U.S. Augmented and Virtual Reality Market Size is projected to reach USD 134.76 Billion by 2030 | Valuates Reports

The U.S. augmented and virtual reality market size was valued at $4.39 billion in 2020, and is projected to reach $134.76 billion by 2030, registering a CAGR of 41.6% from 2021 to 2030. Virtual reality is an extensive term for a multi-sensory computer-generated experience that enables users to experience and interact with a simulated environment. Whereas, augmented reality enhances the real world using digitally produced perceptual overlays. Furthermore, virtual reality is the use of computer technology to create a simulated environment, which can be explored in 360 degrees. In addition, games, surgery, and flight simulators are the most well-known uses of virtual reality. In addition, it allows students to explore, experience, and immerse in virtual environments.

The US augmented & virtual reality industry is expected to attain significant growth during the COVID-19 pandemic, owing to increase in need among business to improve customer needs and upsurge their revenue opportunity. In addition to this, surge in investment in AI by various private sectors such as healthcare, medical research and others, to fight against the pandemic situations propels the growth of the market.

The rise in investment in the AR market and surge in penetration of smartphones & mobile gaming boost the growth of the U.S. augmented and virtual reality market. In addition, increase in adoption of augmented & virtual reality solutions in education positively impacts the growth of the U.S. AR & VR market. However, factors such lack of effective user experience design and security and privacy issues associated with AR is expected to hamper the U.S. AR and VR market growth. On the contrary, increase in usage of VR headsets in amusement and theme parks, commercial applications, and other places is expected to offer remunerative opportunities for the expansion of the U.S. augmented and virtual reality market during the forecast period.

Inquire for SAMPLE Report: https://reports.valuates.com/request/sample/ALLI-Manu-0C33/U_S_Augmented_and_Virtual_Reality_Market

By application, the consumer segment garnered the largest augmented and virtual reality share and is expected to maintain its dominance in the upcoming years as consumers are increasingly using augmented and virtual reality due to advancements in VR devices and growth in usage of AR devices for software development and the creation of standardized platforms which is providing lucrative opportunity for the U.S. augmented and virtual reality market growth. However, the enterprise segment is expected to witness highest growth, owing to development of new businesses and IT applications among companies across numerous industrial sectors. In addition, AR and VR technologies are disrupting the market with several real-world applications, which are emerging continuously in enterprise segments. AR and VR provide new opportunities to transform the enterprise, mainly in the areas of collaboration & communication, training & simulation, and field & customer service as well as for customer experiences. This is expected to drive the growth of the U.S. AR & VR market during the forecast period.

View Full Report: https://reports.valuates.com/market-reports/ALLI-Manu-0C33/u-s-augmented-and-virtual-reality

By industry vertical, the gaming segment garnered the largest augmented and virtual reality share and is expected to maintain its dominance in the upcoming years owing to rise in number of gaming industries and increase in cartoon production houses. Furthermore, many large companies are developing and launching games in the midst of the COVID-19 pandemic, which is expected to boost the growth of the market.

For instance, Niantic Labs, the maker of Pokémon Go, is teaming with Nintendo for a new augmented reality video game based on the spritelike Pikmin which is possible due to Niantic’s AR technology to make gamers experience the world as if Pikmin are secretly living all around us. Thus, number of such developments across the U.S. drives the growth of the market. However, the healthcare segment is expected to witness highest growth, owing to massive utilization of virtual reality for research process and pre-surgical analysis of internal organs by researchers and surgeons.

The report focuses on growth prospects, restraints, and trends of the U.S. augmented and virtual reality market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors, such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers, on the U.S. augmented and virtual reality market share.

By Component
➣Solution
➣Services
➣Connectivity Type

By Application
➣Consumer
➣Enterprises

By Enterprise Size
➣Large Enterprises
➣Small & Medium Enterprises

By Industry Vertical
➣Gaming
➣Entertainment & Media
➣Aerospace & Defense
➣Healthcare
➣Manufacturing
➣Retail
➣Education
➣Others

Key Market Players
➣Apple Inc.
➣Cyberglove Systems, Inc.
➣Facebook Technologies, LLC (Oculus)
➣Google, Inc.
➣Intel Corporation
➣Magic Leap, Inc.
➣Microsoft Corporation
➣Niantic, Inc.
➣PTC
➣Sixense Enterprises, Inc.

Similar Reports:

Augmented Reality Market: https://reports.valuates.com/market-reports/QYRE-Othe-1P227/augmented-reality

Head Up Display Market: https://reports.valuates.com/market-reports/QYRE-Othe-4C177/head-up-display

Augmented and Virtual Reality Market: https://reports.valuates.com/market-reports/ALLI-Auto-4H304/augmented-and-virtual-reality

Augmented and Virtual Reality in Healthcare Market: https://reports.valuates.com/market-reports/QYRE-Auto-15R6136/global-augmented-reality-and-virtual-reality-in-healthcare

Valuates Reports
sales@valuates.com
For U.S. Toll Free Call +1-(315)-215-3225
For IST Call +91-8040957137
WhatsApp : +91-9945648335

Website: https://reports.valuates.com
Twitter - https://twitter.com/valuatesreports
Linkedin - https://in.linkedin.com/company/valuatesreports
Facebook - https://www.facebook.com/valuatesreports/

Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.

This release was published on openPR.