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Augmented Reality and Virtual Reality Market Research Report 2022 – Global Forecast till 2025

Augmented Reality and Virtual Reality Market

By tanmayb4733Published 2 years ago 4 min read
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Future Market Insights has recently published a report on “Augmented Reality and Virtual Reality Market – Global Industry Analysis & Forecast, 2017-2025”. The global augmented reality and virtual reality market was valued at US$ 5,176 Mn in 2016 and is expected to register a CAGR of 42.2% between 2017 and 2025. Technology companies, especially, the gaming companies are focusing on increasing investments and are driving the growth of the global Augmented Reality and Virtual Reality market.

Virtual Reality creates a digital environment that replaces the user’s real-world environment. Virtual Reality is primarily used in gaming and entertainment applications. Augmented Reality overlays digitally-created content into a user’s real-world environment. For instance, Augmented Reality can be used to project sales and inventory data onto products on store shelves.

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In recent times, Augmented Reality and Virtual Reality market coming together to impact businesses and enterprises. Most of the businesses, nowadays, have transformed into digital Augmented Reality and Virtual reality, customers find it convenient to use digitized products. Reciprocating to this rise in digitalization and more customers getting engaged in online activities, retailers are looking for ways to leverage their digital presence.

Global Augmented Reality and Virtual Reality Market: Overview, Analysis, & Forecast

The global augmented reality and virtual reality market is segmented by device type, technology, end user, application and component. The component segment has been further categorized into hardware, software and services. The hardware segment has been categorized into these sub-segments: display, processor, sensors, user interface ICs, power management ICs and others. The Sensors sub-segment is anticipated to register a CAGR of 50% during the forecast period.

On the basis of technology, the global augmented reality and virtual reality market has been segmented into augmented reality and virtual reality. The virtual reality segment registered highest market share and was valued at US$ 3,498 Mn in 2016 globally. Further, the adoption rate of AR & VR in gaming is increasing rapidly and is responsible for the growth of the segment in the overall market. However, the virtual reality segment is expected to register a stable CAGR of 40.5% during the forecast period.

On the basis of devices, the global augmented reality and virtual reality segmented into head mounted display, handheld devices, head-up display, smartglasses and others. The head mounted display segment accounted for a CAGR of 44% during the forecast period. Head mounted display segment also accounted for highest market share in 2016 and was valued at US$ 4,156 Mn in 2016 in the overall devices segment.

On the basis of end-user, the global augmented reality and virtual reality market is segmented into consumer and commercial. The commercial segment accounted for a CAGR of 46% during the forecast period. In 2016, the consumer segment accounted for the highest market share and represented a valuation of US$ 3,099 Mn.

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On the basis of application, the global augmented reality and virtual reality market is segmented into gaming, media & entertainment, real estate, retail, education, engineering, healthcare and others. The gaming segment accounted for a CAGR of 45% during the forecast period. Gaming segment held the largest market share in 2016 and was valued at US$ 1,997 Mn in 2016.

Key Segments Covered in the Augmented Reality and Virtual Reality Market are :

By Technology Type

Augmented Reality

Virtual Reality

By End-user Type

Commercial

Consumer

By application

Gaming

Media & Entertainment

Real Estate

Education

Retail

Healthcare

Engineering

Others

By Device

Head Mounted Display

Handheld Devices

Head-up display

Smartglasses

Others

By Component

Hardware

Display

Processor

Sensors

User interface ICs

Power Management ICs

Others

Software

Services

Key Regions covered:

North America Augmented Reality and Virtual Reality Market

U.S.

Canada

Latin America Augmented Reality and Virtual Reality Market

Mexico

Brazil

Rest of Latin America

APAC Augmented Reality and Virtual Reality Market

China

India

ASEAN

Australia & New Zealand

Rest of APAC

Europe Augmented Reality and Virtual Reality Market

Germany

France

U.K.

Spain

Italy

Nordic

Benelux

Russia

Poland

Rest of Europe

Middle East & Africa Augmented Reality and Virtual Reality Market

North Africa

South Africa

GCC

Rest of Africa

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The report also covers trends driving each segment and offers analysis and insights regarding the potential of Augmented Reality and Virtual Reality market in regions including North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. Among these regions, North America accounted for the largest market share in 2016 owing to the increasing adoption of AR & VR in gaming in countries, such as the U.S. and Canada. Countries, such as GCC, China and Japan, in Asia Pacific region offer greater potential, which will drive the growth of the global augmented reality and virtual reality market in the region. MEA and Asia pacific region is expected to register healthy CAGR during the forecast period.

Key competitors in the Augmented Reality and Virtual Reality market are Vuzix Corporation, Samsung Electronics Co. Ltd, Microsoft Corporation, Google Inc., EON Reality Inc., Oculus VR, LLC, Magic Leap, Inc., DAQRI LLC, Blippar.Com Limited and Osterhout Design Group, Inc. (ODG).

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United Arab Emirates

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Website: https://www.futuremarketinsights.com

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