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Augmented Reality and Virtual Reality Market Size, Share: Emerging Technologies, Sales Revenue, Key Players Analysis, Development

02-09-2023 11:53 AM CET | IT, New Media & Software

Press release from: The Insight Partners

Augmented Reality and Virtual Reality Market

Augmented Reality and Virtual Reality Market

The Augmented Reality and Virtual Reality Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Technology, Component, and End-User Industry," the market is expected to grow from US$ 27.96 billion in 2021 to US$ 252.16 billion by 2028; it is estimated to grow at a CAGR of 36.9% during 2021-2028. This evolution in the network security firewall has been majorly attributed by the dynamic growth in the IT industry resulting in the growth of disruptive and connected technologies such as IoT. Owing to these, transformations have paved the way for heinous and malicious practices resulting in data and revenue loss for various organizations.

You Can Get a Sample Copy of This Report @ https://www.theinsightpartners.com/sample/TIPTE100000114/?utm_source=openPR&utm_medium=10642

The Key Players in The Global Market Are: 

Immersive Gaze
Google LLC
EON Reality
Vuzix Corporation
Blippar Group Limited (Layar B V)
Innovega Inc.
Simulanis Solutions Private Limited
Kanda ApS
YeppAR
Zugara, In

Based on technology, the augmented reality and virtual reality market is bifurcated into augmented reality and virtual reality. In 2021, the augmented reality segment led the augmented reality and virtual reality market. Based on component, the augmented reality and virtual reality market is segmented into semiconductor components, sensors, and others. In 2021, the semiconductor components segment accounted for the largest market share. Based on the end-user industry, the augmented reality and virtual reality market is segmented into entertainment, educational, industrial, medical, real estate & architecture, retail, aerospace & defense, and others. In 2021, the entertainment segment accounted for the largest market share. By geography, the augmented reality and virtual reality market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2021, North America accounted for the largest share in the augmented reality and virtual reality market.

Have Question? Speak to Analyst at: https://www.theinsightpartners.com/speak-to-analyst/TIPTE100000114?utm_source=openPR&utm_medium=10642  

The report segments the global Market as follows:

By Technology (Augmented Reality and Virtual Reality),
By Component (Semiconductor Components, Sensors, and Others), and
By End-User Industry (Entertainment, Educational, Industrial, Medical, Real Estate & Architecture, Retail, Aerospace & Defense, and Others)

The retail sector has adopted the VR and AR technologies much before the onset of the COVID-19 pandemic. According to IBM's 2020 (US) Retail Index report, the pandemic expedited the shift to digital purchasing by five years. The popularity of virtual "try-before-you-buy" experiences-ranging from previewing furniture and products with daily brands such as IKEA and Home Depot to digitally trying on luxury fashion clothing of brands such as Louis Vuitton and Gucci-has increased significantly. Similarly, GLAMlab's Ulta's virtual try-on beauty tool is being highly adopted by people during the COVID-19 pandemic.

In addition, when jewelry manufacturer Kendra Scott's stores were temporarily closed, the company implemented an AR application that let buyers visually try on earrings comfortably from their homes. Thus, a rise in the adoption of AR by customers and increased investments by retailers in this technology during the pandemic favored the augmented reality and virtual reality market growth.

Purchase a copy of Augmented Reality and Virtual Reality Market research report @ https://www.theinsightpartners.com/buy/TIPTE100000114/?utm_source=openPR&utm_medium=10642

Answers that the report acknowledges:

Market size and growth rate during forecast period.
Key factors driving the Market.
Key market trends cracking up the growth of the Market
Challenges to market growth.
Key vendors of Augmented Reality and Virtual Reality Market
Detailed SWOT analysis.
Opportunities and threats face by the existing vendors in Global Market
Trending factors influencing the market in the geographical regions.
Strategic initiatives focusing the leading vendors.
PEST analysis of the market in the five major region

Contact Us:
If you have any queries pertaining to the report or would like further information, feel free to reach out to us at-
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

ABOUT US:

The Insight Partners is a one stop industry research provider of actionable solutions. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are specialist in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Our research model is very simple. We believe in client servicing and delivering best quality to our customers. Through our research content, we are making sure that our customers get value of their money along with better quality data and analysis.

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