Augmented Reality and Virtual Reality Market to Witness Growth Acceleration During 2021

The global augmented reality & virtual reality market is expected to grow at a substantial growth rate especially in training and infotainment market. Heavy penetration is the wide spectrum of application areas for these technologies. Virtual reality application in healthcare shows a tremendous growth and driving the market for augmented reality & virtual reality. It is a field of computer research which deals with the combination of real-world and computer generated data. Augmented reality consists of various benefits which includes interactive in real time, also data can be generated in real-time. Augmented reality has various applications which include video games (physical interaction with 3D models), presentations, television, theme park, and simulations (driving, flying etc.).

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The report contains the global scenario of augmented reality & virtual reality market discussing detailed overview and market figures. The research report analyses the industry growth rate, industry capacity, and industry structure. The report analyses the historical data and forecasts the augmented reality & virtual reality market size, production forecasts along with key factors driving and restraining the market growth.

The global augmented reality & virtual reality market is segmented into two major categories, on the basis of technology into augmented and virtual reality technologies, on the basis of sensors and components into sensors, semiconductor components, augmented reality sensors and components, virtual reality sensors and components. The market is also segmented by application into E-commerce, gaming, medical, education, military and other industrial applications. The market is further segmented by geography into North America, Asia Pacific, Europe and rest of the world regions. Among these regional markets, Asia Pacific registered the fastest growth rate during the forecast period from 2013 to 2019.

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The global augmented reality & virtual reality market is driven by factors such as the increasing demand in healthcare, boosting demand for smartphones. Rising Prevalence of Computer Technology and Internet Connectivity will also act as drivers for the global augmented reality & virtual reality market.

Some of the factors inhibiting the growth of the global augmented reality & virtual reality market are privacy and awareness, image latency. Requirement of hardware is also restraining the growth of the global augmented reality & virtual reality market. Programming physics, costs, under development and graphics are also other factors restraining the growth of the global augmented reality & virtual reality market. The emerging applications and increase in R&D initiatives will serve as an opportunity, fuelling the growth of the global augmented reality & virtual reality market.

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Some of the key players dominating the market are Blippar, Catchoom, Innovega Inc., Laster Technologies, Metaio Gmbh, Total Immersion, Vertalis Ltd, Augmented Pixels Co., Kooaba AG, Kishino Limited, Qualcomm Incorporated, Wikitude Gmbh and others. Earlier the global augmented reality & virtual reality market was dominated by players with relatively low brand image. However, after the entrance of new big players in the industry, the demand for augmented reality & virtual reality has increased among the consumers.

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