A research titled “Augmented Reality and Virtual Reality Market – Global Industry Analysis & Forecast, 2017-2025” was just released by Future Market Insights. Between 2017 and 2025, augmented reality and virtual reality market, which was valued at US$ 5,176 Mn in 2016, is anticipated to grow at a CAGR of 42.2%. The global market for augmented reality and virtual reality is expanding as a result of investments by technology businesses, particularly gaming companies.
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Global Augmented Reality and Virtual Reality Market: Overview, Analysis, & Forecast
By device type, technology, end user, application, and component, the global augmented reality and virtual reality market is divided. Hardware, software, and services have all been added as additional categories for the component section. These sub-segments of the hardware market have been identified: display, processor, sensors, user interface integrated circuits, power management integrated circuits, and others. During the projection period, it is anticipated that the Sensors sub-segment would grow at a CAGR of 50%.
The global augmented reality and virtual reality market has been divided into augmented reality and virtual reality based on technology. The virtual reality market has the largest market share and a global market value of US$ 3,498 Mn in 2016. Additionally, the use of AR & VR in gaming is accelerating quickly, which is driving the segment’s expansion in the overall market. However, it is anticipated that the virtual reality market will continue to grow at a steady rate of 40.5% over the projection 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.
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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.
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.
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.
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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
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
By Device
- Head Mounted Display
- Handheld Devices
- Head-up display
- Smartglasses
- Others
By Component
- Hardware
- Software
- Services
About Us:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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