Augmented Reality and Virtual Reality Market worth $114.5 billion by 2027

 

According to a research report "Augmented Reality and Virtual Reality Market by Technology Type (AR: Markerless, Marker-base; VR: Non-Immersive, Semi-immersive and Fully Immersive Technology), Device Type, Offering, Application, Enterprise, and Geography - Global Forecast to 2027" published by MarketsandMarkets, the AR and VR 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% from 2022 to 2027. The key factors fueling 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.

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Browse 275 market data Tables and 70 Figures spread through 376 Pages and in-depth TOC on "Augmented Reality and Virtual Reality Market by Technology Type (AR: Markerless, Marker-base; VR: Non-Immersive, Semi-immersive and Fully Immersive Technology), Device Type, Offering, Application, Enterprise, and Geography - Global Forecast to 2027"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/augmented-reality-virtual-reality-market-1185.html

Head-mounted displays contribute for maximum market share for AR and gesture tracking devices comprise a maximum market share in 2021

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. The increasing demand for AR smart glasses for industrial applications is expected to drive the growth of the AR market. Consumer applications such as gaming, sports, and entertainment are expected to boost the VR market for head-mounted displays. The VR market for head-mounted displays for consumer applications is expected to increase, but the maximum market share in VR market in 2021 was for gesture tracking devices.

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. AR technology is anticipated to continue its growth in the software segment through the emergence of various emerging AR projects that will evolve into large-scale projects. The VR market for hardware is expected to hold a larger market share in the forecast period with the increasing boom of the VR hardware such as VR headsets for gaming, entertainment, training. The reduction in the growth rate of the AR market for software is due to the widespread availability of AR software in the market.

Asia Pacific is projected to grow at the fastest rate for AR market during the forecast period and maximum market share in VR market in 2021

For the AR market, by region, 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, jewellery, 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.

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.

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Interactive Kiosk Market expected to reach $39.1 billion by 2027

 

The report "Interactive Kiosk Market with COVID-19 Impact by Offering (Hardware and Software & Services), Type (Bank Kiosks, Self-service Kiosks and Vending Kiosks), Location (Indoor and Outdoor), Panel Size, Vertical and Region - Global Forecast to 2027", is projected to grow from  USD 28.8 billion in 2022 and is projected to reach USD 39.1 billion by 2027; it is expected to grow at a CAGR of 6.3 % from 2022 to 2027.

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Browse 172 market data Tables and 60 Figures spread through 278 Pages and in-depth TOC on "Interactive Kiosk Market with COVID-19 Impact by Vertical and Region - Global Forecast to 2027"
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The growth of this market is driven by factors such as enhanced shopping experience for customers, rising demand for self-service in banking & financial services, enhanced applications over conventional services and innovations in touch screen display and glass technology.

“Interactive kiosk market for bank kiosks expected to grow at the highest CAGR from 2022 to 2027 ”

Interactive kiosks are largely used for banking and financial services. The market for bank kiosks is expected to register the highest CAGR during the forecast period. The bank kiosks, through their ability to perform different functions, provide more convenient, flexible, high-performance, point-of-interaction solutions to consumers for their banking activities. The customers can complete standard transactions and get remote assistance for complex transactions through these kiosks. Factors such as the incorporation of modern technology in the banking sector and initiatives taken by banks to combine technology and the finance sector to cut down labor costs and bring about a more technical approach to banking are driving the interactive kiosk market for bank kiosks.

“ Panel size above 32” is expected to grow at higher CAGR from 2022 to 2027”

The market for above 32” interactive kiosks are expected to grow at a higher CAGR from 2022 to 2027. The panels with sizes between 32 inches and 65 inches are mainly used in the healthcare and hospitality sectors. Besides, these screens are also used in restaurants as menu boards to indicate prices, ingredients, and waiting time of the order taken from customers, though the market has the highest growth in the healthcare and hospitality sectors. These large-sized displays are very expensive. Hence, they are primarily used in some niche applications. However, improved product performance and reduced cost are expected to open up new application areas for these displays in the corporate, educational, hospitality, and retail sectors during the forecast period.

“ Interactive kiosk market for software & services segment to witness highest CAGR during the forecast period”

The for software & services offering segment is expected to witness higher growth during the forecast period. Software solutions play a major role as the kiosk supplies have to provide customized solutions to the sellers as per the product and location requirements. With progressing technologies, robust and user-friendly software solutions are being deployed for the smooth functioning of kiosks. Hence, the interactive kiosk market for software would experience a high growth owing to these advanced software solutions. Similarly, services that include deployment, installation, training, maintenance, upgrades, and technical support are major concerns for kiosks.

“ North America held significant share of interactive kiosk market in 2021 and is expected to follow the trend by 2027”

North America is expected to account for the largest share of the interactive kiosk market during the forecast period. The interactive kiosk market in North America is driven by various factors such as the need to save time, need for accuracy, high living standard compared with other regions and efficiency in retail services. Interactive kiosk manufacturers in North America are focused on manufacturing precise and fast. The retail sector in the US is moving toward a more solution-oriented approach. This has motivated manufacturers to come up with highly automated products. The favorable economic conditions prevailing in North America and the growing demand for kiosk services among customers have encouraged various end-user industries involved in mainstream automated operations to carry out easy and quick point-of-sale (PoS) services.

Key players in the interactive kiosk market include KIOSK Information Systems (US), Olea Kiosks Inc. (US), Frank Mayer and Associates, Inc. (US), Source Technologies (US), NCR Corporation (US), GLORY LIMITED (Japan), Diebold Nixdorf (US), Embross (Canada), Meridian Kiosks (US), REDYREF Interactive Kiosks (US), lilitab, LLC (US).

Apart from these, Korala Associates Limited (KAL) (US),  Acante Solutions Limited (UK), SlabbKiosks (US), IntuiFace (France), Aila Technologies (US), Advanced Kiosks (US), Dynatouch (US), LamasaTech (UK), Shenzhen Lean Kiosk Systems Co., LTD (LKS) (China), are among a few emerging companies in the interactive kiosk market.

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

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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.

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Virtual Production Market Trends worth USD 5.1 billion Impact Analysis CAGR of 14.5% by 2027

 

Recent Developments in Virtual Production Market

#1 May 2022, Mo-Sys Engineering Ltd. announced the launch of new Virtual Manufacturing courses to meet the rising need for educated technicians in the virtual production industry. This enhanced and comprehensive program has been meticulously crafted and is expected to be taught by the Mo-Sys' Academy.

#2 April 2022, HTC VIVE launched its first turnkey virtual production product, VIVE Mars CamTrack. It makes virtual production fast, easy, and affordable by consolidating the entire camera tracking workflow into a compact, plug-and-play module with professional-grade features. VIVE Mars CamTrack lets actors jump into any number of virtual backdrops in real-time during production, in many cases eliminating the need to shoot onsite and empowering filmmakers to unleash their full creative potential.

Projected Surge in Revenue Generation:

The virtual production market is projected to grow from USD 2.6 billion in 2022 to USD 5.1 billion by 2027, at a CAGR of 14.5% from 2022 to 2027. Establishment of new virtual production studios expected to create lucrative opportunities for the growth of virtual production market in near future.

To know about the assumptions considered for the study, download the PDF brochure

Adobe Inc. (US), NVIDIA Corporation (US), Sony Group (Japan), Autodesk Inc. (US), Technicolor (France), HTC Corporation (Taiwan), Vicon Motion Systems Ltd (UK), SideFX (Canada), Epic Games (US), Mo-Sys Engineering Ltd. (UK), are some key players in the virtual production market. To retain their presence in the virtual production market, these players have adopted various growth strategies, such as product launches, acquisitions, expansions, partnerships, collaborations, mergers, and contracts. Product launches have been the most dominating strategy adopted by the key players from 2018 to 2022 to help them strengthen their product portfolio and broaden their customer base.

Increasing demand for VFX and CGI in movies stimulates market growth

In 2021, the software segment accounted for the largest share of the virtual production market. The dominance of the segment is attributed to the increasing demand for VFX and CGI in movies. Continuous organic and inorganic growth strategies adopted by virtual production ecosystem players have enhanced the growth of the market. For instance, in May 2022, Mo-Sys Engineering Ltd. formed a partnership with GMS International to make augmented reality and virtual production solutions available to South Korean cinematographers and broadcasters.

Movies segment to capture the lion’s share in the virtual production market

In 2021, the movies segment accounted for the largest share of the virtual production market. The rising trend in moving movies from theaters and multiplexes to over-the-top (OTT) platforms enables producers to access broader audiences. The substantial budgets of movies and increasing demand for VFX-based movies have led to the growth of the movies segment. As stated in the Theme Report 2021 published by the Motion Picture Association, the production of new movies continued to skyrocket post the pandemic. In 2021, approximately 940 films were initiated for production in the US. However, in 2018, 2019, and 2020 only 808, 814, and 443 films were produced during the respective years.

Adobe Inc.

Adobe Inc. is one of the world's largest and most diverse software companies. It provides a suite of tools and services for photographers, video editors, graphic and experience designers, and game developers; communicators, such as content creators, students, marketers, and knowledge workers; businesses of all sizes; and consumers for creating, managing, delivering, measuring, optimizing, engaging, and transacting with compelling content and experiences across personal computers, smartphones, and other electronic devices. It provides various products that pertain to the virtual production market through the Digital Media segment. Furthermore, it provides products, services, and solutions that enable individuals, teams, and enterprises to create, publish and promote their content anywhere and accelerate their productivity by modernizing how they view, share, engage with, and collaborate on documents and creative content. The segment is centered around Adobe Creative Cloud and Adobe Document Cloud.

NVIDIA Corporation

NVIDIA Corporation is a pioneer in GPU-accelerated computing. It specializes in products and platforms for the large, growing markets of gaming, professional visualization, data center, and automotive. It provides virtual production solutions through one of its markets named professional visualization. It collaborates with third-party software providers to improve their solutions for NVIDIA GPUs. These GPU computing solutions boost productivity and provide new capabilities to crucial workflows in a variety of industries, including design and manufacturing, as well as digital content creation. Professional video editing and post-production, special effects for films, and broadcast-television graphics are all examples of digital content creation.

Related Reports:

Virtual Production Market by Offering (Hardware, Software, Services), Type (Pre-Production, Production, Post-Production), End User (Movies, Television Series, Commercial Advertisement, Online Videos), Region - Global Forecast to 2027

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Augmented Reality Market worth $88.4 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 31.5%

 

Recent Developments in the Global Augmented Reality Market:

#1 Microsoft launched its new app called Microsoft Mesh that gives users across AR/VR meeting space to interact with other users and 3D content, handling all the technical hard parts of sharing spatial multiplayer experiences over the web.

#2 Microsoft won a contract from the US Army to supply HoloLens technology. The deal is worth about USD 22 billion, lasting for 10 years when Microsoft will provide the military with 120,000 AR headsets.

Projected Surge in Revenue Generation:

Augmented Reality Market with COVID-19 Impact Analysis, by Device Type (Head-mounted Display, Head-up Display), offering (Hardware, Software), Application (Consumer, Commercial, Healthcare), Technology, and Geography - Global Forecast to 2026 published by MarketsandMarkets, the augmented reality market was valued at USD 14.7 billion in 2020 and is projected to reach USD 88.4 billion by 2026; it is expected to grow at a CAGR of 31.5% from 2021 to 2026.

• Informational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=82758548

Browse 169 market data Tables and 61 Figures spread through 216 Pages and in-depth TOC on "Augmented Reality Market - Global Forecast to 2026"
View detailed Table of Content here -https://www.marketsandmarkets.com/Market-Reports/augmented-reality-market-82758548.html

Major Growth Boosting Factors:

Hardware segment to account for the largest share of augmented reality market during the forecast period

On the basis of offering, the augmented reality market has been segmented into hardware and software. The hardware segment of the augmented reality market is projected to witness a higher growth rate than the software segment, owing to the increasing adoption of augmented reality hardware globally.

Consumer application to account for the largest share of augmented reality market during the forecast period

On the basis of application, the augmented reality market has been segmented into consumer, commercial, aerospace & defense, healthcare, enterprises (manufacturing), automotive, energy, and others. The consumer application segment is projected to account for the largest size of the augmented reality market from 2021 to 2026.

Geographic Analysis

• North America
• Europe
• APAC
• RoW

APAC to account for the largest share of augmented reality market during the forecast period

The flourishing enterprises (manufacturing) sector in China and Japan is projected to fuel the growth of the augmented reality market in APAC. The gaming industry in this region has also witnessed significant growth, thereby contributing to the increased demand for augmented reality technology in APAC. Additionally, rising investments in commercial applications of augmented reality are also expected to contribute to the growth of the market in APAC. Moreover, the thriving healthcare and automotive sectors in Japan are also projected to drive the demand for AR technology in the region.

Some key companies operating in the market are Google, Inc. (US), PTC Inc. (US), Seiko Epson (Japan), Microsoft (US), Lenovo (Hong Kong), Samsung Electronics (South Korea), Apple (US), and so on.

Don’t miss out on business opportunities in Augmented 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.

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SCADA Market Trends worth $13.2 Billion Impact Analysis CAGR of 7.6% by 2026

 

Recent Developments in SCADA Industry

#1 Emerson Electric acquired Progea Group (Italy), one of the key providers of plant analytics, IIoT, HMI, and SCADA technologies. The acquisition enables the addition of Progea’s analytics, industrial visualization, and IIoT capabilities to enhance Emerson’s embedded software and control portfolio.

#2 Schneider Electric developed the next-gen EcoStruxure Power, an IoT-enabled platform that digitizes, optimizes, and simplifies electrical distribution systems to make them safer, smarter, and faster.

According to the new market research report "SCADA Market with COVID-19 Impact by offering (Hardware, Software, Services), Component (Programmable Logic Controller, Remote Terminal Unit, Human‒Machine Interface, Communication System), End User, and Region - Global Forecast to 2026", the global SCADA market size was valued at USD 9.2 billion in 2021 and is projected to reach USD 13.2 billion by 2026; it is expected to grow at a CAGR of 7.6% from 2021 to 2026.

• Informational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=19487518

Browse 158 market data Tables and 87 Figures spread through 230 Pages and in-depth TOC on "SCADA Market with COVID-19 Impact by End User, and Region - Global Forecast to 2026"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/scada-market-19487518.html

Major Growth Boosting Factors:

Services offering accounted for the largest size of the SCADA market in 2020.

The services segment accounted for the largest share of the SCADA market in 2020. Many of the industries in the Americas and Europe have already implemented SCADA systems. Thus, there are fewer opportunities in terms of the implementation of new SCADA systems. However, in terms of modification of SCADA systems, there are huge opportunities. After the installation of SCADA systems, organizations need proper modification and maintenance throughout the life of SCADA systems. Service offerings, especially cybersecurity, are considered while customizing or modifying SCADA systems.

Process industry is expected to hold the largest size of the SCADA market in 2021.

Process industry is expected to account for the largest share of the SCADA market during 2021–2026. The rate of adoption of SCADA systems is high in process industries, owing to the rising pressure on manufacturers to optimize the cost and production processes. Increasing demand for real-time visibility of complex operations in industries such as oil & gas, chemicals, pharmaceuticals, metals and mining, and food & beverages is expected to drive the demand for SCADA systems in the process industry.

Top Key Players in SCADA Market:

• Schneider Electric,
• Emerson Electric,
• Rockwell Automation,
• ABB, Siemens,
• Honewell International,
• Mitsubishi Electric

APAC projected to grow at the highest CAGR of SCADA market from 2021 to 2026.

APAC is projected to hold the largest share of the SCADA market during the forecast period. APAC is the production hub for automation technologies due to the presence of major companies such as Yokogawa Electric, Mitsubishi Electric, and OMRON. Renewable energy, smart grids, water & wastewater, and transportation sectors are expected to drive the growth of the SCADA market in APAC. Automation is increasing in APAC because of the rising necessity for high-quality products, along with increased production rates.

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.

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MarketsandMarkets™ INC.
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Digital Signage Market Impact Analysis worth $27.8 Billion by 2026

Recent Developments in the Global Digital Signage Market