Global Virtual Reality and Augmented Reality Market is Forecasted to Value Over US$ 61.55 Billion by 2026 end

  • 15 May 2019

The global virtual reality and augmented reality market is prognosticated to value over US$ 61.55 billion by the end of 2026 and record a CAGR of 41.30% during the forecast period of 2019 to 2026. 

Captivating technologies like virtual and augmented reality are gaining traction in e-commerce, healthcare, gaming, manufacturing, retail, etc. due to the digital immersive experience provided to its end users in a real-time environment. The emerging virtual reality applications utilize modern 3D visualization software and hardware to integrate digital content generating the artificial interactive world in real time which enables the users to gain vital insights about product and services. The virtual and augmented reality applications have proven to be trailblazers in meeting the training necessities for defence, aeronautical and healthcare sector. The intense investments in R&D activities by stakeholders and new investors is motivating the manufacturers to provide extraordinarily unique products.
All such factors are estimated to promote hightened growth of the virtual and augmented reality market registering a sustaining CAGR during the forecast term from 2019 to 2016.

Global Virtual and Augmented Reality Market Trends
•  Core disruptions aided with the frequent launch of VR and AR devices (for e.g. smart glasses), gaming consoles and mobile apps
•   Increased focus on the aesthetics of virtual and augmented reality based devices
•  Demand for products with a high degree of versatility, mobility, flexibility and unfussy usage of AR and VR devices
•  Mixed reality is projected to be the future of VR and AR technologies creating immense growth potential
•  Building a simulation-based environment infra for developers 
•  Strategic collaborations among market players to create a network of development platforms regardless of geographic locations

Global Virtual and Augmented Reality Market Challenges
• Product innovations highly rely on the advancement of the digital network and computational devices
• Potential physical and emotional wellbeing threats like anxiety, eyestrain and motion sickness
•   Absolute disconnect from the real-world environment with fully immersed AR and VR technologies for example fully immersed headsets can cause inhibition of real objects creating physical vulnerabilities 
•  Lack of skilled designers to produce effective 3D interface designs


By Offering: 
+ Hardware
  > Semiconductor Component
  > Sensors
+ Software
+ Virtual Reality Content Creation

By Technology:
+ Virtual Reality Technology 
+ Augmented Reality Technology 

By Device:
+ Virtual Reality Devices 
   > Gesture-Tracking Device
   > Head-Mounted Display
   > Projector & Display Wall
+ Augmented Reality Devices 
     > Handheld Device
     > Head-Mounted Display
     > Head-Up Display

The head-up display segment is estimated to grow at an attractive CAGR due to increased demand in the head mount and head up displays in automobile, aerospace and defence sector.3D media and 3 D blueprints are revolutionizing the real estate industry and majorly depend on display components.

By Application:
+ Virtual Reality Applications 
+ Augmented Reality Applications 

By Region:
+ Europe 
+ North America 
+ APAC 
+ Latin America
+ Rest of World
At present North America is projected to be the largest revenue generating segment due to the presence of IT service providers like Microsoft, Google, etc. A surge in adoption of VR and AR technologies as well as extensive investor base for commercial and military applications in the APAC region is forging the market growth at the skyrocket speed. Rest of the world, especially the middle east region is slowing pacing up with the adoption of advanced technologies of AR and VR applications in construction and ornamental sector.

Competitive Landscape: 
+ Tier 1 players- established companies in the market with a major market share 
+ Tier 2 players
+ Emerging players which are growing rapidly
+ New Entrants  

FutureWise Takeaways 
+ Growth prospects 
+ SWOT analysis
+ Key trends
+ Key data points affecting market growth 

Objectives of the Study:
+ To provide an exhaustive analysis on the global Virtual Reality and Augmented Reality Market by Offering, Component, by Technology, by Application and Region
+ To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
+ To evaluate and forecast micro-markets and the overall market 
+ To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East.
+ To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
+ Profiling of companies to evaluate their market shares, strategies, financials and core competencies 

 

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