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WASHINGTON, April 11, 2022 (GLOBE NEWSWIRE) — The “Augmented Reality and Virtual Reality Market Size, Share & Trends Analysis Report by Application (Consumer, Enterprise, Commercial, Others), by Organization Size (Large Enterprises, Small & Medium-sized Enterprises), by Industry Vertical (Gaming, Entertainment & Media, Aerospace & Defense, Healthcare), by AR Technology (Marker-based, Markerless, Anchor-based), by VR Technology (Non-immersive, Semi/ Fully Immersive), by Region (North America, Asia Pacific, Europe, Latin America, Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)” report has been added to VantageMarketResearch offering.
Synopsis:
The global Augmented Reality and Virtual Reality Market size is expected to reach over USD 105,676.7 Million by 2028, exhibiting a CAGR of 35.7% during the forecast period.
The global Augmented Reality and Virtual Reality Market are witnessing substantial growth owing to the training and infotainment market. Augmented reality is a field of computer research that deals with the combination of computer-generated data and the real world. Moreover, augmented reality involves co- operation with real-time and the data can be produced in real-time which is expected to increase the demand for augmented reality during the forecast period. In addition, augmented reality is used in various applications such as presentation, television, simulations (flying, driving), video games (physical interaction with 3d models) which is projected to drive the growth of the augmented reality market in the upcoming years. Besides, heavy penetration is the wide spectrum of application areas for the virtual reality technology. Moreover, the use of virtual reality in the healthcare sector is experiencing tremendous growth and thus driving the growth of the Augmented Reality and Virtua l Reality Market during the forecast period. The rising demand for augmented reality devices in the healthcare sector, growing demand for AR in the retail and e-commerce sector are the major factors projected to boost the market growth during the forecast period. The easy accessibility of affordable virtual reality devices, increasing adoption of HMDs in various industries, growing digitalization, advancement in technologies, and high investments in the virtual reality market are the prime factors expected to drive the virtual reality market growth during the forecast period. Furthermore, growth in the mobile gaming industry, increasing internet connectivity, and increase in the use of consumer electronic devices are predicted to be the key factors contributing to the growth of the Augmented Reality and Virtual Reality Market during the forecast period.
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Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Augmented Reality and Virtual Reality market is predicted to grow at a CAGR of roughly 35.7% during the forecast period.
- The Augmented Reality and Virtual Reality market was estimated to be worth roughly USD 16.92 Billion in 2021 and is expected to reach USD 105.67 Billion by 2028; based on primary research.
- On the basis of region, Asia Pacific is projected to dominate the worldwide Augmented Reality and Virtual Reality market.
List of Prominent Players in the Augmented Reality and Virtual Reality Market:
- Google (US)
- Sony (Japan)
- Apple (US)
- Samsung Electronics (South Korea)
- Microsoft (US)
- HTC (Taiwan)
- Oculus (US)
- PTC (US)
- Seiko Epson (Japan)
- Lenovo (China)
- Wikitude (Austria)
- Magic Leap (US)
- Blippar (UK)
- Upskill (US)
- MAXST (South Korea)
- EON Reality (US)
- Vuzix (US)
- Cyber Glove Systems (US)
- Leap Motion (US)
- Atheer (US)
- Sixense Enterprises (US)
- Nintendo (Japan)
- Psious (Spain)
- Marxent Labs (US)
- Inglobe Technologies (Italy)
- Meta Company (US)
- Niantic (US)
- Augment (France)
- Mindmaze (Switzerland)
- Firsthand Technology (US)
- Worldviz (US)
- Virtuix (US)
- Survios (US)
- Intel (US)
- Real Wear (US)
- Merge Labs (US)
- SpaceVR (US)
- Virtually Live (Switzerland)
- Xiaomi (China)
- Panasonic (Japan)
- Dynabook Americas (US)
- Optinvent (France)
- Way Ray (Switzerland)
- Scope AR (US)
- Continental (Germany)
- Visteon (US)
- Talespin (US)
- Craftars (Romania)
- Scanta (US)
- Appentus Technologies (India)
- BIDON Games Studio (Ukraine)
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