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Global Augmented and Virtual Reality Market Expected to Reach $571.42 Billion by 2025

 
 

quote Asia-Pacific augmented and virtual reality market is expected to grow at a highest CAGR in the near future, due to increase in popularity of immersive technologies, rise in number of start-ups dealing in this market, and promising opportunities in healthcare & manufacturing sectors. quote

Vishwa Gaul
Research Analyst, ICT at Allied Market Research

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According to a recent report published by Allied Market Research, titled,"Augmented and Virtual Reality Market by Organization Size, Application, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global augmented and virtual reality market was valued at $11.32 billion in 2017, and is projected to reach $571.42 billion by 2025, growing at a CAGR of 63.3% from 2018 to 2025.

Expansion of gamers community, rise in smartphone penetration, and increase in use of augmented and virtual reality in manufacturing & retail industries drive the growth of the global augmented and virtual reality market. In addition, advancements in technology are expected to provide lucrative opportunities for the growth of the market. However, lack of effective user experience design is anticipated to hamper the market growth during the forecast period.

Based on application, the consumer segment led the augmented and virtual reality market in 2017. However, the enterprise segment is expected to witness the highest growth, due to its potential to reshape the business processes by recasting customer experiences.

The global augmented and virtual reality market was led by the gaming industry in 2017, and is projected to maintain its dominance during the forecast period. The healthcare sector is anticipated to witness the second highest growth rate during the forecast period.

Key Findings of the Augmented and Virtual Reality Market:

  • The large enterprises segment is expected to exhibit significant increase in terms of revenue during the forecast period.
  • In 2017, the consumer segment accounted for the highest revenue according to organization size segment.
  • The gaming industry vertical generated the highest revenue in 2017.
  • Asia-Pacific is projected to exhibit substantial growth during the forecast period.

Some of the key players operating in the augmented and virtual reality market include Alphabet (Google Inc.), DAQRI, HTC, Facebook, Magic Leap, Inc., Microsoft Corporation, Osterhout Design Group, Samsung Electronics Co., Ltd., Sony, and Wikitude.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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quote Augmented and Virtual Reality Market by Organization Size (Large Enterprises and Small & Medium Sized Enterprises), Application (Consumer and Enterprise), Industry Vertical (Gaming, Entertainment & Media, Aerospace & Defense, Healthcare, Education, Manufacturing, Retail, and Others): Global Opportunity Analysis and Industry Forecast, 2018 - 2025 quote

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