DUBLIN–(BUSINESS WIRE)–The “AR and VR Market Research Report: By Type (AR, VR), Offering (Hardware, Software), Device Type (AR Devices, VR Devices), Application (Consumer, Commercial, Enterprise) – Global Industry Analysis and Growth Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.
The global augmented reality (AR) and virtual reality (VR) market is projected to account for a revenue of $1,274.4 billion in 2030, rising from $37.0 billion in 2019, progressing at a robust CAGR of 42.9% during the forecast period (2020-2030).
The rising penetration of smartphones and tablet computers, increasing technology adoption among enterprises, and surging focus of vendors on price reduction are the key factors leading to the growth of the market. Between AR and VR, the VR division accounted for the major share of the market in 2019.
The application of VR is rising in several industries, majorly gaming, and the prices of VR are declining, thereby leading to the increasing adoption of the technology. VR provided an immersive experience to consumers, which is why, companies in the gaming industry are incorporating these features into their services and products. The AR category is predicted to grow at a faster pace during the forecast period, owing to the various benefits offered by the technology.
On the basis of application, the AR and VR market is divided into enterprise, commercial, and consumer, out of which, the consumer division is predicted to hold the major share of the market in 2030. The rising awareness regarding AR and VR is the major reason for the growth of this division. The number of gamers across the globe is expected to rise in the coming years, which is projected to drive the demand for immersive and interactive gaming.
Geographically, the AR and VR market was dominated by North America during the historical period (2014-2019) and is predicted to hold the major share of the market during the forecast period as well. Within the region, the U.S. is leading the domain, owing to the presence of major companies in the country. In addition to this, the rising application of VR and AR in the healthcare and e-commerce sectors is also driving the growth of the regional domain.
The surging adoption of these technologies among enterprises is a key driving factor of the AR and VR market. The enterprise sector is one of the major targets for players in the domain. The potential of AR and VR technologies is huge in enterprises, as all key device manufacturers, solution providers, and app developers are targeting the sector. In addition to this, a lot of Fortune 500 businesses have started experimenting with VR and AR technologies, and few of them have already initiated pilot projects.
The surging penetration of tablet computers and smartphones is also a key driving factor of the AR and VR market. Smartphones are being considered the major hardware interface for VR and AR applications. Moreover, the number of smartphones is further predicted to reach 3.5 billion by 2020, which is a growth of 9.3% from 2019. Owing to this, AR and VR enterprises are focusing on these devices for expanding their footing in the industry.
In conclusion, the market is expanding due to the increasing adoption of AR and VR technologies in enterprises and rising penetration of smartphones.
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Currency Conversion Rates
2.6 Assumptions for the Study
Chapter 3. Executive Summary
3.1 Voice of Industry Experts/KOLs
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Type
4.1.1.1 AR
4.1.1.1.1 Marker-based AR
4.1.1.1.1.1 Passive marker
4.1.1.1.1.2 Active marker
4.1.1.1.2 Marker-less AR
4.1.1.1.2.1 Model-based tracking
4.1.1.1.2.2 Image-based processing
4.1.1.2 VR
4.1.1.2.1 Non-immersive
4.1.1.2.2 Semi- and fully immersive
4.1.2 By Offering
4.1.2.1 Hardware
4.1.2.1.1 Sensors
4.1.2.1.2 Cameras
4.1.2.1.3 Position trackers
4.1.2.1.4 Displays and projectors
4.1.2.1.5 Semiconductor components
4.1.2.1.6 Others
4.1.2.2 Software
4.1.2.2.1 SDKs
4.1.2.2.2 Cloud-based services
4.1.2.2.3 AR software functions
4.1.2.2.4 VR content creation
4.1.3 By Device Type
4.1.3.1 AR devices
4.1.3.1.1 HMDs
4.1.3.1.2 HUDs
4.1.3.1.3 Handheld devices
4.1.3.2 VR Devices
4.1.3.2.1 HMDs
4.1.3.2.2 Gesture-tracking devices
4.1.3.2.3 Projector and display walls
4.1.4 By Application
4.1.4.1 Consumer
4.1.4.1.1 Gaming
4.1.4.1.2 Sports and entertainment
4.1.4.2 Commercial
4.1.4.2.1 Offline education and e-learning
4.1.4.2.2 In-store retail and e-commerce
4.1.4.2.3 Tourism
4.1.4.3 Enterprise
4.1.4.3.1 Healthcare
4.1.4.3.2 Automotive
4.1.4.3.3 Aerospace and defense
4.1.4.3.4 Others
4.2 Value Chain Analysis
4.2.1 Component Suppliers
4.2.2 Technology Suppliers
4.2.3 Device Suppliers
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Growing focus of businesses on the aesthetics of AR and VR devices
4.3.1.2 Increasing investments by tech corporations and venture capitalists
4.3.1.3 Rising popularity of virtual playground applications
4.3.2 Drivers
4.3.2.1 Increasing penetration of smartphones and tablet computers
4.3.2.2 Soaring demand for AR and VR in offline retail and e-commerce
4.3.2.3 Rising technology adoption among enterprises
4.3.2.4 Growing focus of vendors on price reduction
4.3.2.5 Impact analysis of drivers on market forecast
4.3.3 Restraints
4.3.3.1 Potential health risks
4.3.3.2 Technical imperfections
4.3.3.3 Impact analysis of restraints on market forecast
4.3.4 Opportunities
4.3.4.1 Rising demand for gesture and haptic control
4.3.4.2 Advancements in technology
4.3.4.3 Integration of AR and VR to create MR
4.4 Impact of COVID-19 on AR and VR Market
4.5 Porter’s Five Forces Analysis
Chapter 5. Global Market Size and Forecast
5.1 By Type
5.1.1 AR Market, by Technology
5.1.1.1 Marker-based AR market, by type
5.1.1.2 Marker-less AR market, by type
5.1.2 VR Market, by Technology
5.2 By Offering
5.2.1 Hardware Market, by Type
5.2.2 Software Market, by Type
5.3 By Device Type
5.3.1 AR Devices Market, by Type
5.3.2 VR Devices Market, by Type
5.4 By Application
5.4.1 Consumer Application Market, by Type
5.4.2 Commercial Application Market, by Type
5.4.3 Enterprise Application Market, by Type
5.5 By Region
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. LATAM Market Size and Forecast
Chapter 10. MEA Market Size and Forecast
Chapter 11. Major Markets for AR and VR
11.1 U.S. AR and VR Market
11.2 U.K. AR and VR Market
11.3 Germany AR and VR Market
11.4 China AR and VR Market
11.5 Japan AR and VR Market
11.6 India AR and VR Market
Chapter 12. Competitive Landscape
12.1 List of Players and Their Offerings
12.2 Market Share Analysis of Key Players
12.2.1 Global Market Share Analysis
12.3 Product Benchmarking of Key Players
12.4 Competitive Benchmarking of Key Players
12.5 Strategic Developments in the Market
12.5.1 Mergers and Acquisitions
12.5.2 Product Launches
12.5.3 Partnerships
12.5.4 Geographic Expansions
12.5.5 Client Wins
12.5.6 Other Developments
Chapter 13. Company Profiles
13.1 Business Overview
13.2 Product and Service Offerings
13.3 Key Financial Summary
- Alphabet Inc.
- EON Reality Inc.
- Magic Leap Inc.
- PTC Inc.
- Wikitude GmbH
- Qualcomm Incorporated
- HTC Corporation
- DAQRI LLC
- Seiko Epson Corporation
- Vuzix Corporation
- Facebook Technologies LLC
- Himax Technologies Inc.
- Samsung Electronics Co. Ltd.
- Microsoft Corporation
- Sony Corporation
For more information about this report visit https://www.researchandmarkets.com/r/c36vx4
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