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Discover the augmented & virtual reality market expected to reach USD 170.84 billion by 2023 end

IT Market Research

Augmented & Virtual Reality Market by Technology (Augmented Reality, Virtual Reality), by Component (Augmented Reality, Virtual Reality) and by Device (Augmented Reality, Virtual Reality).

Global Augmented & Virtual Reality Market Make an Inquiry about this news was valued at USD 12.36 Billion in the year 2017. Global Augmented & Virtual Reality Market is further estimated to grow at a CAGR of 54.91% from 2018 to reach USD 170.84 Billion by the year 2023.

North America region holds the highest market share in 2017 whereas Asia Pacific region is considered as the fastest growing market in the forecasted period. At the country level, U.S. was the biggest market in 2017 and it is projected to grow at a steady pace in the coming years.

Alphabet (Google) Inc. (U.S), Apple Inc. (U.S), Microsoft Corporation (U.S) are some of the major players in the Augmented & Virtual Reality Market.

Rising research and development costs for product innovations to address varying demand of the end users are driving this market. Similarly, organic growth strategies adopted by most of Tier 1 and Tier 2 companies in last few years is also gaining popularity.

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Drivers:

Growing use of AR/VR in the healthcare industry

Restraints:

Losing experience to actual reality

Opportunities:

Rising Investments in AR/VR industry

Challenges:

AR and VR creating a cyber threat

The Software Components holds the highest market share with highest CAGR during the forecast period 2016- 2022. On the other hand, Head Mounted Display for Augmented and Virtual Reality is expected to grow at the highest CAGR of XXX during year 2017-2022.

As Head Mounted Display has large application and it is widely used in medical, e-commerce and other vertical.

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Key Benefits for Stakeholders

Augmented & Virtual Reality Manufacturers, Distributors and Retailers

Research and Consulting organization

Technology Standards Organizations, Forums, Alliances and Associations

End-use industries

Regulatory bodies, policy actors, and consumers.

By Technology

     Augmented Reality Technology:

-Marker-Based Augmented Reality          

-Markerless Augmented Reality

     Virtual Reality Technology:    

-Semi-Immersive & Fully-Immersive Technologies

-Non-Immersive Technology

By Component

     Augmented Reality:

-Augmented Reality Hardware Component           

-Augmented Reality Software Component

     Virtual Reality:

-Virtual Reality Hardware Component

-Virtual Reality Software Component

By Device

     Augmented Reality Devices:

-Head Mounted Display

-Handheld Device

-Head up Display

     Virtual Reality Devices:         

-Projector & Display Wall

-Head Mounted Display (HMD)

-Gesture Control Device

By Application

     Augmented Reality Applications:

-Aerospace & Defense

-Consumer       

-Commercial

-Medical Verticals

-Others

     Virtual Reality Applications:

-Commercial     

-Consumer                   

-Medical

-Industrial

By Region

North America

Europe

Asia-Pacific

ROW

Key Market Players

Microsoft Corporation (U.S.)

Samsung Electronics Co., Ltd. (South Korea)

Qualcomm Inc. (U.S.)

Alphabet (Google), Inc. (U.S.)

Apple Inc. (U.S.)

NVIDIA Corporation (U.S.)

Oculus VR, LLC (U.S.)

Flex VR Ltd.

Vuzix Corporation (U.S.)

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News From

Genesis Market InsightsGenesis Market Insights
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