![]() #4) Make more money with virtual and augmented reality content The report says that the main players in the AR and VR market are Alphabet Inc., Oculus VR, LLC, Microsoft Corporation, Qualcomm Technologies Inc., Intel Corporation, Himax Technologies Inc., Samsung Electronics Co. The growth in the Asia-Pacific market would be led by increased investment in the defense and commercial domains in the region.Īccording to this report, the market would expand as a result of the increase in industrialists and technological enhancements. However, the Asia-Pacific market witnessed the fastest growth during the forecast period. North America region was accounted for the majority of the share in the AR and VR industry last year, which is true so far. ![]() The largest demand for virtual reality applications is coming from commercial applications. The healthcare and retail domain of the economy will lead to the adoption growth of AR and VR.īetween AR applications and VR applications, AR-based consumer application has the largest share according to this report, more than the commercial, aerospace and defense, enterprise, healthcare, and others. However, the software market will witness a faster growth due to an increase in demand in the media and entertainment industry to meet needs such as AR-based simulating of games. In addition to technological development, the primary drivers for this growth will be the rapid growth in the adoption of tablets, computers, and smartphones, and the excessive concentration of major tech players in AR and VR worldwide.Ĭurrently, the hardware market leads the software market in terms of revenue. The industry will see the amalgamation of AR and VR to produce a mixed reality that will be implemented for prospective applications. The market will grow due to increasing acceptance of AR and VR, and responsiveness about the technology. It will reach 161.1 billion in revenue by 2025. #3) VR and AR are coming to your regular smartphones and tablets.Īccording to a report by Vnyz Research, the AR and VR market will see a 48.8% growth CAGR during the projected period 2020 – 2025. Nevertheless, the industry will continue to struggle due to the lack of effective user experience design and slow adoption in underdeveloped economies. North America continues to have the largest share of the VR and AR market but the Asia-Pacific market will expand the largest, with China, India, Japan, and South Korea experiencing the highest demand for head-mounted gaming device displays in the virtual reality market. It will reach $571 billion CAGR by 2025. This growth will mostly result from the continued use of smart devices, an increase in Internet connectivity, and growth in mobile gaming. The personal and consumer services will lead to this growth at $1.6 billion, followed by retail, and discrete manufacturing. AR is expected to overtake the VR market spending as early as this year or by the next year.Īccording to a report by Valuates, the VR and AR market is expected to grow at a CAGR of 63.3 percent between 20. ![]() ![]() Virtual and augmented reality hardware will comprise more than half of the projected spending. The below image displays a forecast of AR VR headset shipments in 2019–2023:ĪR and VR will be at the center of digital transformation and the spending of different companies and consumers will increase by an additional 80%, according to this report. AR and VR spending would reach $18.8 billion in 2020, an increase of 78.5% over the $10.5 billion, achieving a five-year annual growth rate (CAGR) of 77.0% to 2023. #1) Virtual Reality(VR) and Augmented Reality(AR) will multiply 21-fold from 2019 – 2022Īccording to research by the International Data Corporation (IDC) research, VR and AR market will reach 15.5 billion euros by 2022. The below image explains the potential of VR applications by category.
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