Augmented and Virtual Reality Market Growth to Record CAGR of 41.1% to 2031

According to the report published by Allied Market Research, the global augmented and virtual reality market generated $27.6 billion in 2021, and is estimated to reach $856.2 billion by 2031, witnessing a CAGR of 41.1% from 2022 to 2031.

The report offers a comprehensive study of changing market trends, top segments, key investment pockets, value chain, competitive scenario, and regional landscape. The report is an essential and helpful source of information for leading market players, investors, new entrants, and stakeholders in formulating new strategies for the future and taking steps to strengthen their position in the market.

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The report offers detailed segmentation of the global augmented and virtual reality market based on organization size, application, industry vertical, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps investors, market players, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.

Based on organization size, the large enterprises segment accounted for the highest share in 2021, contributing to nearly two-thirds of the total share, and is expected to maintain its leadership status during the forecast period. However, the SMEs segment is expected to manifest the highest CAGR of 43.3% from 2022 to 2030.

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Based on application, the consumer segment held the largest share in 2021, accounting for more than half of the market, and is expected to maintain its dominance in terms of revenue by 2031. However, the enterprise segment is estimated to witness the largest CAGR of 42.4% during the forecast period.

On the basis of industry vertical, the gaming segment dominated the market in 2021, accounting for nearly one-fourth of the global augmented and virtual reality market, and is projected to maintain its leading position throughout the forecast period. However, the retail segment is estimated to showcase the highest CAGR of 44.4% during the forecast period.

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Based on region, North America accounted for the highest share in 2021, contributing to nearly two-fifths of the total market share, and is projected to continue its leadership status by 2031. However, the market across Asia-Pacific is projected to portray the fastest CAGR of 43.9% during the forecast period. The research also analyzes regions including Europe and LAMEA.

Leading players of the global augmented and virtual reality industry analyzed in the research include Google Inc., Sony, Magic Leap, Inc., HTC, Microsoft Corporation, Osterhout Design Group, Facebook, DAQRI, Samsung Electronics Co., Ltd., and Wikitude.

Key Findings of the Study:

• By organization size, the large enterprises dominated the augmented and virtual reality market analysis in 2021. However, the SMEs is expected to exhibit significant growth during the forecast period.
• On the basis of application, the consumer segment dominated the Augmented and virtual reality market forecast in 2021; However, the enterprise segment is expected to witness the highest growth rate during the forecast period.
• Depending on industry vertical, the gaming industry generated the highest revenue in 2021. However, the retail industry is expected to witness the highest growth rate in the near future.
• Region-wise, the AR and VR market was dominated by North America in 2021. However, Asia-Pacific is expected to witness significant growth in the coming years.

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