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Global Augmented Reality and Virtual Reality Market – Industry Trends and Forecast to 2029

  • ICT
  • Upcoming Report
  • Jun 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Augmented Reality and Virtual Reality Market, By Technology (Augmented Reality Technology, Virtual Reality Technology), Offering (Hardware, Software), Device Type (Augmented Reality, Head-mounted Displays, Head-up Displays, Virtual Reality, Head-mounted Displays, Gesture-tracking Devices Projectors and Display Walls), Vertical (Consumer Electronics, Media & Entertainment, Healthcare, Retail, Aerospace & Defence, Automotive, BFSI, IT & Telecommunication, Manufacturing, Education, Travel & Tourism, Real Estate) – Industry Trends and Forecast to 2029

 

Augmented Reality and Virtual Reality Market

Market Analysis and Size

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.

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.

Market Definition

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.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Technology (Augmented Reality Technology, Virtual Reality Technology), Offering (Hardware, Software), Device Type (Augmented Reality, Head-mounted Displays, Head-up Displays, Virtual Reality, Head-mounted Displays, Gesture-tracking Devices Projectors and Display Walls), Vertical (Consumer Electronics, Media & Entertainment, Healthcare, Retail, Aerospace & Defence, Automotive, BFSI, IT & Telecommunication, Manufacturing, Education, Travel & Tourism, Real Estate)

Countries Covered

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

Market Players Covered

Google (US), Sony Corporation (Japan), Apple Inc. (US), Samsung (South Korea), Microsoft (US), HTC Corporation (Taiwan), Oculus (US), PTC (US), Seiko Epson Corporation (Japan), Lenovo (China), Wikitude (Austria),  Blippar Group Limited (UK),) MAXST CO., Ltd. (South Korea), EON Reality (US), Uil VR Solutions BV(US), CyberGlove Systems Inc. (US), (US), Nintendo (Japan)

Opportunities

  • Industrial automation industry is expected to encourage the use of augmented reality and virtual reality market.
  • Increased investments in technological advancements and innovations
  • The significant demand for AR/VR from manufacturing industries

Augmented Reality and Virtual Reality Market Dynamics

Drivers

  • 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.

Opportunity

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.

Restraints

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.

This augmented reality and virtual reality market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the augmented reality and virtual reality market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Augmented Reality and Virtual Reality Market

The COVID 19 has accelerated digitization and provided a much-needed boost to global technology adoption. These technologies are useful in a variety of industries, including healthcare, education, tourism, retail, and others. After the lockdown restrictions are lifted, the pandemic's behavioral changes will last much longer, if not forever. People would remain socially distant while being virtually close using augmented reality and virtual reality market technologies and extended reality. Businesses would be able to run and grow regardless of the challenges posed by social distancing if AR/VR platforms were available. Furthermore, as internet connectivity improves, more people will be able to work from remote locations and smartphones, allowing the masses to work online.

Recent Development

  • 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.

Global Augmented Reality and Virtual Reality Market Scope

The augmented reality and virtual reality market is segmented on the basis of technology, offering, device type, and vertical. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Technology

  • Augmented Reality
  • Marker-based (Passive Marker, Active Marker)
  • Marker less (Model-based, Image Processing-based)
  • Anchor-based
  • Virtual Reality
  • No immersive
  • Semi- and Fully Immersive

Offering

  • Hardware
  • Sensors
  • Semiconductor Components
  • Displays and Projectors
  • Position Trackers
  • Cameras
  • Others (Computer/video generator and combiner)
  • Software
  • Software Development Kits
  • Cloud-Based Services
  • AR Software Functions
  • VR Content Creation

Device type

  • Augmented Reality
  • Head-mounted Displays
  • Head-up Displays
  • Virtual Reality
  • Head-mounted Displays
  • Gesture-tracking Devices
  • Projectors and Display Walls

Vertical

  • Consumer Electronics
  • Media & Entertainment
  • Healthcare
  • Retail
  • Aerospace & Defence
  • Automotive
  • BFSI
  • IT & Telecommunication
  • Manufacturing
  • Education
  • Travel & Tourism
  • Real Estate

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.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Augmented Reality and Virtual Reality Market Share Analysis

The augmented reality and virtual reality market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to augmented reality and virtual reality market.

Some of the major players operating in the augmented reality and virtual reality market are:

  • Google (US)
  • Sony Corporation (Japan)
  • Apple Inc. (US)
  • Samsung (South Korea)
  • Microsoft (US)
  • HTC Corporation (Taiwan)
  • Oculus (US)
  • PTC (US)
  • Seiko Epson Corporation (Japan)
  • Lenovo (China)
  • Wikitude (Austria)
  • Blippar Group Limited (UK)
  • MAXST CO., Ltd. (South Korea)
  • EON Reality (US)
  • Uil VR Solutions BV(US)
  • CyberGlove Systems Inc. (US)
  • Nintendo (Japan)

Research Methodology: Global Augmented Reality and Virtual Reality Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The stage includes the obtainment of market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Customization Available

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.


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Frequently Asked Questions

The Augmented Reality and Virtual Reality Market value is expected USD 139343.56 million by 2029.
The Augmented Reality and Virtual Reality Market is to grow at a CAGR of 69.00% during the forecast by 2029.
The major players operating in the Augmented Reality and Virtual Reality Market are Google (US), Sony Corporation (Japan), Apple Inc. (US), Samsung (South Korea), Microsoft (US), HTC Corporation (Taiwan), Oculus (US), PTC (US), Seiko Epson Corporation (Japan), Lenovo (China), Wikitude (Austria), Blippar Group Limited (UK),) MAXST CO., Ltd. (South Korea), EON Reality (US), Uil VR Solutions BV(US), CyberGlove Systems Inc. (US), (US), Nintendo (Japan).
The major countries covered in the Augmented Reality and Virtual Reality Market 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.