Augmented Reality and Virtual Reality Market Introduction
Virtual reality is a computer-generated recreation of the real world. It simulates users’ hearing and vision. Further, it can be experienced by wearing a VR headset such as Facebook’s Oculus. Virtual reality technology finds application in video & computer games, training & simulation, and 3D movies. While, augmented reality uses user’s environment and overlays the computer-generated or virtual content over it. Nowadays, augmented reality is becoming a mainstream technology and gaining traction among end users—such as public sector, telecom, media & entertainment, BFSI, and healthcare sector—at a rapid pace.
Market Drivers & Restraints
Increase in adoption of AR and VR technologies to develop video & computer games owing to increasing demand from gamer community is accelerating the market growth. Moreover, the rise in adoption of AR & VR technology-based applications and content in various end user verticals along with cost-efficient benefits offered by the technologies are projected to boost the market growth at a significant rate. However, lack of technological advancement in emerging regions; and lack of investment in research and development activities are projected to hinder the market growth during the forecast period.
Government organizations are inclined towards investing in augmented and virtual reality technologies to drive technology adoption in educational institutions. Moreover, prominent players in the market are focused towards improving AR and VR hardware and content to enhance customer experience.
The global augmented reality and virtual reality market is been segmented by platform, and application.
- PC (Personal Computer)
- Video Games
- Video entertainment and live events
Major region targeted in the global healthcare cyber security market are North America, Western Europe, Eastern Europe, Asia Pacific, and Middle East and Africa (MEA). Currently, Asia Pacific dominated the market in terms of expenditure on augmented reality and virtual reality hardware and content.
Augmented Reality and Virtual Reality Market Competitive Landscape
Prominent players in the market are inclined towards entering into the strategic agreement with and acquiring well-established players to expand their technological competencies and gain competitive advantage. For instance, in January 2017, Alphabet and AsusTek Computer Inc. signed a partnership agreement to enhance their virtual and augmented reality technology capabilities. Marxent Labs LLC, Magic Leap, Inc., Microsoft Corporation, Intel Corporation, Google Inc., Samsung Electronics Co., Ltd., Vuzix Corporation, Oculus VR, LLC, NVIDIA Corporation, and Qualcomm Inc.
The research study would provide an in-depth assessment of the augmented reality and virtual reality and include reliable analysis, insights, facts and industry-validated market estimation and projections, supplemented by appropriate assumptions, methodologies, and approaches. Insights and analysis on various market segments such as by platform, application, and region included in this research report scope.
Major Regions/Countries include:
- North America
- Western Europe
- United Kingdom
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific (APAC)
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa (MEA)
- North Africa
- South Africa
- Rest of MEA
This research report on augmented reality and virtual reality market would be produced using first-hand market information gathered from industry experts and major participants across the value chain, during primary research. It would provide broad view of current market trends, growth factors and competitive analysis.