Augmented and Virtual Reality Market Overview:
Global Augmented and Virtual Reality Market is projected to reach $59,511 million by 2022, with a CAGR of 65.7% from 2016 to 2022. Augmented reality is a technology that uses the existing users environment and overlays the digital or virtual content or information over it. 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 a computer-generated 3D environment - which completely immerses end users in an artificial world without seeing the real world.
Factors such as increased popularity of augmented and virtual reality technology in various industries; cost-efficient benefits of augmented and virtual reality technology based solutions; and rise in a number of gaming population are projected to drive the market growth. However, lack of infrastructure and investment in research & development activities are anticipated to hinder the market growth.
The report includes the study of the augmented and virtual reality market focusing on various growth prospects and restraints, based on the regional analysis. The study highlights Porters Five Forces analysis for the market that comprises the impact of suppliers, competitors, new entrants, substitutes, and buyers.
Key manufacturers-operating 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.
The augmented and virtual reality market is classified into platforms (mobile, console and personal computer (PC)) and application (videogames, live events and video entertainment, military, healthcare, and others (retail, real estate, education, and engineering)).
Augmented and Virtual Reality Market Segmentation
Top Investment Pockets
The below mentioned figure signifies the growth potential of the augmented and virtual reality market based on the applications of augmented and virtual reality devices and content such as videogames, live events and video entertainment, military, healthcare, and other (retail, real estate, education, and engineering). Among applications, the healthcare segment is projected to grow at the highest CAGR, owing to growing popularity and adoption of augmented and virtual reality technology based solutions amongst healthcare professionals and organizations for training, surgery, and treatment. Further, this technology allows healthcare professionals to learn new skills and refresh the existing ones easily in a safe environment.
Key Investment Pockets
- Advancement in Technology
Augmented and virtual reality technologies can be used for collaborative seminars, meetings, public lectures, flight training, military training, training for nurses and medical professionals, and self-learning process. Further, to introduce enhanced products or solutions key players are anticipated to emphasize on product innovation through continuous investment in product development.
- Introduction Of Industry-Specific Solutions
Augmented and virtual reality solutions find high usage in various industries such as civil aviation, defense & security, healthcare, digital manufacturing, education, and entertainment. However, prominent players operating in the augmented and virtual reality market are projected to concentrate on the introduction of industry-specific solutions to expand their presence across various industries such as mining, oil and gas, and transportation.
- The study provides an in-depth analysis of the augmented & 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 & virtual reality market is provided.
- Porters 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
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East
Key Market Players Profiled in the Report
- Google Inc.
- Intel Corporation
- Magic Leap, Inc.
- Marxent Labs LLC
- Microsoft Corporation
- NVIDIA Corporation
- Oculus VR, LLC
- Qualcomm Inc.
- Samsung Electronics Co., Ltd.
- Vuzix Corporation