Latest research report on “Augmented Reality and Virtual Reality Market by Offering (Hardware & Software), Device Type (HMD, HUD, Handheld Device, Gesture Tracking), Application (Enterprise, Consumer, Commercial, Healthcare, Automotive), and Geography – Global Forecast to 2023” now available at high quality database of ReportsnReports.com with market size, share, trends, competitive and statistical analysis.
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Top Companies profiled in the Augmented Reality and Virtual Reality Market:
· Sony (Japan)
· Oculus (US)
· Samsung (South Korea)
· Google (US)
· HTC (Taiwan)
· PTC (US)
· Microsoft (US)
· Wikitude (Austria)
· DAQRI (US)
· Zugara (US)
· Blippar (UK)
· Osterhout Design Group (US)
· Magic Leap (US)
· Upskill (US)
· Continental (Germany)
· Visteon (US)
· Eon Reality (US)
· Vuzix (US)
The Augmented Reality Market was valued at US$ 11.14 Billion in 2018 and is expected to reach US$ 60.55 Billion by 2023, growing at a CAGR of 40.29% during the forecast period. This report spread across 295 Pages, Profiling 18 Companies and Supported with 129 Tables and 58 figures is now available in this research.
The virtual reality market was valued at USD 7.90 billion in 2018 and is expected to reach USD 34.08 billion by 2023, growing at a CAGR of 33.95% during the forecast period. The high penetration of HMDs in gaming and entertainment, huge investments in the VR market, advancement of technology and digitization, and availability of affordable VR devices are the major drivers of the VR market. The health concerns relating to low resolution and lack of movement and display latency and energy consumption affecting the overall performance of VR devices are the major restraints in the VR market.
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The use of HMDs in the enterprises for instructions and training purposes is likely to boost the growth of HMDs in the AR market. AR smart glasses are expected to be mainly used HMDs in the augmented reality market. The major applications for VR HMDs have been gaming and entertainment, and are expected to dominate the market during the forecast period. The head-mounted devices from companies such as Sony, Oculus, HTC, Samsung, Google, TLC Alcatel, and Osterhout Design Group are already in use and have received an overwhelming response from the users.
“Virtual reality market for consumer application is expected to lead the market during the forecast period”
Virtual reality technology is used mainly for consumer applications such as gaming and entertainment. Virtual reality is used in various gaming types such as PC gaming, gaming consoles, Internet games, smart phones, and tablets. In all these game types, virtual reality is used to enhance a user’s gaming experience.
Target Audience for Augmented Reality and Virtual Reality Market:
· Raw Material and Manufacturing Equipment Suppliers
· Semiconductor Foundries
· Original Equipment Manufacturers (OEMs) (End-User Applications or Electronic Product Manufacturers)
· Product Manufacturers
· Original Design Manufacturers (ODMs) and OEM Technology Solution Providers
· Research Organizations
· Technology Standard Organizations, Forums, Alliances, and Associations
· Technology Investors
· Governments, Financial Institutions, and Investment Communities
· Analysts and Strategic Business Planners
· End Users
Reason to access this report:
· This report segments the augmented reality and virtual reality market comprehensively and provides the closest market size estimation for major industries across various regions.
· The report would helps take holders understand the pulse of the market and provide them with the information on drivers, restraints, challenges, and opportunities for the market.
· This report would helps take holders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, product launches and developments, partnerships, fund raising, and acquisitions.