- 5 December 2019 17:43
Augmented and Virtual Reality Market :Worldwide Industry Analysis and New Market Opportunities Explored, Forecast to 2025
Augmented and virtual reality solutions are used to offer digital immersive user experience that can be used for entertainment and business applications among various industry verticals. Virtual reality is an extensive term for a multi-sensory computer-generated experience, which enables users to experience and interact with a simulated environment. On the contrary, augmented reality enhances the real world using digitally produced perceptual overlays. The global augmented and virtual reality market is anticipated to witness significant growth during the forecast period, owing to increase in penetration of smart devices and connected solutions.
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Development of the animation industry, increase in internet connectivity, and growth of the mobile gaming industry act as the key drivers of the global augmented and virtual reality market. In addition, increase in use of consumer electronic devices is expected to fuel the growth of the market. However, lack of effective user experience design and slow adoption of augmented and virtual reality solutions among underdeveloped economies are the major factors that impede the market growth. Conversely, technological advancements and rise in application areas among various industry verticals are expected to provide lucrative opportunities for market expansion.
The global augmented and virtual reality market is segmented based on application, organization size, industry vertical, and region. In terms of application, the market is bifurcated into consumer and enterprise. On the basis of organization size, it is fragmented into large enterprises and small & medium sized enterprises. Depending on industry vertical, it is segregated into gaming, entertainment & media, aerospace & defense, healthcare, education, manufacturing, retail, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global Augmented and virtual reality market is dominated by key players such as Google Inc., Sony, Magic Leap, Inc., HTC, Microsoft Corporation, Osterhout Design Group, Facebook, DAQRI, Samsung Electronics Co., Ltd., and Wikitude.
Key Benefits for Augmented and Virtual Reality Market:
The study presents an in-depth analysis of the global augmented and virtual reality market along with the current & future trends to elucidate the imminent investment pockets. Information about key drivers, restraints, and opportunities and their impact analysis on the market is provided in this study. Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the global augmented and virtual reality industry. The quantitative analysis of the global augmented and virtual reality market from 2017 to 2025 is provided to determine the market potential.
Augmented and Virtual Reality Key Market Segments:
By Organization Size
Small- & Medium-sized Enterprises
By Industry Vertical
Entertainment & Media
Aerospace & Defense