Press release
Virtual and Augmented Reality Market - Global Industry Forecast 2016 - 2024
Despite taking longer than usual to evolve into a mainstream consumer product, upcoming augmented reality gadgets, which combine the virtual world with the real world through sophisticated devices, are forecast to emerge as a thriving business by 2024. Virtual reality (VR) technology has been existent for several years now and augmented reality (AR) has now emerged as an advanced variant of VR.Augmented reality provides a live direct or indirect view of the users’ real-world environment with elements that are augmented using computer-generated images and data. Virtual reality, also known as immersive multimedia, is a computer technology used to replicate an environment, real or imaginary, to simulate the viewer’s physical presence in a way that allows the viewer to interact with the environment.
AR technology has been exhibiting ubiquitous growth in the world of smartphones featuring global positioning system (GPS) and a camera. These features allow users to experience technology beyond their imagination. The growth reported by the AR market has been incredible and in the last year it successfully penetrated the field of advanced learning and teaching technologies. Additionally, virtual and augmented reality technologies will be increasingly used in projects related to smart innovations in the coming years ahead.
The report provides an executive-level blueprint of the global virtual and augmented reality market. It analyzes the strategic contribution of the novel technologies on the virtual and augmented reality market and provides refined forecasts pertaining to the market’s growth prospects. It compiles valuable information pertaining to the applications of VR and AR and reviews the present business models that have been put into practice by the existing players. Opportunities in the market for the entry of new companies have been also evaluated in the report.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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