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 rising investment in the AR market and increasing demand from retail and healthcare sectors are the major drivers for the augmented 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 easy availability of affordable VR devices, increased use of HMDs in gaming and entertainment, advancements in technology and digitization, and high investments in VR technology are the major drivers of the VR market.
This report covers the augmented reality and virtual reality market on the basis of offering, technology, application, device type, and geography. The consumer application will lead the AR & VR market during the forecast period. The use of augmented reality and virtual reality in gaming and sports & entertainment will drive the AR and VR market for the consumer application.
The augmented reality software market will lead the overall AR market by 2023. This is owing to the increased use of smartphones, tablets, and other devices for AR gaming. The virtual reality software market is expected to witness a high growth owing to need of the content creation in the VR space in the next 5 years.
The head-mounted displays will hold a major share of the AR and VR market. Head-mounted displays are the most promising devices to boost the growth of the AR and VR market. Augmented reality smart glasses are leading the augmented reality market for head-mounted displays with their high demand for commercial, automotive, industrial, and healthcare applications. The use of the augmented reality smart glasses is expected mainly in enterprise and industrial applications, wherein smart glasses are likely to be used to increase the efficiency of workers and also ensure more safety and satisfaction.
Virtual reality HMDs find major applications in gaming and entertainment, healthcare, retail, and e-commerce sectors. There are many tier 1 players involved in the virtual reality market. Oculus Rift, HTC Vive, Sony PlayStation VR, Samsung Gear VR, Google's Daydream and Cardboard, Merge VR, and Carl Zeiss VR One, among others, are the major VR devices in the virtual reality market.
- Cyberglove Systems
- Eon Reality
- Firsthand Technology
- Inglobe Technologies
- Leap Motion
- Magic Leap
- Marxent Labs
- Oculus VR (Facebook)
- Samsung Electronics
- Virtually Live
- Wikitude GmbH
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
For more information about this report visit https://www.researchandmarkets.com/research/qq837j/global_augmented?w=4