The increasing
demand for AR devices in healthcare, growing demand for AR in retail and
e-commerce, and rising investment in the augmented reality market are the major
drivers for the augmented reality market. The high penetration of head-mounted
displays in gaming and entertainment, huge investments in the VR market,
advancement of technology and digitization, and availability of affordable VR
devices are the major drivers of the VR market.
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Browse 129 tables and 58 figures spread through 253 pages
and in-depth TOC on "Augmented Reality and Virtual Reality Market -
Global Forecast to 2023"
Head-up displays to witness high growth in the AR market during
the forecast period
Head-up
displays (HUDs) for the augmentation of images are presently used in
automotive, and aerospace & defense sectors for training purposes; the AR
market for HUDs is still in the developing phase and is likely to commercialize
in the near future. The AR HUDs are likely to be used mainly for navigation in
airplanes and automotive. The information such as the roadmap and the speed
along with the other necessary details in the line of sight would be displayed
at the windscreens and would help the driver to drive safely. The use of
head-up displays for applications such as automotive, and aerospace &
defense would help the market to grow at a higher rate.
Consumer application to lead the augmented reality and virtual
reality market
The
consumer application has been studied on the basis of gaming, sports, and
entertainment sections. The augmented reality market has witnessed a high
growth and leads the market owing to its use in apps. The AR gaming apps have
seen widespread adoption in the last 2 years and are expected to be the major
drivers for the growth of the augmented reality market. However, the consumer
application leads the VR market due to the high demand for HMDs in gaming and
entertainment.
Major players in the augmented reality and virtual reality
market are Sony (Japan), Oculus (US), Samsung (South Korea), Google (US), PTC
(US), HTC (Taiwan), Microsoft (US), Wikitude (Austria), DAQRI (US), Zugara,
(US), Blippar (UK), Osterhout Design Group (US), Magic Leap (US), Upskill (US),
Continental (Germany), Visteon (US), Eon Reality (US), MAXST (South Korea) and
Vuzix (US).
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APAC expected to hold a major share of the augmented reality and
virtual reality market during the forecast period
APAC
comprises China, Japan, India, South Korea, and Rest of APAC. Being an emerging
economy, APAC is witnessing major changes in the adoption of new technologies
and advancements. Owing to a large number of display panel manufacturers in the
region, APAC witnesses an increasing adoption of latest technologies. The
rising investments in commercial and defense applications and its security
applications would also boost the growth of the AR and VR market in this
region. Also, the growing healthcare and automotive market in Japan would drive
the growth of AR technology.
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MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com