Augmented Reality and Virtual Reality Market Size to Grow by USD 364557.67 Million From 2022 to 2027, Customer Landscape, Vendor Assessment & Market Dynamics- Technavio – QNT Press Release


NEW YORK, Nov. 8, 2022 /PRNewswire/ — Technavio categorizes the Global Augmented Reality (AR) and Virtual Reality (VR) Market as a part of the parent technology hardware, storage, and peripherals market, covering manufacturers of cellular phones, personal computers, servers, electronic computer components , and peripherals. The Global Augmented reality and virtual reality Market share is set to increase by USD 364557.67 Million from 2022 to 2027. Moreover, the market’s growth momentum will accelerate at a CAGR of 52.37% as per the latest market forecast report by Technavio. The market will also record a 31.83% YOY growth rate during the forecast period.

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Global Augmented Reality and Virtual Reality Market Customer Landscape

Our report analyzes the Life Cycle of the Global Augmented Reality and Virtual Reality Market from the innovator’s stage to the laggard’s stage. The report illustrates the lifecycle of the global augmented reality and virtual reality market, focusing on the adoption rates of the major countries such as the US, China, Japan, Germanyand the UK. To help companies evaluate and develop growth strategies for 2022-2027. Our researchers have included –

  • Key purchase criteria
  • Adoption rates
  • Adoption lifecycles
  • Drivers of price sensitivity
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Global Augmented Reality and Virtual Reality Market – Vendor Analysis

Vendor Landscape – The global AR and VR market is fragmented, and the vendors are deploying growth strategies such as technological advancements to compete in the market. The market players also significantly leverage external market drivers, such as increasing dependence on apps and the proliferation of AR apps for numerous activities to achieve growth opportunities. However, factors such as hardware limitations will challenge the growth of the market participants. The increasing awareness among potential customers provides enormous opportunities for small vendors, encourages small vendors to innovate and succeed in a strong competitive environment, allows vendors to understand customers’ interests, and enables direct interaction with potential buyers. Thus, making the market competitive.

Key Vendor Profiles –

  • Alphabet Inc.
  • Apple Inc.
  • Augmented Pixels Inc.
  • Blippar Ltd.
  • CyberGlove Systems Inc.
  • Eon Reality Inc.
  • To know about all 15 major vendor offerings – Download a FREE sample Now!

Global Augmented Reality and Virtual Reality MarketSegmentation Assessment

Geography Segment Overview

Technavio’s market research report entails detailed information on regional opportunities in store for vendors, which will assist in generating sales revenues. The Global Augmented Reality and Virtual Reality Market as per geography is categorized into APAC, North America, Europethe Middle East and Africaand South America. The report provides an accurate prediction of the contribution of all regions to the growth of the Global Augmented Reality and Virtual Reality Market size and actionable market understandings.

  • Regional Highlights – APAC is the fastest-growing region in the global augmented reality and virtual reality market compared to other regions. 35% of the market’s growth will originate from APAC. Factors such as the presence of key vendors, growing investments in AR and VR technology from key vendors, rising adoption of technologically advanced applications among consumers, and strong research activities to increase the application of AR and VR technologies are driving the growth of the market in the region. The US and Canada are the leading contributors to the AR and VR market in the region. The presence of key vendors in the region is likely to further augment the growth of the AR and VR market in North America.
  • Revenue Generating Segment Highlights – The Global Augmented Reality and Virtual Reality Market as per technology segmentation is categorized into AR and VR. The augmented reality and virtual reality market share growth by the AR segment will be significant during the forecast period. Factors such as new product (hardware and software ) launches, growing adoption of AR in different application areas, and rising funding and investments in AR technology are attributed to the high growth rate of the AR segment.

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Global Augmented Reality and Virtual Reality Market – Market Dynamics

  • Major DriverThe increasing demand for AR and VR technology is driving the growth of the augmented reality and virtual reality market. The adoption of AR and VR technologies has increased significantly in the last decade. The growing application areas of AR and VR technology in different fields, such as education, medical, retail, and training is boosting the growth of the market. In addition, technological innovations from vendors, coupled with the growing preference for online shopping are driving the growth of the market in focus.
  • Major TrendGrowing funding in startup AR and VR companies from investors is a major trend in the market. The growing popularity of AR and VR technologies is attracting significant funding from different companies as the application of these technologies is going beyond gaming to enterprises, healthcare, and marketing . The funding from venture capitalists in small startups will promote technological advancement in the AR and VR market, which will boost the growth of the global AR and VR market during the forecast period.
  • Major Challenges – The risks associated with AR and VR applications may challenge the augmented reality and virtual reality market growth. AR and VR collect and process vast amounts of information about users and their environment. Therefore, privacy concerns are a major challenge in the global AR and VR market. Information security risks are mostly related to AR games, which, by their nature, involve interaction with the real world. AR users engage actively with technology in various activities, such as taking photos and capturing videos on devices, which often track location data . The safety of this information depends largely on users’ behavior, how actively they share their AR experiences on social media and how freely they share their information with AR application providers.

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Augmented Reality and Virtual Reality Market 2023-2027: Key Highlights

  • CAGR of the market during the forecast period 2023-2027
  • Detailed information on factors that will assist augmented reality and virtual reality market growth during the next five years
  • Estimation of the augmented reality and virtual reality market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the augmented reality and virtual reality market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of augmented reality and virtual reality market vendors

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