Press release
Augmented Reality and Virtual Reality Market Size 2022 To Grow At A CAGR Of 32.5% By 2029, Due To Adoption Of Advanced Technologies For Top Companies, Global Growth till Forecast 2029
The Global Augmented Reality and Virtual Reality Market is forecast to reach USD 190.07 billion by 2029 by rising at a compound annual growth rate (CAGR) of 32.5% throughout the forecast period from 2022 to 2029Augmented Reality and Virtual Reality Market Overview
Strong government funding to support the growth of the AR and VR market, partnerships between manufacturers of augmented reality devices and various service industries, a boom in the usage and demand for virtual reality in e-learning, medical training, and increased demand for virtual reality headsets are the main factors fueling the market's growth.
Recent developments in the markets for augmented reality and virtual reality have an influence on organisations and enterprises. Customers find it easier to utilise digitised products, which is why the majority of firms today have converted to digital augmented reality and virtual reality. Retailers are seeking for methods to make the most of their online presence in response to the increase in digitization and the number of customers engaging in online activities.
The global Augmented Reality and Virtual Reality market report widely offers the latest information about technological developments and market growth forecasts based on the regional landscape.
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Industry Development
In February 2022, HTC Vive announced Viveverse, a cross-platform metaverse, which is an open source VR metaverse composed of various interactive worlds, apps, games. It enables the users to travel between various platforms like Vive Sync and Engage.
In January 2022, Sony enhanced its already existing product - VR headset - PSVR headset. Sony claimed to develop a PSVR headset for better experience of virtual reality in PlayStation as the PSVR headset will connect directly into PlayStation 5 console.
Research Methodology:
To calculate the market size, the report considers the revenue generated from the sales of Augmented Reality and Virtual Reality market manufacturers. The revenue created from the sales of Augmented Reality and Virtual Reality Market has been calculated through primary and secondary research.
The market size assessment also considered leading players revenues as part of triangulation the key players considered are Google, PTC, Apple, Sony, Samsung Electronics, Microsoft, HTC, Oculus, Seiko Epson, Lenovo, Wikitude, Magic Leap, Blippar, Upskill, MAXST, EON Reality, Vuzix, CyberGlove Systems, Leap Motion, and Sixense Enterprises and Others.
The Augmented Reality and Virtual Reality Market has been segmented as below:
Augmented Reality and Virtual Reality Market by Technology, 2020-2029, (USD Million)
Augmented Reality
Marker-Based
Marker less
Anchor-Based
Virtual Reality
No immersive
Semi- and Fully Immersive
Augmented Reality and Virtual Reality Market by Offering, 2020-2029, (USD Million)
Hardware
Software
Augmented Reality and Virtual Reality Market by Application, 2020-2029, (USD Million)
Consumer
Aerospace & Defense
Healthcare
Commercial
Enterprise
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Augmented Reality and Virtual Reality Market: Regional Analysis
Geographically, this report is segmented into several key countries, with market size, growth rate, import and export of Augmented Reality and Virtual Reality market in these countries, which covering North America, U.S., Canada, Europe, UK, Germany, France, Spain, Italy, ROE, Asia Pacific, China, India, Japan, Australia, South Korea, RoAPAC, Latin America, Brazil, Mexico and Rest of the World.
Geographically, the market is dominated by APAC, North America and Europe.
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Major Key areas that have been focused on in the report:
Raw material supply analysis
Major trends noticed in the Global Augmented Reality and Virtual Reality Market
Market Geographic limitations, and pricing issues
Distribution, scheduling, performance, and supplier requirements
Growth opportunities that may emerge in the industry in the upcoming years
In-depth value chain analysis
Sustainability trends and environmental concerns
Market Gap and Opportunities
Global Market Growth Drivers, Opportunities, and Constraints.
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Market Scenario
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…
