Showing posts with label AR & VR Market. Show all posts
Showing posts with label AR & VR Market. Show all posts

Monday, 17 April 2023

Augmented Reality and Virtual Reality Market opportunities worth $114.5 billion over technologies and growing digitization

Attractive Opportunity: Supercharge your Visualizations

The key factors fuelling the growth of this market include increasing application of AR devices in healthcare, increasing demand of AR in retail and e-commerce post pandemic, rising investments in AR and VR market, partnerships between telecom players and AR manufacturers to reduce latency to imperceptible levels, rise in demand for AR in architecture, increasing demand for VR in training and education, high growth of AR and VR in travel, tourism and enterprise applications.

Download PDF@ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1185

Key Findings of the Global Augmented Reality and Virtual Reality Market:

1. HTC Vive announced Viveverse, a cross-platform metaverse, which is an open source VR metaverse composed of various interactive worlds, apps, games. It enables the users to travel between various platforms like Vive Sync and Engage.

2. Sony enhanced its already existing product – VR headset – PSVR headset. Sony claimed to develop a PSVR headset for better experience of virtual reality in PlayStation as the PSVR headset will connect directly into PlayStation 5 console.

What are the Driving Factors of Evolution of technologies and consolidation of Augmented Reality and Virtual Reality Market?

The Augmented Reality and Virtual Reality Market is projected to grow from USD 37.0 billion in 2022 to USD 114.5 billion by 2027; it is expected to grow at a CAGR of 25.3%

Head-mounted displays contribute for maximum market share for AR and gesture tracking devices comprise a maximum market share

For device type segment of AR and VR market, The AR market for head-mounted displays is anticipated to be contributing to maximum market share at a faster growth rate during the forecast period. The use of HUDs in the automotive sector is expected to boost the growth of the AR market for HUDs.

Purchase This Premium Report on
https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=1185

Augmented Reality and Virtual Reality Market by Top Companies Profiles:
Hardware market for AR and VR is expected to grow more than the software market in the forecast period.

For the offering type segmentation of AR and VR market, the market offers software as well as hardware in both AR and VR market. The market for hardware devices is currently limited. However, it is expected to witness a higher growth rate than the software market owing to the increasing adoption of AR and VR hardware devices. Increasing penetration of AR software solutions and their compatibility with existing hardware devices are expected to drive the growth of the AR and VR market for software during the forecast period.

Major players in the augmented reality and virtual reality market are Google (US), Microsoft (US), Sony Corporation (Japan), Samsung Electronics (South Korea), HTC (Taiwan), Apple Inc., (US), PTC Inc., (US), Seiko Epson (Japan), Oculus VR (by Facebook (US)), Lenovo (China) are the key players in the global AR and VR market. These players are increasingly undertaking strategies such as product launches and development, expansions, partnerships, contracts, and acquisitions to increase their market share.

Regional Insight by MarketsandmarketsTM Research:
Asia Pacific to register higher CAGR during the forecast period

The maximum market share of the AR market is contributed by North America, with a maximum market share during the forecast period. Even though the AR market are developed in North America, the expected growth rate is lesser than the other regions such as Asia Pacific, which has the highest growth rate during the forecast period, the reason being that the market is already developed in this region, hence, stagnating growth up to a certain extent. For VR market, Asia Pacific region has the largest share in the market in 2021 as well as it is also the fastest-growing region for VR market during the forecast period with the highest growth rate. Several start-ups in the US, Germany, Canada, France, the UK, and India have focused on the upcoming trends in AR and VR services and trends such as virtual training, virtual try-ons for clothing, jewelry, make-up, virtual furniture shopping, Heads-up display in automobile industry; which led to growth in the AR devices and apps in the industry as a whole, which in turn, leads to growth in the AR and VR market.

Regions & Countries Covered:

North America - (U.S., Canada, Mexico)

Europe - (U.K., France, Germany, Italy, Spain, Rest of Europe)

Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)

Latin America - (Brazil, Argentina, Rest Of Latin America)

The Middle East & Africa - (GCC Countries, South Africa, Rest Of the Middle East & Africa)

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com
or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441

Thursday, 31 March 2022

Augmented Reality and Virtual Reality Market worth $77.0 billion and $20.9 billion by 2025 respectively

 

According to the new research report on "Augmented Reality and Virtual Reality Market with COVID-19 Impact Analysis by Offering (Hardware & Software), Device Type (HMD, HUD, Gesture Tracking), Application (Enterprise, Consumer, Commercial, Healthcare), and Geography - Global Forecast to 2025", The augmented reality (AR) market is projected to grow from USD 15.3 billion in 2020 to USD 77.0 billion by 2025; it is expected to grow at a CAGR of 38.1% from 2020 to 2025. The virtual reality (VR) market is projected to grow from USD 6.1 billion in 2020 to USD 20.9 billion by 2025; it is expected to grow at a CAGR of 27.9% from 2020 to 2025. The increasing demand for AR devices and applications in healthcare, rising investments in AR market, and growing demand for AR in retail and e-commerce sectors due to COVID-19 are the key factors driving the AR market growth. The availability of affordable VR devices, growing adoption of HMDs in different industries, the advancement of technologies and growing digitization, penetration of HMDs in gaming and entertainment sectors after COVID-19, and high investments in VR market are the key factors driving the VR market growth.

• Informational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1185

Browse 269 market data Tables and 87 Figures spread through 343 Pages and in-depth TOC on "Augmented Reality and Virtual Reality Market  - Global Forecast to 2025"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/augmented-reality-virtual-reality-market-1185.html

AR HMDs to lead AR device type market during the forecast period owing to its use in enterprise and healthcare

AR HMDs in the form of smart glasses are expected to lead the market owing to their widespread use in the enterprise sector. Efficiency and workforce management are expected to be the major use cases for HMDs in enterprise and manufacturing applications. The major use cases of AR HMDs in healthcare include pre-hospital medical care, nursing care in clinical environments, and medical treatment in hospitals. For out of hospital care and emergency medical services, HMDs can be used to help casualties in mass accidents and disasters.

Market for gesture tracking devices in VR projected to grow at a higher CAGR during the forecast period

Gesture tracking devices have been an integral part of VR hardware, mainly because these are used for consumer applications. Gaming with gesture-tracking devices provides an enhanced experience of the virtual world to the users. The market for gesture-tracking devices is expected to witness the highest growth in the VR market. Gesture-tracking devices can also be helpful for surgeons during a surgery. During surgical intervention, a surgeon needs to control surgical devices such as X-ray, drill, and endoscope; a contact-free, gesture-based controller can be used by the surgeon, which, in turn, would enable a touchless approach.

APAC to lead the AR VR market during the forecast period

APAC is expected to exhibit strong growth in the next few years owing to the significant contribution of Japan, China, and South Korea in the implementation of AR technology. APAC is expected to lead the VR market by 2025 due to the high demand for VR devices in the region and the emergence of local manufacturers in China, providing VR devices at a low cost. The strong growth of the healthcare application in China and Japan is projected to boost the healthcare market in the APAC region. The gaming industry in this region has witnessed strong growth and will act as a driver for the growth of the AR market in the region.

Major vendors in the augmented reality and virtual reality market include Google (US), Sony (Japan), 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), CyberGlove Systems (US), Leap Motion (US), and Sixense Enterprises (US). Apart from these, Talespin (US), Scanta (US), Craftars (Romania), Appentus Technologies (India), and BidOn Games Studio (Ukraine) are among a few emerging companies in the augmented reality and virtual reality market.

Don’t miss out on business opportunities in Augmented Reality and Virtual Reality Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441