prospects for the Augmented Reality and Virtual Reality market across Asia-Pacific region.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Device Type:
AR Devices
VR Devices
By Component:
By Application:
Aerospace & Defense

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