Press release
Augmented Reality and Virtual Reality Headset Market is Set to Soar, Reaching USD 105.69 Billion by 2030
Augmented Reality and Virtual Reality Headset Market
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Market Dynamics and Trends:
The AR and VR headset market is propelled by dynamic trends across various industries. In healthcare, surgeons leverage AR for intricate procedures, while VR is deployed to alleviate post-traumatic stress disorder and anxiety. The gaming industry sees a surge in demand for immersive experiences, exemplified by Meta's announcement of VR games integration in its Quest platform. Major automotive players like BMW harness AR and VR for design and prototyping, enhancing user customization with tools like 'BMW Virtual Viewer.'
However, challenges such as the high cost of headsets and potential side effects, like eye strain, impede market growth. Yet, the integration of AR and VR into e-commerce applications, such as virtual makeup trials and virtual glasses fitting, opens avenues for substantial growth.
North America Dominance:
• Maintains stronghold in XR headset market.
• Dominated by key players, including Google and Meta.
• Recognized for driving innovations in the industry.
Asia-Pacific Growth:
• Exhibits steady growth in the XR headset market.
• Driven by local manufacturers such as Tecknotrove Systems.
• Government initiatives contribute to growth.
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Key Market Segments:
By Type:
• Standalone HMD
• Tethered HMD
• Screenless viewer
• Others
By Application:
• Enterprise
• Large Enterprises
• Small Enterprises
• Medium-sized Enterprises
• Consumer
By Industry Vertical:
• Entertainment & Media
• Aerospace & Defense
• Manufacturing
• Healthcare
• Gaming
• Education
• Retail
• Telecommunication
• Others
By Geography:
North America
• U.S.
• Canada
• Mexico
Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Rest of Europe
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Australia
Rest of Asia-Pacific
• RoW
• UAE
• Saudi Arabia
• South Africa
• Brazil
• Remaining countries
• LG Electronics Inc.
The competitive landscape features industry giants such as Meta (Oculus), Pico, Sony Corporation, DPVR, iQiyi, Nolo, Vuzix Corporation, Samsung Group, Apple, HTC, Razer Inc., Avegant Corporation, Microsoft Corporation, and Google, Inc. These players employ strategic measures, including product launches and innovations, to sustain dominance. Google's announcement of smart AR glasses with live translations and Microsoft's Mesh service for collaborative augmented reality applications are prominent examples.
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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…
