Press release
Virtual and Augmented Reality Market Poised for Steady Growth in the Future
Download exclusive Sample of this report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=10556
The threat of entry from new entrants is, at present, low. However, the rapid pace of technological advancements and a growing number of strategic alliances and partnerships are factors expected to intensify the competition in the virtual and augmented reality market, observes TMR. Furthermore, in the coming years, increasing areas of applications in various end-use industries will offer lucrative avenues for players to capitalize on.
The global market for virtual and augmented reality is projected to clock a substantial CAGR of 92.50% from 2016 to 2024. Rising at this exponential pace, the overall opportunity in the market is anticipated to surge to US$547.20 bn by the end of the forecast period.
Obtain Report Details @ https://www.transparencymarketresearch.com/virtual-augmented-reality-market.html
Hardware Segment to Reign Supreme throughout Forecast Period
Based on component, the virtual and augmented reality market is segmented into software, hardware, and services. The hardware segment is further divided into head-mounted display, head-up display, console, glasses, camera, projector, and sensor/input. Currently, the segment for hardware leads the market and is projected to maintain its dominance throughout the forecast period. The growth is driven by extensive demand for technological advanced mixed reality technologies, particularly augmented reality-based head-up display, in the automotive sector.
Geographically, the market is segmented into Europe, Asia Pacific, North America, South America, and the Middle East and Africa. Of these, the Asia Pacific market for virtual and augmented reality has witnessed spectacular growth in the recent years, and is expected to rise at a substantial pace over the forecast period. A key factor boosting the regional market is the emergence of China as the leading domestic market.
Growing Demand for Augmented-Reality Head-Mounted Displays to Boost Market
The virtual and augmented reality market is primarily driven by the growing number of application areas in diverse end-use industries such as healthcare, education, retail, gaming, construction, media and entertainment, automotive, and defense and aerospace. Substantial advancements in the hardware and software of virtual reality (VR) and augmented reality (AR) technologies have expanded their applications several areas. For instance, recent advances in display technologies have enabled users gain a better immersive experience in the gaming sector. The growing application of head-mounted display (HUD) in vehicles as an advanced virtual reality technology is expected to boost the market. In addition, the application of augmented reality in HUD has offered drivers more control of vehicles and improved their safety and comfort. Furthermore, recent advances in human-machine interface have made them more interactive and informative for drivers, thereby accentuating the market.
In recent years, several technical considerations are made by original equipment manufacturers (OEMs) and developers to improve the functionalities of AR and VR, which bodes well for the market in the coming years. However, the high cost of devices and substantial funds required for R&D adds to the cost of HUD-equipped vehicles. This is a key factor hindering the demand for such technologies in cash-strapped economies. Nevertheless, constant innovations in AR and VR is a crucial factor expected to open up exciting opportunities for players over the forecast period. Over the years, with the commercialization of AR and VR technologies, the cost of software is expected to come down considerably.
About Us
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends 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. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
US Office Contact
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Virtual and Augmented Reality Market Poised for Steady Growth in the Future here
News-ID: 799975 • Views: …
More Releases from Transparency Market Research
Global Solar Powered Agricultural Dryer Market to Exceed USD 2.4 Billion by 2031 …
The global solar powered agricultural dryer market, valued at US$ 1.6 billion in 2022, is projected to grow at a CAGR of 5.8% from 2023 to 2031, reaching US$ 2.4 billion by the end of 2031. Rising investments in renewable energy, growing awareness of sustainable agricultural practices, and the rapid expansion of the agricultural sector driven by population growth are key factors fueling market growth.
Uncover essential discoveries and trends from…
Technetium-99m Market Forecast 2034: Rising Demand for Diagnostic Imaging and Ra …
The global Technetium‐99m Market was valued at US$ 6.0 Billion in 2023 and is projected to grow at a CAGR of 3.3% from 2024 to 2034, surpassing US$ 8.6 Billion by the end of the forecast period. Advancements in nuclear imaging infrastructure, government-backed healthcare initiatives, and an increasing demand for precise diagnostic procedures are fueling this growth.
Discover essential conclusions and data from our Report in this sample -
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=77100
Analysts' Viewpoint
The Technetium‐99m…
Equine Diagnostic Services Market Outlook 2030: From US$ 168 Million in 2019 to …
The global Equine Diagnostic Services Market, valued at approximately US$ 168 million in 2019, is projected to expand at a compound annual growth rate (CAGR) of ~5% from 2020 to 2030, reaching around US$ 280 million by 2030. Equine diagnostic services, encompassing tests like genetic, infectious disease, and imaging diagnostics, are critical for managing horse health in veterinary hospitals, clinics, and mobile settings. The market is driven by increasing equine…
Digital Printing Market to Reach USD 54.4 Billion by 2034, Growing at a CAGR of …
The digital printing market is experiencing strong growth, driven by rapid technological advancements, rising demand for personalized and on-demand printing, and an increasing focus on sustainable solutions. Digital printing allows for the direct transfer of digital files onto a wide range of substrates, offering high-resolution output with greater speed and flexibility. Its adaptability has led to broad adoption across industries such as packaging, textiles, publishing, and advertising-sectors where customization, efficiency,…
More Releases for TMR
Cancer Diagnostics Market Reviews 2031 | TMR Study
According to a Transparency Market Research (TMR) research report, the global cancer diagnostics Market is likely to expand at a CAGR of 7.4% during the forecast period, 2022 to 2031. This suggests that the market is expected to reach US$ 335.7 Bn by the end of 2031.
The study on the cancer diagnostics Market adopts rigorous and systematic research approaches to understand the growth dynamic of the market. The authors have…
LED Work Light Market 2029 | TMR Research
LED Work Light Market: Overview
The LED work light market may gain good momentum in terms of growth across the forecast period of 2019-2029 due to the growing demand from residential segments and the overwhelming benefits it provides. These high-intensity light fixtures are mainly used by technicians to assist them in their work temporarily. The use of LED work lights is increasing among many end-users due to benefits like longevity, durability,…
Dissolved Gas Analyzer Market 2025 | TMR Research
Global Dissolved Gas Analyzer Market: Overview
The high electrical and thermal stress leads to decomposition of mineral oils used inside a power transformer. This in turn leads to generation of hydrogen (H2), carbon di-oxide (CO2), carbon mono-oxide (CO), methane (CH4), ethylene (C2H4), and acetylene (C2H2) among others. The formation of these gases depends upon the faults in the transformer.
To evaluate the nature of the gases and their potential threats, dissolved gas…
Tumblers Market 2028 | TMR Research
The tumblers market is expected to set growth straight with rising demand for new attractive designs for liquors including alcoholic, and non-alcoholic in emerging region of Asia pacific. The rising disposable income, increasing access to quality products, and new product launches customised to suit the taste of the region promise major growth for the tumblers market in near future.
Download Brochure of This Market Report at - https://www.tmrresearch.com/sample/sample?flag=B&rep_id=6200
Among regions, North America,…
Hyperloop Train Market 2025 | TMR Research
Global Hyperloop Train Market: Snapshot
The global market for hyperloop train is likely to exhibit high-speed expansion in the next few years. The demand for cheap and quick modes of transport that incur low base-costs and are built on easier-to-construct infrastructure, are immune to natural calamities such as earthquakes are the key factors expected to work in favor of the global hyperloop train market.
Request Sample Copy of the Report @ https://www.tmrresearch.com/sample/sample?flag=B&rep_id=2000
The…
Crowdsourced Security Market 2018 - 2028 | TMR Research
Crowdsourced Security Market: Overview
The global crowdsourced security market is expected develop at a healthy pace in the coming years of the forecast period of 2018 to 2028. The mobile phone application segment of the crowdsourced security market is expected to develop at a rapid pace in these coming years. The rate of adoption of these mobile application is growing at a great pace and is thus helping the market to…
