Global Augmented Reality and Virtual Reality Market Size & Share to 2027
Global Augmented Reality and Virtual Reality Market Size, Trends & Growth Opportunity By Application (Consumer, and enterprise), By Organization Size, By Industry (Gaming, Education, Manufacturing, Healthcare, Aerospace & Defense, Retail, and Others), and By Region and Forecast till 2027
Global Augmented Reality and Virtual Reality Market
The augmented reality is a type of technology which uses the existing user’s environment and overlays the digital or virtual information. The virtual reality is defined as a computer generated 3D environment which completely immerses end users in an artificial world without seeing the real-world. The augmented reality applications are developed on special 3D programs that enable developers to integrate digital content with real world in real time. Also, the virtual reality provides realistic user experience of artificial world in interactive simulated environment.
Market Drivers
The rise in penetration of smartphones and connected devices is expected to boost the global augmented reality and virtual reality market growth. Furthermore, growing demand for head mounted displays in gaming, and virtual reality for marketing strategies by organizations will positively influence the market growth. Also, the rise in demand for augmented reality, and virtual reality in e-commerce industry is projected to drive the market growth. Moreover, the increase in use of augmented reality devices in the healthcare industry and rise in investments and funding by key operating players will support the market growth. These technologies are immersive technologies which visualize a virtual surrounding either by using a device or over a platform.
Market Restraints
The limited user interface is expected to affect the navigation performance of augmented reality applications. Also, less storage, limited processing power and restricted size of memory card in mobile devices will limit the market growth.
Market Segmentation
The Global Augmented Reality and Virtual Reality Market is segmented into application such as Consumer, and enterprise, by organization size such as Large Enterprises, and Small & Medium Size Enterprises. Further, market is segmented into industry such as Gaming, Education, Manufacturing, Healthcare, Aerospace & Defense, Retail, and Others.
Market Key Players
Various key players are discussed in this report such as Google LLC, Blippar, EON Reality Inc., Augmented Pixels Inc., Hewlett-Packard Company, Wikitude GmbH, Terminal Eleven, Sony Corporation, Virtalis Limited, Microsoft Corporation, Samsung Group, Zapper Limited, awe.org Pty Ltd, HTC Corporation, PTC Inc., Magic Leap Inc., and Visteon Corporation, etc.
Market Taxonomy
By Application
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