Global Augmented Reality and Virtual Reality Market 2024-2028

Global Augmented Reality And Virtual Reality Market 2024-2028

The augmented reality and virtual reality market is forecasted to grow by USD 442999.9 mn during 2023-2028, accelerating at a CAGR of 50.22% during the forecast period. The report on the augmented reality and virtual reality market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing demand for ar and vr technology, innovative ar and vr product launches, and increasing number of mergers and acquisitions activities.

Technavio's augmented reality and virtual reality market is segmented as below:

By Technology

• AR
• VR

By Application

• Consumer
• Enterprise

By Geographical Landscape

• North America
• APAC
• Europe
• Middle East and Africa
• South America

This study identifies the growing funding in startup ar and vr companies from investors as one of the prime reasons driving the augmented reality and virtual reality market growth during the next few years. Also, diverse applications of ar and vr technology and integration of extended reality (xr) will lead to sizable demand in the market.

The report on the augmented reality and virtual reality market covers the following areas:

• Augmented reality and virtual reality market sizing
• Augmented reality and virtual reality market forecast
• Augmented reality and virtual reality market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading augmented reality and virtual reality market vendors that include Alphabet Inc., Apple Inc., Augmented Pixels Inc., Blippar Ltd., CyberGlove Systems Inc., Eon Reality Inc., HP Inc., HTC Corp., Innovega Inc., Lenovo Group Ltd., Magic Leap Inc., Maxst Co. Ltd., Microsoft Corp., PTC Inc., Samsung Electronics Co. Ltd., Seiko Epson Corp., Toshiba Corp., Vuzix Corp., Wikitude GmbH, and Zugara Inc.. Also, the augmented reality and virtual reality market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.