Augmented Reality and Virtual Reality Market to Reach US$ 130.01 Bn by 2025 – Global Analysis and Forecasts by Technology, Sensors & Components and Applications
Proliferation of mobile devices such as smartphones and tablets will drive the AR market in near future by enhancing the user experience pertaining to games and other entertainment applications. Although entertainment holds the major share of the market during the forecast period, while new applications in industrial, medical, automotive etc. will keep the companies interested in this technologies.
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Developments in AR applications and compact VR headsets, the adoption rate of these technologies in education and research industry for new techniques and procedures of training and development. AR & VR would also contribute considerably towards smart innovations in retail industry. Additionally, a substantial growth of this market is observed in infotainment industry, with availability of featured AR & VR devices with increased computational abilities, which will enhance the user interface in gaming and entertainment.
According to the new Market research study published by The Insight Partners, The Augmented Reality and Virtual Reality market is estimated to reach US$ 130.01 Bn by 2025 from US$ 4.25 Bn in 2015. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
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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.
North America and Europe dominate the global augmented reality and virtual reality market in 2015, however, APAC region is expected to take over the market share and lead by 2025. APAC is expected to record a maximum growth of 47.7% during 2016 to 2025.
Some of the key players of AR and VR market include DAQRI LLC, Augmented Pixels Co., EON Reality, Inc., Innovega, Inc., Total Immersion, Vuzix Corporation, Blippar, Oculus VR LLC, Microsoft Corporation and Google, Inc. among others.
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