Augmented Reality (AR) and Virtual Reality (VR) to 2025 – Global Analysis and Forecast by Technology, Components, and End-user Industry, AR and VR market is expected to grow at a CAGR of 41.2% during the forecast period 2017-2025 and accounts for US$ 130.01 Billion in the year 2025.
Key Market Players: Artoolworks, Augmented Pixels, EON Reality, Innovega, Kishino Limited, Laster Technologies, Layar B. V., Total Immersion, Vuzix Corporation and Zugara.
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The “Augmented Reality and Virtual Reality Market by Technology (AR and VR), by Components (Sensors, Semiconductor Components and Others), by End-User (Entertainment, Education, Automotive, Retail, Medical, and Others) – Global Forecast to 2025” The scope of study involves understanding on the factors responsible for this growth of AR and VR market along with the estimates and forecasts of the revenue and market share analysis and also spots the significant AR and VR players in the market and their key developments.
Smart phones are the must have digital devices today, they have changed the way we communicate, travel, design, run business, and many more. In recent years smartphones revolutionized the world, and still the ongoing R&Ds to launch advanced features, improved and more customer centric and enterprise level applications holds the market for years to go. AR and VR are the technologies which immerse the user into virtual world and allows to interact with the virtual objects being in real environment. The growing trends in smartphones and tablets applications will encourage more AR and VR content going ahead, and this is estimated to grow alongside the growth of AR and VR penetration in various enterprise applications such as advertisements, mass communication, sales and marketing, and gamification which are wide area of interest. The global AR and VR market is expected to grow from US$ 4.25 Billion in 2015 to US$ 130.01 Billion by 2025 reach.
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The global AR and VR market has been broadly segmented by technology i.e., AR and VR technologies. The market is further segmented by components which includes sensors and other semiconductor components. In addition to this the AR and VR market is bifurcated into on end-user industry such as entertainment, education. Industrial, medical, aerospace & defense, and retail among others. The VR segment holds major share of the global AR and VR market in 2015 and is estimated to lose its market share to AR technology segment by 2025. The market share of VR claimed for 82.1% of the total market revenue share in 2015.
Augmented Reality and Virtual Reality are growing at a high pace and becoming the next must have technology from individuals to enterprises. These technologies are expected to revolutionize the way people communicate, shop and do business. Some of the key examples of end-user industries which will be driving factors for these technologies are healthcare, retails, manufacturing, marketing and others.
The global AR and VR market is also bifurcated by regions such as North America, Europe, Asia Pacific, Middle East & Africa and South America. North America is estimated to dominate the market with highest share in 2015, the driving factors for this include high adoption rate of AR and VR applications in various industries as well the increasing interest of giants in AR and VR market such as Google, Inc., Microsoft Corporation, Facebook, Inc., and others. Hence, North America and Europe are considered to be the leaders of AR and VR market in 2015, however, APAC region is also expected to take over the market share and lead the AR and VR market by 2025. APAC is expected to record a maximum growth of 47.7% during 2016 to 2025.
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China being one of the key countries in APAC for technological developments will lead AR and VR market in APAC and is also expected to continue its dominance by growing at a CAGR of 55.3% through the forecast period from 2016 to 2025. China and other countries in APC such as Japan, Korea, etc. are expected to observe highest penetration of AR and VR due to increasing applications and adoption of AR and VR in industrial and manufacturing sectors.
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