Augmented reality is a technology that uses the existing user’s environment and overlays the digital or virtual content or information over it.
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Augmented reality applications are developed on special 3D programs that enable developers to integrate contextual or digital content with the real world. While virtual reality is also a three-dimensional (3D)-computer generated environment-which completely immerses end users in an artificial world without seeing the real world.
This report includes, the revenue generation from the sale of augmented and virtual reality enabled hardware and content.
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The augmented and virtual reality market is segmented on the basis of platform, application, and geography.
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Based on the platform, the augmented and virtual reality market is segmented into mobile, console and personal computer (PC). Among platforms, the console segment contributed maximum market share in 2015, owing to the increase in penetration of gaming consoles especially, among the young population worldwide.
By application, the augmented and virtual reality market is segmented into videogames, live events and video entertainment, military, healthcare, and others (retail, real estate, education, and engineering). Among applications, video games segment dominated the market in 2015 due to growing popularity and increased spending on augmented and virtual reality based video games globally.
Geographically, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Among regions, the market in Asia-Pacific region is projected to grow at the highest CAGR of 67.5% during the forecast period owing to the high mobile device and gaming consoles’ penetration in the region.
The prominent companies operating in the global augmented and virtual reality industry inclined towards adopting product launch, partnership, geographical expansion and acquisition as their major strategies for business growth and expansion globally. Key players identified in the augmented and virtual reality industry include Google Inc., Intel Corporation, Magic Leap, Inc., Marxent Labs LLC, Microsoft Corporation, NVIDIA Corporation, Oculus VR, LLC, Qualcomm Inc., Samsung Electronics Co., Ltd., and Vuzix Corporation.
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- The study provides an in-depth analysis of the augmented and virtual reality market along with current and future trends to elucidate the imminent investment pockets.
- Information regarding key drivers, restraints, and opportunities along with their impact analysis on the augmented and virtual reality market is provided.
- Porter’s Five Forces analysis illustrates the potency of buyers and suppliers participating in the market.
- The quantitative analysis of the market from 2014 to 2022 is provided to elaborate the market potential.
Augmented and Virtual Reality Market Key Segments:
The augmented and virtual reality market is segmented based on platform, application, and geography.
- PC (Personal computer)
- Live events and video entertainment
- Others (retail, real estate, education, and engineering)
- North America
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