According to the new research report on "Augmented Reality and Virtual Reality Market
by Offering (Hardware & Software), Device Type (HMD, HUD, Handheld
Device, Gesture Tracking), Application (Enterprise, Consumer,
Commercial, Healthcare, Automotive), and Geography - Global Forecast to
2023", the augmented reality (AR) and virtual reality (VR)
market, the AR market is expected to grow from USD 11.14 Billion in
2018 to USD 60.55 Billion by 2023, at a CAGR of 40.29% between 2018 and
2023, whereas the VR market is expected to grow from USD 7.90 Billion
in 2018 to USD 34.08 Billion by 2023, at a CAGR of 33.95% between 2018
and 2023. 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.
Browse 129 tables and 58 figures spread through 249 pages and in-depth TOC on "Augmented Reality and Virtual Reality Market - Global Forecast to 2023"
Early buyers will receive 10% customization on reports.
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.
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.
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), and Vuzix (US).
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MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
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