Global Augmented Reality and Virtual Reality Market - Analysis & Forecast, 2016-2022

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The competitive landscape for the Augmented Reality (AR) and Virtual Reality (VR) devices is shifting towards more aesthetically pleasing form factor which can be incorporated in the day to day lives of consumers. These technologies are compatible with devices such as smart glasses, head-up displays, head mounted displays and hand held devices among others. A definite presence of smart phones and tablet computers, high mobility and versatility, an increasing interest of large tech corporations, and technological advancement can be deemed as the primary reasons for the enhancing growth rate of the global AR and VR market.
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The AR market is estimated to reach $161.1 billion by 2022 at a CAGR of 85.4% through the forecast period. The VR market is estimated to reach $17.8 billion by 2022 at a CAGR of 44.5% through the forecast period. This growth in the AR and VR market is attributed to increase in the awareness about these technologies among the consumers, mass scale adoption of AR and VR in various industry verticals, and integration of AR and VR to create mixed reality for future applications. However, health concerns, privacy issues, and the Chinese economic slowdown are restraining the overall growth of the global AR and VR market.
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AR and VR technologies utilize different hardware platforms for their applications. These technologies are compatible with devices such as smart glasses, head-up displays, head mounted displays and hand held devices among others. Among the device type of AR, Head Mounted Display (HMD) holds the highest share of the market in 2016.
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Among the device type of VR, Head Mounted Display (HMD) holds the highest share of the market in 2016. Head mounted display in virtual reality is somewhat different from HMDs used in augmented reality as these devices completely blocks the interaction from the real world while allowing users to interact with the virtual environment or computer simulated reality. It is used in fully immersive virtual reality purposes.
The commercial application of AR generated the highest revenue among all the applications of AR. The commercial sector is utilizing AR technology on a wider level especially when it comes to hand held devices platform. AR applications are being used by retail companies to provide detailed information of the product on its packaging using smart-phones or tablet computers. Mobile advertising is also being used by AR companies to increase brand recognition among consumers. Among the major applications of VR, the consumer application generated the highest revenue in 2015.
The consumer segment of VR technology comprises of gaming and entertainment applications. Gaming market has always been one of the keen targets for VR companies. The integration of audio and video graphics into an immersive virtual world for gaming purposes has gained significant popularity among the gaming community.
Key Take-Aways

• Extensive market statistics for head worn, head worn, and body worn products, including the projected market volume and value for sub segments under the above product types
• Market size and forecast from 2013-2024 for key wearable products such as Smartwatches, fitness band, smartglasses, activity tracker, HMD/HUDs, AR VR enabled headsets, smart textiles, wearable patches and other body worn products.
• Emerging trends in product development and its likely market penetration in coming years.
• Detailed comparison of technical capabilities of various market leading product in each segment.
• Details of the key electronic components, individually for all product types, with information regarding key market players and trend

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