Augmented Reality and Virtual Reality Market Size to Increase by USD 364557.67 Million: 35% growth to originate from APAC

NEW YORK, Nov. 27, 2022 /PRNewswire/ — The Augmented Reality and Virtual Reality Market by Technology, Application, and Geography – Forecast and Analysis 2023-2027 report has been published by Technavio. Market growth is estimated to accelerate at a CAGR of 52.37% and register an incremental growth of USD 364557.67 million during the forecast period. The report provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market. Download A Free PDF Sample Report

Regional Analysis

By region, the global augmented reality and virtual reality market is segmented into APAC, North America, Europe, the Middle East and Africa, and South America. APAC is estimated to contribute 35% to the growth of the global market over the forecast period. The rising adoption of smartphones and increased investments in AR and VR technologies in the retail and healthcare sectors are driving the growth of the regional market.

Company Profiles

The augmented reality and virtual reality market report includes information on the key products and recent developments of leading vendors, including:

• Alphabet Inc.: The company offers solutions for augmented reality and virtual reality experience which allows taking in information and content visually as things dramatically expand the ways on devices which can help with everyday activities like searching for information, shopping, and expressing yourself.

• Apple Inc.: The company offers solutions for augmented reality and virtual reality experience which enhances the real-world environment with playful, immersive effects using LiDAR to sense depth.

• Augmented Pixels Inc.: The company offers solutions for augmented reality and virtual reality which helps to connect with remote colleagues working together on holograms to resolve issues in real-time.

• Blippar Ltd.: The company offers solutions for augmented reality and virtual reality which helps in better information delivery, faster knowledge transfer, modernized training methods, immediate access to remote expertise, and enhanced customer experiences.

• CyberGlove Systems Inc.: The company offers solutions for augmented reality and virtual reality which uses proprietary resistive bend-sensing technology to accurately transform hand and finger motions into real-time digital joint-angle data.

• Eon Reality Inc.

• HP Inc.

• HTC Corp.

• Innovega Inc.

• To gain access to more vendor profiles available with Technavio, buy the report!

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Market Dynamics

The market is driven by factors such as the increasing demand for AR and VR technology, product launches, and the increasing number of M&A activities. However, high development costs associated with AR and VR apps are hindering market growth.

Competitive Analysis

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share among others. Request a Sample

Market Segmentation

• By application, the market is segmented into consumer and enterprise. The consumer segment accounted for the largest share of the market in 2022.

• By geography, the market is segmented into APAC, North America, Europe, the Middle East and Africa, and South America. APAC held the largest share of the market in 2022.

Related Reports:

The augmented reality in retail market study is a comprehensive report with in-depth qualitative and quantitative research evaluating the current scenario and analyzing the growth of 39.0 and a CAGR of 41.7% with the market share increasing by USD 9.24 billion during the forecast period 2021 to 2026. The use of AR technology to make advertising more effective is notably driving augmented reality in retail market growth.

The augmented and virtual reality in healthcare market share is expected to increase by USD 6.55 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 29.13%. The growing demand for healthcare services is notably driving the augmented and virtual reality in healthcare market growth, although factors such as infrastructural and integration issues may impede the market growth.

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What are the Key Data Covered in this Augmented Reality And Virtual Reality Market Report?

• CAGR of the market during the forecast period 2023-2027

• Detailed information on factors that will drive the growth of the augmented reality and virtual reality market between 2023 and 2027

• Precise estimation of the size of the augmented reality and virtual reality market size and its contribution to the parent market.

• Accurate predictions about  upcoming trends and changes in consumer behavior

• Growth of the augmented reality and virtual reality industry across North America, APAC, Europe, the Middle East and Africa, and South America

• A thorough analysis of the market’s competitive landscape and detailed information about vendors

• Comprehensive details of factors that will challenge the growth of augmented reality and virtual reality market vendors

Table of contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Technology

7 Market Segmentation by Application

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

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