Study papers on Augmented Reality and Virtual Reality market and regional forecast. Augmented Reality and Virtual Reality market players are Sony (Japan), Oculus (US), Samsung (South Korea), Google (US), HTC (Taiwan), PTC (US), Microsoft (US), Wikitude (Austria), DAQRI (US), Zugara, (US), Blippar (UK), Osterhout Design Group (US), Magic Leap (US), Upskill (US), Continental (Germany), Visteon (US), Eon Reality (US), and Vuzix (US).
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augmented reality market was valued at USD 11.14 billion in 2018 and is expected to reach USD 60.55 billion by 2023, growing at a CAGR of 40.29% during the forecast period. The increasing demand for AR devices in healthcare, growing demand for AR in retail and e-commerce, and rising investment in the augmented reality market are the major drivers for the augmented reality market.
The limited user interface (UI) affecting the navigation performance of AR applications, limited processing power, less storage, and restricted size of the memory card in mobile phones, and varied infrastructure quality of digital network will restrain the growth of AR. The virtual reality market was valued at USD 7.90 billion in 2018 and is expected to reach USD 34.08 billion by 2023, growing at a CAGR of 33.95% during the forecast period.
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- Raw Material and Manufacturing Equipment Suppliers
- Semiconductor Foundries
- Original Equipment Manufacturers (OEMs) (End-User Applications or Electronic Product Manufacturers)
- Product Manufacturers
- Original Design Manufacturers (ODMs) and OEM Technology Solution Providers
- Research Organizations
- Technology Standard Organizations, Forums, Alliances, and Associations
- Technology Investors
- Governments, Financial Institutions, and Investment Communities
- Analysts and Strategic Business Planners
- End Users
Virtual reality technology is used mainly for consumer applications such as gaming and entertainment. Virtual reality is used in various gaming types such as PC gaming, gaming consoles, Internet games, smart phones, and tablets.
In all these game types, virtual reality is used to enhance a user’s gaming experience.
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The use of HMDs in the enterprises for instructions and training purposes is likely to boost the growth of HMDs in the AR market. AR smart glasses are expected to be mainly used HMDs in the augmented reality market.
The major applications for VR HMDs have been gaming and entertainment, and are expected to dominate the market during the forecast period. The head-mounted devices from companies such as Sony, Oculus, HTC, Samsung, Google, TLC Alcatel, and Osterhout Design Group are already in use and have received an overwhelming response from the users.
Augmented reality is used in enterprises for training personnel, providing information about the industrial facility, remodeling and redesigning, and industrial simulations. The enterprise applications would witness a high growth for HMDs in the near future.
The use of HMDs in the manufacturing setups is the major driver for the growth of enterprise application in the augmented reality market.
2 Competitive Scenario
2.1 Product Launches & Developments
2.3 Agreements, Collaborations, and Capital Funding
2.4 Acquisitions and Expansions
This research categorizes the augmented reality and virtual reality market on the basis of technology, device type, offering (hardware& software), application, and geography. The report also discusses major drivers, restraints, challenges, and opportunities for the market.
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