Global Augmented & Virtual Reality market, to witness a 54% CAGR during the forecast period: Prominent Market Research

Prominent Market ResearchWoodridge, 2018 May (Press Release) – Global Augmented & Virtual Reality Market is valued at USD 12.36 Billion in the year 2017. Global Augmented & Virtual Reality market is further estimated to grow at a CAGR of 54.91% from 2018 to reach USD 170.84 Billion by year 2023. North America region holds the highest market share in 2017 and Asia Pacific region is considered as the fastest growing market in the forecasted period. At country level, U.S. is the biggest market in 2017 and it is projected to grow at a gradual pace in the coming years.

Alphabet (Google) Inc. (U.S), Microsoft Corporation (U.S), Apple Inc. (U.S), Qualcomm Inc. (U.S.), NVIDIA Corporation (U.S.), Samsung Electronics Co., Ltd. (South Korea), Oculus VR, LLC (U.S.) are some of the key players in the Augmented & Virtual Reality market. Rising research and development expenses to cater changing demand of end users, similarly growth strategies such as acquisition, merger and expansion of the distribution network were few techniques adopted by most of the Tier 1 and Tier 2 manufacturers in recent years.

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Key Market Players

Microsoft Corporation

Samsung Electronics Co., Ltd.

Qualcomm Inc.

Alphabet (Google), Inc.

Apple Inc.

NVIDIA Corporation

Oculus VR,

Flex VR Ltd.

Vuzix Corporation

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Drivers:

Growing use of AR/VR in healthcare industry

Restraints:

Loosing experience to actual reality

Opportunities:

Rising Investments in AR/VR industry

Challenges:

AR and VR creating cyber threat

The Software Components holds the highest market share with highest CAGR during the forecast period 2018- 2023. On the other hand, Head Mounted Display for Augmented and Virtual Reality is expected to grow at the highest CAGR during year 2018-2023. As Head Mounted Display has large application and it is widely used in medical, e-commerce and other vertical.

Key Benefits for Stakeholders

Augmented & Virtual Reality Manufacturers, Distributors and Retailers

Research and Consulting organization

Technology Standards Organizations, Forums, Alliances and Associations

End use industries, Regulatory bodies.

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By Technology

Augmented Reality Technology:

-Marker-Based Augmented Reality

-Markerless Augmented Reality

Virtual Reality Technology:

-Semi-Immersive & Fully-Immersive Technologies

-Non-Immersive Technology

By Component

Augmented Reality:

-Augmented Reality Hardware Component

-Augmented Reality Software Component

Virtual Reality:

-Virtual Reality Hardware Component

-Virtual Reality Software Component

By Device

Augmented Reality Devices:

-Head Mounted Display

-Handheld Device

-Head up Display

Virtual Reality Devices:

-Projector & Display Wall

-Head Mounted Display (HMD)

-Gesture Control Device

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By Application

Augmented Reality Applications:

-Aerospace & Defense

-Consumer

-Commercial

-Medical Verticals

-Others

Virtual Reality Applications:

-Commercial

-Consumer

-Medical

-Industrial

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