Augmented Reality and Virtual Reality Market Size Expected to Grow by USD 364,557.67 Million: 35% Growth from APAC – Technavio

NEW YORK, November 27, 2022 /PRNewswire/ — The Augmented Reality and Virtual Reality Market by Technology, Application and Geography – Forecast and Analysis 2023-2027 report was published by Technavio. Market growth is estimated to accelerate at a CAGR of 52.37% and register a gradual growth of US$364,557.67 million during the forecast period. The report provides a comprehensive analysis of regional growth opportunities, new product launches, latest trends and post-pandemic recovery of the global market. Download a Free Sample PDF Report

Regional analysis

By region, the global augmented reality and virtual reality market is segmented into APAC, North America, Europethe Middle East and Africaand South America. APAC is estimated to contribute 35% to the global market growth over the forecast period. Rising adoption of smartphones and increasing investment in AR and VR technologies in retail and healthcare sectors are driving the growth of the regional market.

Company Profiles

The Augmented Reality and Virtual Reality market report includes information on key products and recent developments from major vendors including:

• Alphabet Inc.: The company offers solutions for augmented reality and virtual reality experience that visually capture information and content as things greatly expand the means on devices that can help with daily activities such as finding information. information, shopping and self-expression.

• Apple Inc.: The company provides solutions for augmented reality and virtual reality experience that enhance the real-world environment with playful and immersive effects using LiDAR to sense depth.

• Augmented Pixels Inc.: The company offers augmented reality and virtual reality solutions that connect with remote colleagues working together over holograms to solve problems in real time.

• Blippar Ltd. : The company offers augmented reality and virtual reality solutions that contribute to better dissemination of information, faster knowledge transfer, modernized training methods, immediate access to remote expertise and an improved customer experience.

• CyberGlove Systems Inc.: The company offers solutions for augmented reality and virtual reality that use proprietary resistive bend sensing technology to precisely translate hand and finger movements into real-time digital joint angle data.

• Eon Reality Inc.

• HP Inc.

• HTC Corp.

• Innov Inc.

• To access more supplier profiles available with Technavio, buy the report!

The story continues

Market dynamics

The market is driven by factors such as growing demand for AR and VR technologies, product launches, and growing number of M&A activities. However, high development costs associated with AR and VR applications are hampering the market growth.

Competitive analysis

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the companies’ financial performance over the past few years, growth strategies, product innovations, new product launches, investments, and market share growth, among others. Request a sample

Market segmentation

• By application, the market is segmented into consumer and business. The consumer segment accounted for the largest share of the market in 2022.

• By geography, the market is segmented into APAC, North America, Europethe Middle East and Africaand South America. APAC held the largest market share in 2022.

Related reports:

The augmented reality in the retail market The study is a comprehensive report with in-depth qualitative and quantitative research assessing the current scenario and analyzing the growth of 39.0 and a CAGR of 41.7% with market share increasing by $9.24 billion during the forecast period 2021 to 2026. The use of AR technology to make advertising more effective is notably driving augmented reality in the growth of the retail market.

The augmented and virtual reality in the healthcare market share is expected to increase by $6.55 billion from 2021 to 2026, and the growth momentum of the market will accelerate at a CAGR of 29.13%. Rising demand for healthcare services is notably driving augmented and virtual reality in the healthcare market growth, although factors such as infrastructure and integration issues may hamper the market growth.

Technavio’s library includes over 17,000 reports, covering over 2,000 emerging technologies. Subscribe to our “Basic Plan” right now $5,000 and get lifetime access to Technavio Insights

What are the key data covered in this Augmented Reality and Virtual Reality market report?

• Market CAGR over the forecast period 2023-2027

• Detailed insights into the factors that will drive the Augmented Reality and Virtual Reality Market growth between 2023 and 2027

• Accurate estimation of the Augmented Reality and Virtual Reality market size and its contribution to the parent market.

• Accurate predictions on upcoming trends and changes in consumer behavior

• Growth of the augmented reality and virtual reality industry through North AmericaACPA, Europethe Middle East and Africaand South America

• An in-depth analysis of the market competitive landscape and detailed vendor information

• Comprehensive details of the factors that will challenge the growth of the Augmented Reality and Virtual Reality Market vendors

Contents:

1. Summary

2 Market landscape

3 Market sizing

4 Historical market size

5 Five forces analysis

6 Market Segmentation by Technology

7 Market Segmentation by Application

8 Customer Landscape

9 Geographic landscape

10 drivers, challenges and trends

11 Supplier landscape

12 Vendor Analysis

13 Appendix

About Us

Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market intelligence to identify opportunities in existing markets and potentials and assess their competitive positions in changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Manager
USA: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia: https://www.prnewswire.com/news-releases/augmented-reality-and-virtual-reality-market-size-to-increase-by-usd-364557-67-million -35 -growth-to-come-from-apac—technavio-301687233.html

SOURCETechnavio