Global Augmented Reality and Virtual Reality Gear Market to Witness Substantial Growth During the Period of 2017-2021

Summary

Orbis Research Latest Report: Global Augmented Reality and Virtual Reality Gear Market to grow at a CAGR of 37.45% during the period 2017-2021 with Major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.

Description

Global Augmented Reality and Virtual Reality Gear Market 2017-2021
The Following Companies as the Key Players in the Global Augmented Reality and Virtual Reality Gear Market: DAQRI, Microsoft, Atheer, Meta, BAE Systems, Samsung Electronics, Oculus, HTC, Google, Sony, Razer, VisusVR, FOVE, and Starbreeze.

Commenting on the report,: “The latest trend gaining momentum in the market is growing developer interest in AR and VR apps. The growth of the AR and VR market crucially depends on individual developers. The recent launch of the highly popular game Pokémon Go has increased interest and awareness about AR technology among users”

According to the report, one of the major drivers for this market is use of AR technology for effective advertising. With the use of AR, marketers can combine the physical world with the digital world. It creates opportunities for users as well as brands to connect with the product on a real-time basis, thereby driving purchases. AR advertisements are highly immersive and give customers the opportunity to find the best fit by responding to the requirements and matching one's interests.

Further, the report states that one of the major factors hindering the growth of this market is lack of content. There are numerous AR apps available in the market. These apps are developed mostly by individuals and companies. However, the majority of these apps fail to meet users' expectations, thereby reducing the growth potential and acceptance of AR among consumers.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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This release was published on openPR.