Augmented Reality and Virtual Reality Market Overview:
Augmented reality (AR) and virtual reality (VR) are technologies which stand at the core for providing experiences. Augmented reality involves the integration of unreal object or person in the real world.
On the other hand, virtual reality provides novel experiences which can be consumed through headsets. The global augmented reality and virtual reality market report by Market Research Future (MRFR) outlines the latest trends and happenings in the market in a step-by-step manner.
The global Augmented Reality and Virtual Reality Market can reach a value of USD 767.67 billion by 2025, asserts MRFR. It is projected to exhibit a CAGR above 73% from 2018 to 2025 (forecast period). High demand for immersive experiences by consumers is expected to create opportunities in the market. In addition, continuous evolution of headsets and launch of AR based games can push the demand in the market. This is exemplified by the success of Pokémon Go launched in 2016.
The growth in the gaming industry combined with the hunger of gamers for immersive real-world experiences is projected to propel the value of the augmented reality and virtual reality market. The hotel sector has also integrated AR into its experience to attract a higher clientele. For instance, Marriott Hotels’ Teleported gives the users of traveling to far-off destination without leaving the confines of the hotel room.
But adverse effects of immersive experiences may restrain market growth.
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Prominent names include Microsoft Corporation, Terminal Eleven, Sony Corporation, Google LLC, Blippar.com, Wikitude GmbH, awe.org Pty Ltd., HP Inc., EON Reality Inc., Samsung Group, DAQRI LLC, Augmented Pixels Inc., Zapper Limited, HTC Corporation, Virtalis Limited, Facebook Inc., and others. Acquisitions, mergers, and product launches are strategies deployed by these players to sustain their position in the augmented reality and virtual reality market.
The global augmented reality virtual reality market is segmented by product and application.
- By product, it is segmented into fully-immersive head mounted systems, semi-immersive projection system, and non-immersive systems. Non-immersive systems can lead the market and will continue its dominance till 2025.
- By application, it is segmented into media, tourism, education & training, social media, and video games. Video games are expected to attain a high CAGR to touch a value of USD 217.26 billion by 2025. The tourism application is projected to exhibit humongous growth due to inclination of customers for new experiences. The capacity of VR to provide thrilling and exhilarating adventures without the risk can drive the application growth. On the other hand, the education & training sector can exhibit 76.4% CAGR during the assessment period due to the potential of VR and AR in teaching kids and adults.
Geographically, the global augmented reality and virtual reality market is segmented into China, U.S., Japan, Southeast Asia, Europe, and South & Central America.
The U.S. holds the largest market share due to investments in research and development and manufacture of gaming equipment. Development of headsets combined with constant evolution of the software to function without glitches can bode well for the regional growth. The boom in the gaming sector and adoption of 5G technology for a 360 degree experience can peg its CAGR at 78.3% during the forecast period.
China can reach a valuation of USD 168.58 billion by 2025 due to development across industrial and infrastructure sectors. It can expect a CAGR of 65% during the forecast period.
Europe has a good global market standing and expects to experience a CAGR of 77.6% during the assessment period.
Yeppar, an AR developing Indian company, has revolutionized the food industry by designing AR menus for its customers. The menus contain a realistic image of the food to be served, its nutritional value, and calorific value cementing the decision of customers.
Table of Contents
1 Market Introduction
1.2 Scope of Study
1.2.1 Research objective
1.3 Market Structure
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List of Table
Table 1 Market Synopsis
Table 2 List of Assumptions
Table 3 Global Augmented Reality And Virtual Reality Market, By Product Type, 2013–2025 (Usd Billion)
Table 4 Global Augmented Reality And Virtual Reality Market, By Application, 2013–2025 (Usd Billion)
Table 5 Global Augmented Reality And Virtual Reality Market, By Region, 2013–2025 (Usd Billion)
List of Figure
Figure 1 Global Augmented Reality and Virtual Reality, Market Outlook 2013-2025
Figure 2 Global Augmented Reality and Virtual Reality Market: Market Structure
Figure 3 Global Augmented Reality and Virtual Reality Revenue (Usd Billion) Comparison, By Regions (2013 Vs 2017 Vs 2022 Vs 2025)
Figure 4 Global Augmented Reality And Virtual Reality, Market Growth Rate by Region (2014-2025)
Figure 5 Global Augmented Reality And Virtual Reality, Market Share (2013 Vs 2017 Vs 2025)
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