U.S. Augmented and Virtual Reality Market Reach to USD 134.76 Billion by 2030 | Top Key players such as - Oculus, Niantic, PTC and Sixense

According to the report published by Allied Market Research, The U.S. Augmented and Virtual Reality Market Reach to USD 134.76 Billion by 2030 | Top Key players such as - Oculus, Niantic, PTC and Sixense. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

Rise in investments in the AR market, surge in penetration of smartphones, and cost-efficient benefits of augmented and virtual reality-based solutions drive the growth of the U.S. augmented and virtual reality market. However, security and privacy issues associated with AR hinder market growth. On the other hand, rise in usage of VR headsets in amusement and theme parks, commercial applications, and others creates new opportunities in the coming years.

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The U.S. augmented and virtual reality market size was valued at USD 4.39 billion in 2020, and is projected to reach USD 134.76 billion by 2030, registering a CAGR of 41.6% from 2021 to 2030.

The U.S. augmented and virtual reality market is segmented on the basis of component, application, enterprise size, industry vertical, and region. By component, it is divided into solution, service, and connectivity type. By application, it is bifurcated into consumer and enterprise. By enterprise size, it is categorized into large enterprise and SMEs. By industry vertical, it is classified into gaming, entertainment & media, aerospace & defense, healthcare, manufacturing, retail, education, and others.

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Based on component, the solution segment accounted for the highest share in 2020, contributing to more than three-fourths of the total share, and is expected to maintain its lead position during the forecast period. However, the service segment is estimated to witness the highest CAGR of 45.5% from 2021 to 2030.

Based on application, the consumer segment contributed to the largest market share in 2020, accounting for nearly three-fifths of the U.S. augmented and virtual reality market and is estimated to maintain its lead position throughout the forecast period. However, the enterprise segment is expected to register the fastest CAGR of 43.2% from 2021 to 2030.

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Based on industry vertical, the gaming segment held the highest share in 2020, accounting for around one-third of the total share and is expected to continue its dominant share in terms of revenue by 2030. However, the healthcare segment is expected to manifest the largest CAGR of 46.1% during the forecast period.

Leading players of the U.S. augmented and virtual reality market analyzed in the research include Apple Inc., Facebook Technologies, LLC (Oculus), Cyberglove Systems, Inc., Intel Corporation, Google, Inc., Microsoft Corporation, Magic Leap, Inc., PTC, Niantic, Inc., and Sixense Enterprises, Inc.

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Impact of Covid-19 Pandemic on Augmented and Virtual Reality Market in United States-

● Rise in need among businesses to cater to customer requirements and increase their revenue opportunities resulted in increased demand for AR and VR solutions in the U.S during the pandemic.

● Moreover, surge in investment in AI from various private sectors such as medical research, healthcare, and others to fight against the pandemic led to the growth of the U.S. augmented and virtual reality market.

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