DUBLIN--(BUSINESS WIRE)--The "Augmented Reality and Virtual Reality Market by Offering, Device Type, Application, and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
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.
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.
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.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Augmented Reality and Virtual Reality Market, By Technology
7 Augmented Reality and Virtual Reality Market, By Offering
8 Augmented Reality and Virtual Reality Market, By Device Type
9 Augmented Reality and Virtual Reality Market, By Application
10 Augmented Reality and Virtual Reality Market, Geographical Analysis
11 Competitive Landscape
12 Company Profiles
- Cyberglove Systems
- Eon Reality
- Firsthand Technology
- Infinity Augmented Reality
- Inglobe Technologies
- Leap Motion
- Magic Leap
- Marxent Labs
- Merge Labs
- Oculus VR (Facebook)
- Osterhout Design Group
- Samsung Electronics
- Sixense Entertainment
- Virtually Live
- Wikitude GmbH
For more information about this report visit https://www.researchandmarkets.com/research/dm5djr/augmented_reality?w=4