Augmented Reality and Virtual Reality Headset Market is expanding at a 37.8% CAGR between 2020 and 2030

The Global Augmented Reality and Virtual Reality Headset Market size is estimated to be USD 29.32 billion in 2019 and is predicted to reach USD 997.48 billion by 2030 with a CAGR of 37.8% from 2020-2030. Augmented Reality is a technology which offers the immense digital experience in the real world and provides real time experience to the consumer. However, Virtual Reality is a technology developed with the help of 3D programs and create artificial world which is totally different for the user as it is different from the reality. The augmented and virtual reality headsets are used in various industries for different purposes on a large scale and as the technology evolves there will be increase in the demand of these headsets.

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There have been various technological advancements coupled with increased adoption of these technologies on a daily basis in different industries are expected to promote the growth of augmented reality and virtual reality headset market over the forecast period.

Other factors include increased penetration of smart devices such as smartphones and others connected devices coupled with constant increased in gaming and entertainment industry are expected to further drive the growth of market. However, high cost of these headsets and lack of effective consumer experience due to the loopholes in designing are expected to hamper the growth of market. On the other hand, advancement in existing augmented and virtual reality technology is expected to create numerous opportunities in the augmented reality and virtual reality headset industry in near future.

Market Segmentations and Scope of the Study:

The global Augmented Reality and Virtual Reality Headset market share is analyzed on the basis of organization size, application, industry vertical, and geography. On the basis of organization size, the market is segmented into Large Enterprises and Small- & Medium-sized Enterprises. On the basis of application, the market is divided into Consumer and Enterprise. On the basis of industry vertical, the market is divided into Gaming, Entertainment & Media, Aerospace & Defense, Healthcare, Education, Manufacturing, Retail, and Others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America represents the developed markets and anticipated to hold the major market share owing to the increased adoption to advanced technology coupled with increase in gaming and entertainment industry. Moreover, wide applications and increased use smart devices are further expected to accelerate the growth of augmented reality and virtual reality headset market over the forecast period.

Asia Pacific is expected to show rapid growth with substantial increase in market share owing to the increase in gaming and entertainment industry with increased use of smart devices and technological advancement coupled with increase in disposable income is expected to support the market growth.

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The Augmented Reality and Virtual Reality Headset, which is highly competitive and fragmented, consists of a various market players. Some of the major market players include HTC Corporation, Samsung Group, Razer Inc., Avegant Corporation, Sony Corporation, Microsoft Corporation, Carl Zeiss AG, Facebook, Inc., Google, and LG Electronics among others.

There have been various developments taken place over the period of time and in upcoming future further developments will takes place which is expected to contribute the growth of augmented reality and virtual reality headset. For instance, in September 2019, Lenovo is going to launch Lenovo mirage solo in collaboration with marvel for the gaming purpose which is based on augmented reality.