Find Out Why Augmented Reality and Virtual Reality Market is thriving worldwide by top key players like DAQRI, LLC, Laster Technologies, Augmented Pixels Inc.
The global augmented reality and virtual reality market is expected to grow at a CAGR of 41.2% during the forecast period 2016 to 2025 and expected to reach US$ 130.01 Bn in 2025 from US$ 5.83 Bn in 2016.
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Since past decade, computer technology has been diversified into many innovative verticals. This has changed the way of thinking, interacting and decision making of every individual. The recent advancements such as IoT, cloud computing, 3D printing, automation, advanced communication systems, artificial intelligence, Big Data, AR and VR and many others are the driving factors influencing the change in dynamics from living to running a business. AR technology blends the virtual and real world objects, with AR users will be able to interact with virtual object and also will be able to distinguish between the real and virtual contents. AR has found more success within short period of time, this technology has been more adopted in consumer sector and is expected to surpass the VR market in near future. In 90`s, VR was trending technology which many companies tried and could not make the best use of it. Nitendo was one of the notable devices early 90`s which could not sustain in market even for a year. VR technology will allow users to experience set of objects virtually and users will not be able to make difference between the virtual and real objects at any instant. VR is usually achieved by the wearing of a VR helmet or goggles but will not be able to view both virtual and real content simultaneously. The South America augmented reality and virtual reality market region is expected to witness a CAGR growth rate of 34.2% in the coming years.
Augmented Reality and Virtual Reality Market
- DAQRI, LLC
- Augmented Pixels Inc.
- EON Reality, Inc
- Innovega, Inc.
- Catchoom
- Laster Technologies
- Layar B.V.
- Total Immersion
- Vuzix Corporation
- Zugara, Inc.
- Marxent Labs LLC
- Blippar
- Oculus VR, LLC
- Microsoft Corporation
- Google, Inc.
Smart phones are the must have digital devices today, they have changed the way we communicate, travel, design, run business, and many more. In recent years smartphones revolutionized the world, and still the ongoing R&Ds to launch advanced features, improved and more customer centric and enterprise level applications holds the market for years to go. AR and VR are the technologies which immerse the user into virtual world and allows to interact with the virtual objects being in real environment. Augmented reality is not device dependent for an extent, and this technology can reach out to users through their smartphones and tablets through developed applications. Smartphone and tablets manufacturers are integrating more of these AR applications to increase the user experience and with growing smartphone market, AR integrations are expected to take a leap in near future. Subsequently, driving the growth for augmented reality and virtual reality market in the coming years.
AR and VR were in the talks of investments in 2015, giant companies such as Facebook, Microsoft, Google and others having invested in this market are skeptical of the outcome till today. The slow growth in the adoption of this technology clearly shows 2016 offers huge opportunity for this market to grow further. The new interface of communication offered by AR and VR technology will overtake the markets of existing interfaces in activities such as shopping, education, browsing internet, live shows and many others. Higher adoption rate is found in regions such as North America, Europe and followed by APAC and others. The early adopting industries include healthcare, defense, designing or architecture, logistics, manufacturing, and services. Some of the key opportunities include. One of the future driving applications is labor training. AR is expected to play a vital role in training and developments of new recruits, it renders more flexibility to understand the operations of machineries, systems and other utilities. Thus, the growing scope of application of AR and VR application across different industry vertical is expected to provide numerous profitable opportunities for the augmented reality and virtual reality market players in the coming years.
Augmented Reality and Virtual Reality Market – By Technology
- Augmented Reality (AR)
- Virtual Reality (VR)
Augmented Reality and Virtual Reality Market – By Components
- Sensors
- Semiconductor Components
- Others (Displays, HMD, etc.)
Augmented Reality and Virtual Reality Market – By End-User Industry
- Real Estate and Architecture
- Medical
- Entertainment
- Industrial
- Education
- Aerospace and Defense
- Others (Retails, Travel, Marketing, etc.)
Augmented Reality and Virtual Reality Market – By Geography
- North America : U.S, Canada, Mexico
- Europe: France, Germany, Italy, Spain, U.K Rest of Europe
- Asia Pacific (APAC): Japan, China, India, Australia, Rest of APAC
- Middle East & Africa (MEA): Saudi Arabia, South Africa, UAE, Rest of MEA
- South America (SAM): Brazil, Rest of SAM
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