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Recent research: Augmented reality and virtual market is anticipated to hit $1.4 billion by 2023 at a CAGR of 18.02%

IT Market Research

According to the new market research report by IndustryARC titled “Augmented Reality and Virtual Reality in Healthcare Market: By Type (Augmented & Virtual Reality); By End User (Surgical & Rehabilitation, Training, 3D Operation Room Simulations, Simulations, Diagnostics, Virtual Reality Exposure Therapy) - By Geography – With Forecast (2018- 2023)”, the market is influenced by the large demands from emerging economies such as India and China, due to increasing investments in these countries.

Americas held the largest market share in Augmented and Virtual Reality Robotic Surgery Market

Americas held the largest market share in the Augmented Reality and Virtual Reality Robotic Surgery Market, and is anticipated to reach $230.3 million by 2023 at a CAGR of 38.5%. However, the APAC region will witness the highest growth during the forecast period, and is anticipated to reach $93.17 million at a CAGR of 43.9%.

The demand for Augmented and Virtual Reality Market mainly derives from the higher cost of devices in the region, compared to Asian Countries. Favorable funding and easy access of products due to the presence of local companies are other factors responsible for the growth of this segment in this region.

The key end-users in the region include Augmented Reality and Virtual Reality.

Selected Opportunities Analysis

Virtual Reality – Opportunity Analysis

The market for virtual reality based applications is extensive in terms of its application which includes sectors like gaming, healthcare and education and training.

Virtual reality based products like full scale immersive 3D as diagnostic tools for doctors and nurses during surgery, have high growth opportunities in the healthcare industry.

Products like the Oculus Rift, popular amongst video gamers, brought in a twist with its application potential in the healthcare industry, thus indicating opportunity for the growth of virtual reality based product market.

Augmented Reality – Opportunity Analysis

Due to fast technological developments in the augmented reality based products, the healthcare industry will be able to explore opportunities in the augmented reality based product market. The growth opportunity for augmented reality in healthcare is in surgical applications, training and continuous medical education and rehabilitation.

In surgical applications, augmented reality can be used to perform surgeries like endoscopy and digestive surgery with the help of robots. Subjected to training and continuous medical development, augmented reality can be used to train the nurses.

In rehabilitation, augmented reality can be used to treat trauma and phobia patients.

The opportunity for smart glasses based on augmented reality is tremendous in the coming years.

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Excerpts on Market Growth Factors

The global AR and VR in the healthcare market displays ample potential for growth. It is propelled by increasing healthcare costs, technological advancements, increasing demand for minimally invasive treatments, rising focus on patient safety, and increasing consolidation of the manufacturers.

The expansion and growth of the market depends upon the creation of new applications which will be able to meet the application perspective demand from the end user.

Growing interest in improving and sustaining interaction and engagement across the healthcare sector using gaming technology, also propels the market for serious games.

Increase in stroke cases would lead to the growth of augmented reality rehabilitation market in the forecast period.

The global simulated clinical environment market is poised to grow at a CAGR of 16.5% in the forecast period to reach $312.3 million by 2018.

Key players of Augmented and Virtual Reality Market:

Key players in the medical simulation market have adopted various strategies to expand their global footprint and augment their market share. The key strategies employed by companies such as Laerdal Medical (Norway), Medical Simulation Corporation (U.S.), Simbionix USA Corporation (U.S.), Surgical Science Sweden AB (Sweden), CAE Healthcare, Inc.

(Canada), HealthStream, Inc. (U.S.) and Education Management Solutions, Inc. (U.S.), are in the form of new product launches, agreements, partnerships, collaborations, contracts, joint ventures, expansion, and mergers and acquisitions.

The key players involved in these strategies are Simbionix USA Corporation (U.S.), Surgical Science Sweden AB (Sweden), Laerdal medical AS/SimVentures (Norway), Gaumard Scientific Company, Inc. (U.S.), CAE Healthcare, Inc. (Canada), and Mentice AB (Sweden).

Augmented and Virtual Reality Market Report is segmented as indicated below

Augmented and Virtual Reality Market By Component:

Augmented and Virtual Reality Market By Hardware Component:

3D Camera

Sensors

Accelerometer

Gyroscope

Magnetometer

Global Positioning Systems

Proximity Sensor

Semiconductor Component

Controller/ Processor

Integrated Circuits

Displays

Augmented and Virtual Reality Market By Software Component

Software Development Kits

Cloud Based Services

Augmented and Virtual Reality Market for Entertainment Industry, by Technology

Augmented Reality Technology

Marker Based Augmented Reality

Passive Marker

Active Marker

Markerless Augmented Reality

Model-Based Tracking

Image Processing-Based

Virtual Reality Technology

Non-Immersive Technology

Semi-Immersive & Fully-Immersive Technologies

Augmented & Virtual Reality Market for Entertainment Industry, By Device

Augmented Reality Devices

Head-Mounted Displays

Head-Up Display (HUD)

Handheld Device

Virtual Reality Devices

Head-Mounted Displays (HMD)

Gesture Control Device

Data Gloves

Others

Projector & Display Wall

Augmented and Virtual Reality Market for Entertainment Industry, By Application

Gaming

Sports & Entertainment

Museum

Theme Parks

Art Gallery & Exhibitions

Consumer Vertical Overall Review

Augmented and Virtual Reality Market– By Geography (Covers 15+ Countries)

Augmented and Virtual Reality Market By Entropy

Companies Cited/Referenced/Interviewed:

3B Scientific GMBH

Biodigital Systems LLC

Ingmar Medical Ltd

Promodel Corporation

Anesoft Corporation

B-Line Medical, LLC

Kyoto Kagaku Co, Ltd

Simulab Corporation

Anomalous Medical

Immersion Corporation

Limbs & Things Ltd

Simulaids Inc

Company 13

Company 14

Company 15+

What can you expect from the report?

The Augmented Reality and Virtual Reality Market Report is Prepared with the Main Agenda to Cover the following 20 points:

Market Size by Product Categories

Market trends

Manufacturer Landscape

Distributor Landscape

Pricing Analysis

Top 10 End user Analysis

Product Benchmarking

Product Developments

Mergers & Acquisition Analysis

Patent Analysis

Demand Analysis (By Revenue & Volume)

Country level Analysis (15+)

Competitor Analysis

Market Shares Analysis

Value Chain Analysis

Supply Chain Analysis

Strategic Analysis

Current & Future Market Landscape Analysis

Opportunity Analysis

Revenue and Volume Analysis

FAQ:

Does IndustryARC publish country, geography or application based reports in Augmented Reality and Virtual Reality Market?

Yes, we do have separate reports as mentioned below:

Europe Market for Millet and Augmented Reality and Virtual Reality (2018-2023)

Asia-Pacific Market for Augmented Reality and Virtual Reality (2018-2023)

Americas Market for Augmented Reality and Virtual Reality (2018-2023)

RoW Market for Augmented Reality and Virtual Reality (2018-2023)

3D Camera Market for Augmented Reality and Virtual Reality (2018-2023)

Hardware Components Market for Augmented Reality and Virtual Reality (2018-2023)

Software Components Market for Augmented Reality and Virtual Reality (2018-2023)

Gaming Market for Augmented Reality and Virtual Reality (2018-2023)

Sports & Entertainment Market for Augmented Reality and Virtual Reality (2018-2023)

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