Augmented Reality and Virtual Reality Market Size Report- Industry Growth Analysis

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Data Bridge Market Research analyses that the augmented reality and virtual reality market was valued at USD 2,094.08 billion in 2021 and is expected to reach the value of USD 139343.56 billion by 2029, at a CAGR of 69.00% during the forecast period.

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Data Bridge Market Research analyses that the augmented reality and virtual reality market was valued at USD 2,094.08 billion in 2021 and is expected to reach the value of USD 139343.56 billion by 2029, at a CAGR of 69.00% during the forecast period.

Explore Further Details about This Research Augmented Reality and Virtual Reality Market Report https://www.databridgemarketresearch.com/reports/global-augmented-reality-and-virtual-reality-market

Report Scope and Market Segmentation

REPORT METRIC

DETAILS

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Technology (Augmented Reality Technology, Virtual Reality Technology), Offering (Hardware, Software), Device Type (Augmented Reality, Head-mounted Displays, Head-up Displays, Virtual Reality, Head-mounted Displays, Gesture-tracking Devices Projectors and Display Walls), Vertical (Consumer Electronics, Media & Entertainment, Healthcare, Retail, Aerospace & Defence, Automotive, BFSI, IT & Telecommunication, Manufacturing, Education, Travel & Tourism, Real Estate)

Countries Covered

U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Switzerland, Netherlands, Russia, Turkey, Belgium, Rest of Europe, Japan, China, South Korea, India, Australia & New Zealand, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, South Africa, Israel, U.A.E., Saudi Arabia, Egypt, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America

Market Players Covered

Google (US), Sony Corporation (Japan), Apple Inc. (US), Samsung (South Korea), Microsoft (US), HTC Corporation (Taiwan), Oculus (US), PTC (US), Seiko Epson Corporation (Japan), Lenovo (China), Wikitude (Austria),  Blippar Group Limited (UK),) MAXST CO., Ltd. (South Korea), EON Reality (US), Uil VR Solutions BV(US), CyberGlove Systems Inc. (US), (US), Nintendo (Japan)

Opportunities

  • Industrial automation industry is expected to encourage the use of augmented reality and virtual reality market.
  • Increased investments in technological advancements and innovations
  • The significant demand for AR/VR from manufacturing industries
Augmented Reality and Virtual Reality Market Dynamics

Drivers

  • Surge in wide adoption of augmented reality and virtual reality in infotainment industry

Growing demand for head-mounted displays (HMDs) in gaming and entertainment, adoption of augmented reality and virtual reality market for marketing strategies, and increasing demand for AR/VR in the retail and e-commerce industry are key factors positively impacting the AR/VR market growth. Furthermore, rising demand for augmented and virtual reality devices in the manufacturing and healthcare sectors and increased investments and funding by key market players to develop AR/VR solutions are propelling market growth.

  • Importance of augmented reality in healthcare sector.

In the healthcare industry, augmented reality plays a critical role. AR can be used to show a surgeon a virtual view of a patient's body parts. This can assist the surgeon in performing minimally invasive surgeries. Augmented reality modelling and 3D visualisation are expected to benefit the healthcare sector. The use of augmented reality (AR) for improving fitness, teaching complex subjects to medical students, training doctors, managing pharmacies, and caring for and supporting patients after they leave the hospital is propelling the augmented reality and virtual reality market in this sector forward.

Opportunity

The industrial automation industry is expected to encourage augmented reality and virtual reality market to improve communication between self-monitoring devices, production machines, machine-to-machine communication (M2M), and the internet of things (IoT). The significant demand for AR/VR from manufacturing industries is expected to provide market participants with ample opportunities in the future.

Key questions answered in the Augmented Reality and Virtual Reality Market are: 

  • What is Augmented Reality and Virtual Reality Market?
  • What was the Augmented Reality and Virtual Reality Market size in 2022?
  • What are the different segments of the Augmented Reality and Virtual Reality Market?
  • What growth strategies are the players considering to increase their presence in Augmented Reality and Virtual Reality Market?
  • What are the upcoming industry applications and trends for the Augmented Reality and Virtual Reality Market?
  • What are the recent industry trends that can be implemented to generate additional revenue streams for the Augmented Reality and Virtual Reality Market?
  • What major challenges could the Augmented Reality and Virtual Reality Market face in the future?
  • What segments are covered in the Augmented Reality and Virtual Reality Market?
  • Who are the leading companies and what are their portfolios in Augmented Reality and Virtual Reality Market?
  • What segments are covered in the Augmented Reality and Virtual Reality Market?
  • Who are the key players in the Augmented Reality and Virtual Reality Market?

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