1. Market Research
  2. > Advanced IT
  3. > Virtual and Augmented Reality Market Trends
Augmented Reality and Virtual Reality Market by Offering, Device Type, Application And Geography - Global Forecast to 2023

Augmented Reality and Virtual Reality Market by Offering, Device Type, Application And Geography - Global Forecast to 2023

  • February 2018
  • 255 pages
  • ID: 5353246
  • Format: PDF
  • MarketsandMarkets

Summary

Table of Contents

Search Inside

Increasing demand for AR in healthcare and retail & e-commerce is the major driver for the augmented reality market
The augmented reality market was valued at USD 11.14 billion in 2018 and is expected to reach USD 60.55 billion by 2023, growing at a CAGR of 40.29% during the forecast period. The increasing demand for AR devices in healthcare, growing demand for AR in retail and e-commerce, and rising investment in the augmented reality market are the major drivers for the augmented reality market. The limited user interface (UI) affecting the navigation performance of AR applications, limited processing power, less storage, and restricted size of the memory card in mobile phones, and varied infrastructure quality of digital network will restrain the growth of AR.

Increasing use of VR in gaming and entertainment is the major driver for the virtual reality market
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.

Augmented reality and virtual reality market for the head-mounted displays is expected to grow at a high rate during the forecast period
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.

Augmented reality market for enterprise application is expected to witness high growth during the forecast period
Augmented reality is used in enterprises for training personnel, providing information about the industrial facility, remodeling and redesigning, and industrial simulations.The enterprise applications would witness a high growth for HMDs in the near future.

The use of HMDs in the manufacturing setups is the major driver for the growth of enterprise application in the augmented reality market.

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, smartphones, and tablets.

In all these game types, virtual reality is used to enhance a user’s gaming experience.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key experts in the augmented reality and virtual reality industry.

The breakup of the profiles of primary participants has been shown below:
• By Company Type: Tier 1 = 36%, Tier 2 = 44%, and Tier 3 = 20%
• By Designation: C-Level Executives = 17%, Directors = 44%, and Others = 39%
• By Region: North America = 35%, Europe = 32%, APAC = 21%, South America = 7%, Middle East & Africa = 5%.

The report also profiles the key players in the augmented reality and virtual reality market. These key players are 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), and Vuzix (US).

Research Coverage
This research categorizes the augmented reality and virtual reality market on the basis of technology, device type, offering (hardware & software), application, and geography. The report also discusses major drivers, restraints, challenges, and opportunities for the market.

Reasons to Buy the Report

The report would help leaders/new entrants in this market in the following ways:
1. This report segments the augmented reality and virtual reality market comprehensively and provides the closest market size estimation for major industries across various regions.
2. The report would help stakeholders understand the pulse of the market and provide them with the information on drivers, restraints, challenges, and opportunities for the market.
3. This report would help stakeholders 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.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Microdisplay Market with COVID-19 Impact Analysis by Product, Technology, Resolution, Brightness, Industry And Region - Global Forecast to 2025

  • $ 4950
  • July 2020
  • 241 pages

Growing demands for wearable and HMD devices is anticipated to surge the adoption of microdisplay The global microdisplay market size is projected to grow from USD 712 million in 2020 to USD 3,609 million ...

  • APAC
  • Virtual And Augmented Reality
  • Augmented Reality
  • Industry analysis
  • Energy Consumption
  • Digital Camera Revenue

ref:plp2018

Reportlinker.com © Copyright 2020. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on