NEW YORK, Aug. 25, 2022 (GLOBE NEWSWIRE) — A Qualitative Research Study accomplished by Data Bridge Market research’s database of 350 pages, titled as “Global Augmented Reality and Virtual Reality Market” with 100+ market data Tables, Pie Charts, Graphs & Figures spread through Pages and easy-to-understand detailed analysis. The credible Global Augmented Reality and Virtual Reality Market report offer actionable market insights with which businesses can make out sustainable and lucrative strategies. Not to mention, the report analyses the general market conditions such as product price, profit, capacity, production, supply, demand, and market growth rate which supports businesses on deciding upon several strategies. Porter’s Five Forces analysis has been performed while formulating this market document along with many other standard steps of researching, analyzing, and collecting data. Additionally, key players, major collaborations, mergers, acquisitions, trending innovation,s and business policies are also re-evaluated in the Augmented Reality and Virtual Reality Market report. It becomes easy to figure out brand awareness and insight about the brand and product among potential customers.
Data Bridge Market Research analyses that the augmented reality and virtual reality market was valued at USD 2,094.08 billion in 2021 and is expected to reach the value of USD 139343.56 billion by 2029, at a CAGR of 69.00% during the forecast period.
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Forecast Period – 2022 to 2029
Base Year – 2021
Historic Years – 2020 (Customizable to 2014 – 2019)
The augmented reality and virtual reality market dramatically expands the ways connected devices can help with everyday activities such as searching for information, shopping, and others, while virtual reality allows users to experience various outer world places from the comfort of their own homes. VR gaming creates a 3D environment for its users, allowing them to experience a game’s physical presence.
Virtual Reality technology provides almost real and/or believable experiences in a synthetic or virtual environment, whereas Augmented Reality enhances the real world by superimposing computer-generated information on top of it.
The industrial automation industry is expected to encourage augmented reality and virtual reality market to improve communication between self-monitoring devices, production machines, machine-to-machine communication (M2M), and the internet of things (IoT). The significant demand for AR/VR from manufacturing industries is expected to provide market participants with ample opportunities in the future.
Some of the major players operating in the Augmented Reality and Virtual Reality market are
- Seiko Epson Corporation (Japan)
- Blippar Group Limited (UK)
- MAXST CO., Ltd. (South Korea)
- CyberGlove Systems Inc. (US)
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- Epson America, Inc., a division of Japan’s Seiko Epson Corporation, partnered with 3D HoloGroup (US), a company that specialises in AR software architecture and systems integration, to sell Epson’s AR glasses in March 2020.
- PTC acquired TWNKLS (Netherlands), a provider of practical AR solutions for Industry 4.0, in June 2019 to accelerate the development of AR enterprise apps.
- Microsoft released the second-generation HoloLens, the HoloLens 2, in May 2019. The HoloLens 2 complete set includes free trials of Unity Pro, Azure credits, and the Unity PiXYZ CAD data plugin. In addition, the company announced Unreal Engine 4 support for HoloLens 2, which will provide customers with a more realistic experience.
Key Questions Answered with this Study
- The territory that may see a steep rise in CAGR & Y-O-Y growth?
- What geographic region would have better demand for product/services?
- What opportunity emerging territory would offer to established and new entrants in this market?
- Risk side analysis connected with service providers?
- What makes this Market feasible for long term investment?
- Know value chain areas where players can create value?
- How influencing factors driving the demand of this industry in next few years?
- What is the impact analysis of various factors in this market global growth?
- What strategies of big players help them acquire share in mature market?
- How Technology and Customer-Centric Innovation is bringing big Change in this market?
- Surge in wide adoption of augmented reality and virtual reality in infotainment industry
Growing demand for head-mounted displays (HMDs) in gaming and entertainment, adoption of augmented reality and virtual reality market for marketing strategies, and increasing demand for AR/VR in the retail and e-commerce industry are key factors positively impacting the AR/VR market growth. Furthermore, rising demand for augmented and virtual reality devices in the manufacturing and healthcare sectors and increased investments and funding by key market players to develop AR/VR solutions are propelling market growth.
- Importance of augmented reality in healthcare sector
In the healthcare industry, augmented reality plays a critical role. AR can be used to show a surgeon a virtual view of a patient’s body parts. This can assist the surgeon in performing minimally invasive surgeries. Augmented reality modelling and 3D visualisation are expected to benefit the healthcare sector. The use of augmented reality (AR) for improving fitness, teaching complex subjects to medical students, training doctors, managing pharmacies, and caring for and supporting patients after they leave the hospital is propelling the augmented reality and virtual reality market in this sector forward.
The high investment required for AR/VR development and SoC integration is a major factor impeding the growth of the augmented and virtual reality markets. In addition, issues with security compliance and rising cyber-attacks as a result of a lack of security standards are major factors challenging market dynamics. Furthermore, a lack of technical expertise, which results in data manipulation, spoofing, sniffing, cyber-attacks, and man-in-the-middle attacks, is expected to pose some challenges to market growth.
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The investment made in the study would provide you access to information such as:
- Augmented Reality and Virtual Reality Market [Global – Broken down into regions]
- Regional level split [North America, Europe, Asia Pacific, South America, Middle East & Africa]
- Country-wise Market Size Split [of important countries with major market share]
- Market Share and Revenue/Sales by leading players
- Market Trends – Emerging Technologies/products/start-ups, PESTEL Analysis, SWOT Analysis, Porter’s Five Forces, etc.
- Market Size
- Market Size by application/industry verticals
- Market Projections/Forecast
- Marker-based (Passive Marker, Active Marker)
- Marker less (Model-based, Image Processing-based)
- Semi- and Fully Immersive
- Others (Computer/video generator and combiner)
- Software Development Kits
By Device type
- Projectors and Display Walls
Augmented Reality and Virtual Reality Market Regional Analysis/Insights
The augmented reality and virtual reality market is analysed and market size insights and trends are provided by country, technology, offering, device type, and vertical. as referenced above.
The countries covered in the augmented reality and virtual reality market report are U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Switzerland, Netherlands, Russia, Turkey, Belgium, Rest of Europe, Japan, China, South Korea, India, Australia & New Zealand, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, South Africa, Israel, U.A.E., Saudi Arabia, Egypt, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America.
North America dominates the augmented and virtual reality market due to demand from the gaming, entertainment & media, aerospace & defence, retail, and manufacturing industries. Furthermore, major players such as Google, Facebook, DAQRI, and others provide cutting-edge solutions in North America. Furthermore, businesses in this region have invested in augmented reality, virtual reality, and simulation. Asia-Pacific is expected to grow at the fastest rate during the forecast period. The adoption of AR and VR in this region has been fuelled by the introduction of 4G technology and high-speed communication and an increase in the number of smartphone users.
TABLE OF CONTENTS
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Market Landscape
Part 05: Pipeline Analysis
Part 06: Market Sizing
Part 07: Five Forces Analysis
Part 08: Market Segmentation
Part 09: Customer Landscape
Part 10: Regional Landscape
Part 11: Decision Framework
Part 12: Drivers And Challenges
Part 13: Market Trends
Part 14: Vendor Landscape
Part 15: Vendor Analysis
Part 16: Appendix
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