Augmented Reality (AR) and Virtual Reality (VR) Market Expected to Secure Notable Revenue Share During 2020-2027

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List of Significant Manufacturers in the Augmented Reality (AR) and Virtual Reality (VR) Market include:

Google LLC
Microsoft Corporation
Oculus VR
Samsung Electronics
Sony Corporation
HTC Corporation
Magic Leap, Inc.
Wikitude GmbH
PTC Inc.
DAQRI
Apple Inc.

Augmented Reality (AR) and Virtual Reality (VR) Market Drivers and Restraints:

Growing in penetration of smartphones and connected devices in several application and technological development of the gaming industry are some drivers boosting the growth of the augmented and virtual reality market across the globe. Moreover, the increasing demand for augmented reality and virtual reality in the retail and e-commerce industry is further surging the market growth. Increasing demand for augmented reality devices in healthcare for patient care management & medical training and education, along with in retail/e-commerce as trend of online shopping is increasing, thereby leading to market growth. Rising penetration of head-mount displays in the gaming and entertainment sector, followed by growing digitalization, and availability of affordable virtual reality devices are fuelling the virtual reality market growth.

Increasing investment and funding in virtual reality and augmented reality by tech giants for the development of virtual reality and augmented reality solutions is further accelerating the global market growth. Growing trends of smart manufacturing, rising demand of augmented reality in architecture, increasing penetration of head mount in gaming, healthcare, and architecture application, along with rising use of virtual reality in aerospace & defense for training and simulation purpose, followed by integration of Artificial Intelligence (AI) & Machine Learning (ML) are projected to bolster the growth of the market over the forecast period. On the other hand, processing power, limited user interface, less storage of augmented reality devices, and health concern owing to low resolution and security concerns are hindering the market growth.

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Segmentation: Augmented Reality (AR) and Virtual Reality (VR) Market

Augmented Reality (AR) and Virtual Reality (VR) Market: By Offering

Hardware

Sensors

Accelerometer
Gyroscope
Magnetometer
Proximity Sensor

Semiconductor Component

Controller and Processor
Integrated Circuits

Displays and Projectors
Position Trackers
Cameras
Others

Software

AR Software

AR Remote Collaboration
Workflow Optimization
Documentation
Visualization
3D Modeling
Navigation

VR Content CreationOthers

Augmented Reality (AR) and Virtual Reality (VR) Market: By Device Type

Augmented Reality Devices

Head-Mounted Display

AR Smart Glasses
Smart Helmets

Head-Up Display
Handheld Device

Virtual Reality Devices

Head-Mounted Display
Gesture-Tracking Device

Data Gloves
Others

Projector & Display Wall

Augmented Reality (AR) and Virtual Reality (VR) Market: By Application

Augmented Reality Applications

Consumer

Gaming
Sports & Entertainment

Entertainment Applications
Museums (Archaeology)
Theme Parks
Art Gallery & Exhibitions

Commercial

Tourism & Sightseeing
E-Learning
Retail & E-Commerce

Jewelry
Beauty & Cosmetics
Apparel Fitting
Furniture & Lighting Design
Grocery Shopping
Footwear

Enterprise
Healthcare
Aerospace & Defense
Energy
Automotive
Others

Virtual Reality Applications

Consumer

Gaming and Entertainment

Sports

Commercial

Retail
Education and Training
Travel and Tourism
Advertising

Enterprise
Healthcare

Surgery
Patient Care Management
Fitness Management
Pharmacy Management
Medical Training and Education

Aerospace & Defense
Others

Automotive
Real Estate
Geospatial Mining

Augmented Reality (AR) and Virtual Reality (VR) Market: By Region

North America

United States of America
Canada

Asia Pacific

China
Japan
India
Rest of APAC

Europe

United Kingdom
Germany
France
Spain
Rest of Europe

Brazil
South Africa
Saudi Arabia
UAE
Rest of the world (remaining countries of the LAMEA region)

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