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Augmented and Virtual Reality Market by Platform (Mobile, Console and PC) and Application (Videogames, Live Events and Video Entertainment, Military and Healthcare) - Global Opportunity and Forecast, 2014-2022

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Pages: 172
Apr 2017 | 3842 Views
 
Author's : Sumeet Pal
Tables: 53
Charts: 68
 

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.

Segment Overview

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

Augmented and Virtual Reality Market Segmentation

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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

Augmented and Virtual Reality Market Key Investment Pockets

 

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Opportunities

  • 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.

Key Benefits

  • 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.

By Platform

  • Mobile
  • Console
  • PC (Personal computer)

By Application

  • Videogames
  • Live events and video entertainment
  • Military
  • Healthcare
  • Others (retail, real estate, education, and engineering)

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

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
 

Chapter: 1 INTRODUCTION

1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY

1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models

Chapter: 2 EXECUTIVE SUMMARY

2.1. CXO PERSPECTIVE

Chapter: 3 MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS

3.2.1. Top investment pockets

3.3. PORTERS FIVE FORCES ANALYSIS

3.3.1. Moderate bargaining power of suppliers
3.3.2. Moderate threat of new entrants
3.3.3. Moderate threat of substitutes
3.3.4. High competitive rivalry
3.3.5. High bargaining power among buyers

3.4. MARKET DYNAMICS

3.4.1. Drivers

3.4.1.1. Expansion in gamer community
3.4.1.2. Increase in popularity of augmented and virtual reality
3.4.1.3. Cost-efficient benefits of augmented and virtual reality based solutions

3.4.2. Restraints

3.4.2.1. Resistance to adopt the augmented and virtual reality technology
3.4.2.2. Lack of investments in R&D

3.4.3. Opportunities

3.4.3.1. Advancement in technology
3.4.3.2. Introduction of industry-specific solutions

Chapter: 4 AUGMENTED & VIRTUAL REALITY MARKET, BY PLATFORM

4.1. OVERVIEW
4.2. MOBILE

4.2.1. Key market trends
4.2.2. Key growth factors and opportunities
4.2.3. Market size and forecast

4.3. CONSOLE

4.3.1. Key market trends
4.3.2. Key growth factors and opportunities
4.3.3. Market size and forecast

4.4. PERSONAL COMPUTER (PC)

4.4.1. Key market trends
4.4.2. Key growth factors and opportunities
4.4.3. Market size and forecast

Chapter: 5 AUGMENTED & VIRTUAL REALITY MARKET, BY APPLICATION

5.1. OVERVIEW
5.2. VIDEO GAMES

5.2.1. Key market trends
5.2.2. Key growth factors and opportunities
5.2.3. Market size and forecast

5.3. LIVE EVENTS AND VIDEO ENTERTAINMENT

5.3.1. Key market trends
5.3.2. Key growth factors and opportunities
5.3.3. Market size and forecast

5.4. MILITARY

5.4.1. Key market trends
5.4.2. Key growth factors and opportunities
5.4.3. Market size and forecast

5.5. HEALTHCARE

5.5.1. Key market trends
5.5.2. Key growth factors and opportunities
5.5.3. Market size and forecast

5.6. OTHERS

5.6.1. Key market trends
5.6.2. Key growth factors and opportunities
5.6.3. Market size and forecast

Chapter: 6 AUGMENTED & VIRTUAL REALITY MARKET, BY REGION

6.1. OVERVIEW
6.2. NORTH AMERICA

6.2.1. Key market trends
6.2.2. Key growth factors and opportunities
6.2.3. Market size and forecast

6.2.3.1. U.S.

6.2.3.1.1. Market size and forecast

6.2.3.2. Canada

6.2.3.2.1. Market size and forecast

6.2.3.3. Mexico

6.2.3.3.1. Market size and forecast

6.3. EUROPE

6.3.1. Key market trends
6.3.2. Key growth factors and opportunities
6.3.3. Market size and forecast

6.3.3.1. Germany

6.3.3.1.1. Market size and forecast

6.3.3.2. U.K.

6.3.3.2.1. Market size and forecast

6.3.3.3. France

6.3.3.3.1. Market size and forecast

6.3.3.4. Spain

6.3.3.4.1. Market size and forecast

6.3.3.5. Russia

6.3.3.5.1. Market size and forecast

6.3.3.6. Rest of Europe

6.3.3.6.1. Market size and forecast

6.4. ASIA-PACIFIC

6.4.1. Key market trends
6.4.2. Key growth factors and opportunities
6.4.3. Market size and forecast

6.4.3.1. China

6.4.3.1.1. Market size and forecast

6.4.3.2. Japan

6.4.3.2.1. Market size and forecast

6.4.3.3. South Korea

6.4.3.3.1. Market size and forecast

6.4.3.4. Rest of Asia-Pacific

6.4.3.4.1. Market size and forecast

6.5. LAMEA

6.5.1. Key market trends
6.5.2. Key growth factors and opportunities
6.5.3. Market size and forecast

6.5.3.1. Latin America

6.5.3.1.1. Market size and forecast

6.5.3.2. Middle East

6.5.3.2.1. Market size and forecast

6.5.3.3. Africa

6.5.3.3.1. Market size and forecast

Chapter: 7 COMPANY PROFILES

7.1. ALPHABET INC. (GOOGLE INC.)

7.1.1. Company overview
7.1.2. Company snapshot
7.1.3. Operating business segments
7.1.4. Product portfolio
7.1.5. Business performance
7.1.6. Key strategic moves & developments, 2014-2016

7.2. FACEBOOK INC.(OCULUS VR, LLC)

7.2.1. Company overview
7.2.2. Company snapshot
7.2.3. Operating business segments
7.2.4. Product portfolio
7.2.5. Business performance
7.2.6. Key strategic moves & developments, 2014-2016

7.3. INTEL CORPORATION

7.3.1. Company overview
7.3.2. Company snapshot
7.3.3. Operating business segments
7.3.4. Product portfolio
7.3.5. Business performance
7.3.6. Key strategic moves & developments, 2014-2016

7.4. MAGIC LEAP, INC.

7.4.1. Company overview
7.4.2. Company snapshot
7.4.3. Operating business segments
7.4.4. Product portfolio

7.5. MARXENT LABS LLC

7.5.1. Company overview
7.5.2. Company snapshot
7.5.3. Operating business segments
7.5.4. Product portfolio
7.5.5. Key strategic moves & developments, 2014-2016

7.6. MICROSOFT CORPORATION

7.6.1. Company overview
7.6.2. Company snapshot
7.6.3. Operating business segments
7.6.4. Product portfolio
7.6.5. Business performance
7.6.6. Key strategic moves & developments, 2014-2016

7.7. NVIDIA CORPORATION

7.7.1. Company overview
7.7.2. Company snapshot
7.7.3. Operating business segments
7.7.4. Product portfolio
7.7.5. Business performance
7.7.6. Key strategic moves and developments

7.8. QUALCOMM INCORPORATED

7.8.1. Company overview
7.8.2. Company snapshot
7.8.3. Operating business segments
7.8.4. Product portfolio
7.8.5. Business performance
7.8.6. Key strategic moves & developments, 2014-2016

7.9. SAMSUNG ELECTRONICS CO., LTD.

7.9.1. Company overview
7.9.2. Company snapshot
7.9.3. Operating business segments
7.9.4. Product portfolio
7.9.5. Business performance
7.9.6. Key strategic moves & developments, 2014-2016

7.10. VUZIX CORPORATION

7.10.1. Company overview
7.10.2. Company snapshot
7.10.3. Operating business segments
7.10.4. Product portfolio
7.10.5. Business performance
7.10.6. Key strategic moves & developments, 2014-2016

LIST OF TABLES

TABLE 1. AUGMENTED & VIRTUAL REALITY MARKET, BY PLATFORM, 2014-2022 ($MILLION)
TABLE 2. AUGMENTED & VITRUAL REALITY MARKET FOR MOBILE SEGMENT, BY REGION, 2014-2022 ($MILLION)
TABLE 3. AUGMENTED & VIRTUAL REALITY MARKET FOR CONSOLE SEGMENT, BY REGION, 2014-2022 ($MILLION)
TABLE 4. AUGMENTED & VIRTUAL REALITY MARKET FOR PC SEGMENT, BY REGION, 2014-2022 ($MILLION)
TABLE 5. AUGMENTED & VIRTUAL REALITY MARKET, BY APPLICATION, 2014-2022 ($MILLION)
TABLE 6. AUGMENTED & VIRTUAL REALITY MARKET FOR VIDEOGAMES SEGMENT, BY REGION, 2014-2022 ($MILLION)
TABLE 7. AUGMENTED & VIRTUAL REALITY MARKET FOR LIVE EVENTS AND VIDEO ENTERTAINMENT SEGMENT, BY REGION, 2014-2022 ($MILLION)
TABLE 8. AUGMENTED & VIRTUAL REALITY MARKET FOR MILITARY SEGMENT, BY REGION, 2014-2022 ($MILLION)
TABLE 9. AUGMENTED & VIRTUAL REALITY MARKET FOR HEALTHCARE SEGMENT, BY REGION, 2014-2022 ($MILLION)
TABLE 10. AUGMENTED & VIRTUAL REALITY MARKET FOR OTHERS SEGMENT, BY REGION, 2014-2022 ($MILLION)
TABLE 11. AUGMENTED & VIRTUAL REALITY MARKET, BY REGION, 2014-2022 ($MILLION)
TABLE 12. NORTH AMERICA AUGMENTED & VIRTUAL REALITY MARKET, BY PLATFORM, 2014-2022 ($MILLION)
TABLE 13. NORTH AMERICA AUGMENTED & VIRTUAL REALITY MARKET, BY APPLICATION, 2014-2022 ($MILLION)
TABLE 14. NORTH AMERICA AUGMENTED & VIRTUAL REALITY MARKET, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 15. EUROPE AUGMENTED & VIRTUAL REALITY MARKET, BY PLATFORM, 2014-2022 ($MILLION)
TABLE 16. EUROPE AUGMENTED & VIRTUAL REALITY MARKET, BY APPLICATION, 2014-2022 ($MILLION)
TABLE 17. EUROPE AUGMENTED & VIRTUAL REALITY MARKET, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 18. ASIA-PACIFIC AUGMENTED & VIRTUAL REALITY MARKET, BY PLATFORM, 2014-2022 ($MILLION)
TABLE 19. ASIA-PACIFIC AUGMENTED & VIRTUAL REALITY MARKET, BY APPLICATION, 2014-2022 ($MILLION)
TABLE 20. ASIA-PACIFIC AUGMENTED & VIRTUAL REALITY MARKET, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 21. LAMEA AUGMENTED & VIRTUAL REALITY MARKET, BY PLATFORM, 2014-2022 ($MILLION)
TABLE 22. LAMEA AUGMENTED & VIRTUAL REALITY MARKET, BY APPLICATION, 2014-2022 ($MILLION)
TABLE 23. LAMEA AUGMENTED & VIRTUAL REALITY MARKET, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 24. ALPHABET: COMPANY SNAPSHOT
TABLE 25. ALPHABET INC.: OPERATING SEGMENTS
TABLE 26. ALPHABET INC.: PRODUCT PORTFOLIO
TABLE 27. FACEBOOK: COMPANY SNAPSHOT
TABLE 28. FACEBOOK: OPERATING SEGMENTS
TABLE 29. FACEBOOK: PRODUCT PORTFOLIO
TABLE 30. INTEL: COMPANY SNAPSHOT
TABLE 31. INTEL: OPERATING SEGMENTS
TABLE 32. INTEL: PRODUCT PORTFOLIO
TABLE 33. MAGIC LEAP: COMPANY SNAPSHOT
TABLE 34. MAGIC LEAP: OPERATING SEGMENTS
TABLE 35. MAGIC LEAP: PRODUCT PORTFOLIO
TABLE 36. MARXENT LABS: COMPANY SNAPSHOT
TABLE 37. MARXENT LABS: OPERATING SEGMENTS
TABLE 38. MARXENT LABS: PRODUCT PORTFOLIO
TABLE 39. MICROSOFT: COMPANY SNAPSHOT
TABLE 40. ABC: OPERATING SEGMENTS
TABLE 41. MICROSOFT: PRODUCT PORTFOLIO
TABLE 42. NVIDIA: COMPANY SNAPSHOT
TABLE 43. NVIDIA: OPERATING SEGMENTS
TABLE 44. NVIDIA: PRODUCT PORTFOLIO
TABLE 45. QUALCOMM: COMPANY SNAPSHOT
TABLE 46. QUALCOMM: OPERATING SEGMENTS
TABLE 47. QUALCOMM: PRODUCT PORTFOLIO
TABLE 48. SAMSUNG: COMPANY SNAPSHOT
TABLE 49. SAMSUNG: OPERATING SEGMENTS
TABLE 50. SAMSUNG: PRODUCT PORTFOLIO
TABLE 51. VUZIX: COMPANY SNAPSHOT
TABLE 52. VUZIX: OPERATING SEGMENTS
TABLE 53. VUZIX: PRODUCT PORTFOLIO

LIST OF FIGURES

FIGURE 1. GLOBAL AUGMENTED & VIRTUAL REALITY MARKET SEGMENTATION
FIGURE 2. GLOBAL AUGMENTED AND VIRTUAL REALITY MARKET, 2015 & 2022
FIGURE 3. GLOBAL AUGMENTED AND VIRTUAL REALITY MARKET, BY REGION, 2015 & 2022
FIGURE 4. KEY INVESTMENT POCKETS
FIGURE 5. AUGMENTED & VIRTUAL REALITY MARKET, BY PLATFORM
FIGURE 7. AUGMENTED & VIRTUAL REALITY MARKET, BY MOBILE, 2014-2022 ($MILLION)
FIGURE 8. AUGMENTED & VIRTUAL REALITY MARKET, BY CONSOLE, 2014-2022 ($MILLION)
FIGURE 9. AUGMENTED & VIRTUAL REALITY MARKET BY PC, 2014-2022 ($MILLION)
FIGURE 10. AUGMENTED & VIRTUAL REALITY MARKET, BY APPLICATION, 2014-2022 ($ MILLION)
FIGURE 11. AUGMENTED & VIRTUAL REALITY MARKET, BY VIDEOGAMES, 2014-2022 ($MILLION)
FIGURE 12. AUGMENTED & VIRTUAL REALITY MARKET, BY LIVE EVENTS AND VIDEO ENTERTAINMENT, 2014-2022 ($MILLION)
FIGURE 13. AUGMENTED & VIRTUAL REALITY MARKET, BY MILITARY, 2014-2022 ($MILLION)
FIGURE 14. AUGMENTED & VIRTUAL REALITY MARKET, BY HEALTHCARE, 2014-2022 ($MILLION)
FIGURE 15. AUGMENTED & VIRTUAL REALITY MARKET, BY OTHERS, 2014-2022 ($MILLION)
FIGURE 16. AUGMENTED & VIRTUAL REALITY MARKET, BY REGION, 2015(%)
FIGURE 17. NORTH AMERICA AUGMENTED & VIRTUAL REALITY MARKET
FIGURE 18. U.S. AUGMENTED & VIRTUAL REALITY MARKET, 2014-2022 ($MILLION)
FIGURE 19. CANADA AUGMENTED & VIRTUAL REALITY MARKET, 2014-2022 ($MILLION)
FIGURE 20. MEXICO AUGMENTED & VIRTUAL REALITY MARKET, 2014-2022 ($MILLION)
FIGURE 21. EUROPE AUGMENTED & VIRTUAL REALITY MARKET
FIGURE 22. GERMANY AUGMENTED & VIRTUAL REALITY MARKET, 2014-2022 ($MILLION)
FIGURE 23. U.K. AUGMENTED & VIRTUAL REALITY MARKET, 2014-2022 ($MILLION)
FIGURE 24. FRANCE AUGMENTED & VIRTUAL REALITY MARKET, 2014-2022 ($MILLION)
FIGURE 25. SPAIN AUGMENTED & VIRTUAL REALITY MARKET, 2014-2022 ($MILLION)
FIGURE 26. RUSSIA AUGMENTED & VIRTUAL REALITY MARKET, 2014-2022 ($MILLION)
FIGURE 27. REST OF EUROPE AUGMENTED & VIRTUAL REALITY MARKET, 2014-2022 ($MILLION)
FIGURE 28. ASIA-PACIFIC AUGMENTED & VIRTUAL REALITY MARKET
FIGURE 29. CHINA AUGMENTED & VIRTUAL REALITY MARKET, 2014-2022 ($MILLION)
FIGURE 30. JAPAN AUGMENTED & VIRTUAL REALITY MARKET, 2014-2022 ($MILLION)
FIGURE 31. SOUTH KOREA AUGMENTED & VIRTUAL REALITY MARKET, 2014-2022 ($MILLION)
FIGURE 32. REST OF ASIA-PACIFIC AUGMENTED & VIRTUAL REALITY MARKET, 2014-2022 ($MILLION)
FIGURE 33. LAMEA AUGMENTED & VIRTUAL REALITY MARKET
FIGURE 34. LATIN AMERICA AUGMENTED & VIRTUAL REALITY MARKET, 2014-2022 ($MILLION)
FIGURE 35. MIDDLE EAST AUGMENTED & VIRTUAL REALITY MARKET, 2014-2022 ($MILLION)
FIGURE 36. AFRICA AUGMENTED & VIRTUAL REALITY MARKET, 2014-2022 ($MILLION)
FIGURE 37. ALPHABET INC.: REVENUE, 2014-2016 ($MILLION)
FIGURE 38. ALPHABET INC.: REVENUE SHARE BY SEGMENT, 2016 (%)
FIGURE 39. ALPHABET INC.: REVENUE SHARE BY GEOGRAPHY, 2016 (%)
FIGURE 40. ALPHABET INC.: STRATEGY SHARE, 2014-2017 (%)
FIGURE 41. FACEBOOK: REVENUE, 2014-2016 ($MILLION)
FIGURE 42. FACEBOOK: REVENUE SHARE BY SEGMENT, 2016 (%)
FIGURE 43. FACEBOOK: REVENUE SHARE BY GEOGRAPHY, 2016 (%)
FIGURE 44. FACEBOOK: STRATEGY SHARE, 2014-2016 (%)
FIGURE 45. INTEL: REVENUE, 2013-2015 ($MILLION)
FIGURE 46. INTEL: REVENUE SHARE BY SEGMENT, 2015 (%)
FIGURE 47. INTEL: REVENUE SHARE BY GEOGRAPHY, 2015 (%)
FIGURE 48. INTEL: STRATEGY SHARE, 2014-2016 (%)
FIGURE 49. MARXENT LABS: STRATEGY SHARE, 2014-2016 (%)
FIGURE 50. MICROSOFT: REVENUE, 2014-2016 ($MILLION)
FIGURE 51. MICROSOFT: REVENUE SHARE BY SEGMENT, 2016 (%)
FIGURE 52. MICROSOFT: REVENUE SHARE BY GEOGRAPHY, 2016 (%)
FIGURE 53. MICROSOFT: STRATEGY SHARE, 2014-2016 (%)
FIGURE 54. NVIDIA: REVENUE, 2014-2016 ($MILLION)
FIGURE 55. NVIDIA: REVENUE SHARE BY SEGMENT, 2016 (%)
FIGURE 56. NVIDIA: REVENUE SHARE BY GEOGRAPHY, 2016 (%)
FIGURE 57. NVIDIA: STRATEGY SHARE, 2014-2016 (%)
FIGURE 58. QUALCOMM: REVENUE, 2014-2016 ($MILLION)
FIGURE 59. QUALCOMM: REVENUE SHARE BY SEGMENT, 2016 (%)
FIGURE 60. QUALCOMM: REVENUE SHARE BY GEOGRAPHY, 2016 (%)
FIGURE 61. QUALCOMM: STRATEGY SHARE, 2014-2016 (%)
FIGURE 62. SAMSUNG ABC: REVENUE, 2013-2015 ($MILLION)
FIGURE 63. SAMSUNG: REVENUE SHARE BY SEGMENT, 2015 (%)
FIGURE 64. SAMSUNG: REVENUE SHARE BY GEOGRAPHY, 2015 (%)
FIGURE 65. SAMSUNG: STRATEGY SHARE, 2014-2016 (%)
FIGURE 66. VUZIX: REVENUE, 2013-2015 ($MILLION)
FIGURE 67. VUZIX: REVENUE SHARE BY SEGMENT, 2015 (%)
FIGURE 68. VUZIX: STRATEGY SHARE, 2014-2016 (%)

 

The global augmented and virtual reality market is projected to witness healthy growth, especially in Asia-Pacific and Europe, owing to the increased adoption of augmented and virtual reality-enabled mobile devices; rise in awareness about benefits of augmented and virtual reality solutions; and increase in number of gamers across these regions. The market is projected to grow at a CAGR of 65.7% from 2016 to 2022, owing to increase in adoption of augmented and virtual reality-based solutions and services in various end-user verticals such as healthcare sector, manufacturing sector, and media & entertainment sector; mobile internet users; and social media users across the globe.

Augmented and virtual technology-based solutions provide better options for training as compared to conventional tools and methods. Solution manufacturers focus on very minute details of real incidents while developing the solutions, so that a user is expected to get real-world training with minimum wastage of resources such as money, human life, and physical entities.

Under-developed countries, especially in Africa, are unable to adopt augmented and virtual reality technology due to lack of awareness about technology or infrastructural development. According to a report published by Docebo, people in Africa are willing to adopt augmented and virtual training technology in their routine applications such as learning, manufacturing processes, healthcare, and others; however, lack of proper infrastructure prevents them to progress further. Moreover, in some countries, the cost of the equipment is still high, which resists people to adopt the technology.

Prominent players-operating in the augmented and virtual reality market-are projected to concentrate on social experience enhancement; and introduction of industry-specific solutions to expand their presence across various industries such as mining, oil and gas, and transportation.

Key players are projected to focus on the acquisition or strategic alliance with startups and well-established local players to expand their market presence and outperform competitors

 

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