Augmented Reality and Virtual Reality Market, Regional Target Segmentation Growth Demand 2027: Hewlett-Packard Company, Augmented Pixels Inc
The global Augmented Reality and Virtual Reality Market Augmented Reality and Virtual Reality Market 2020 are poised to reach USD 767.67 billion by 2025, recording a whopping 73.7% CAGR over the assessment period (2018 to 2025).
states the recent Market Research Future (MRFR) analysis. Augmented reality (AR) & virtual reality (VR) smart glasses, simply put, are wearable devices that are worn, such as regular glasses and merge virtual information with physical information in the view field of a user.
Various factors are propelling the global AR and VR smart glasses market share. According to the recent MRFR report, such factors include growing demand for augmented reality devices in medical training and education, inpatient care management, and the growing interest of top tech giants.
On the contrary, health concern for low resolution, less power consumption, and poor performance of VR and AR apps may deter the global AR and VR smart glasses market growth over the forecast period. Besides, the impact of the current COVID-19 outbreak has also impacted the growth of the market to some extent.
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the major players identified by MRFR in the global Augmented Reality and Virtual Reality market as EON Reality Inc., Terminal Eleven (SkyView), Hewlett-Packard Company, Augmented Pixels Inc., DAQRI LLC, Wikitude GmbH, Sony Corporation, Zapper Limited, Virtalis Limited, Google LLC, awe.org Pty Ltd (buildar.com), HTC Corporation, Samsung Group, Blippar, Microsoft Corporation, Facebook Inc., Magic Leap Inc., PTC Inc., and Visteon Corporation
The industry has been bifurcated between handheld augmented reality and virtual reality based on technology.
The industry has been divided into devices, solutions, and applications based on the component.
The AR-VR market has been divided into virtual reality devices and augmented reality devices based on the device type.
The market has been split into consumer electronics, aerospace & defence, media & entertainment, hospitality, healthcare, automobile, BFSI, engineering, IT & telecommunication, travel & tourism, education, and real estate, based on the vertical.
The geographical analysis of AR-VR market has been analyzed for North America, Europe, Asia-Pacific, and the rest of the world.
Due to the association of eminent market players and rising investors in AR / VR technology, North America has been identified as the most significant market share in the AR / VR market. Retail organisations are implementing AR devices for visual merchandising of their products in Canada, the US, and Mexico. As a result of their demand in the defence industry for simulation-based training in the region, there is a rising need for head-mounted displays, accelerating market growth in the North American region.
Europe has been assessed as the second largest market share due to the growing adoption of VR / AR technologies in the media & entertainment industry for play-stations and mobile games. The industry also produces considerable revenue from the growing implementation of virtual reality and augmented reality technologies in countries such as France, the United Kingdom, Germany, Spain , Italy and other European nations.
Asia-Pacific is expected to account for the third-largest market share and is poised to experience considerable growth in the coming years due to the acceptance of augmented reality and virtual reality technologies for 3D modelling, 3D rendering, and virtualization by various industry verticals. Business development is expected to gather traction in nations such as China , India , Japan, Australia , South Korea, among others.
With growing demand for AR / VR technologies and acquisitions from key markets to provide solutions for virtual and augmented reality to small and medium-sized enterprises in the retail, medical and e-commerce sectors, the region of Latin America and the Middle East & Africa is likely to reach substantial market growth.
The global Augmented Reality and Virtual Reality Trends has been affected due to the lockdown across the regions. This pandemic situation has hampered the Augmented Reality and Virtual Reality Growth as well as its productivity, supply chain, and others. Moreover, the global market has lost its investors due to the increasing loss for the products, supply, transportation, workforce, and others. However, in the meantime, the key market players have implied various strategic techniques to boost global market growth. Thus, to meet the global market demands, the global market increased its speed in producing more valuable products for its intended customers. Recently, the global market has stabilized its position in the global market and is expected to register a higher Augmented Reality and Virtual Reality Size for the forecast period.
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Table of Contents:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
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