Forecast for Augmented and Virtual Reality Market Size & Share 2020 is Expected to Reach USD 305 Billion by 2026: Facts & Factors
According to the [210+ Pages] research study; the global Augmented and Virtual Reality Market in 2019 was approximately USD 16 Billion. The market is expected to grow at a CAGR of 62% and is anticipated to reach around USD 305 Billion by 2026. Top market players are EON Reality, PTC, Osterhout Design Group, Upskill, Google, Samsung Electronics, Zugara, DAQRI, Wikitude and others.
New York, NY, Feb. 18, 2021 (GLOBE NEWSWIRE) — Facts and Factors have published a new research report titled “Augmented and Virtual Reality Market By Device Analysis (Head-Mounted Display (HMD), Handheld Device, Head-Up Display (HUD), Projector and Display Wall, Gesture-Tracking Device, Others), By Segment Analysis (Hardware, Software), By Application Analysis (Consumer, Commercial, Enterprise), and By Vertical Industry Segment Analysis (Entertainment & Media, Gaming, Aerospace & Defense, Manufacturing, Retail, Education, Healthcare): Global Industry Perspective, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends, and Forecasts, 2019–2026” .
“According to the research study, the global Augmented and Virtual Reality Market was estimated at USD 16 Billion in 2019 and is expected to reach USD 305 Billion by 2026. The global Augmented and Virtual Reality Market is expected to grow at a compound annual growth rate (CAGR) of 62% from 2019 to 2026”.
The augmented reality technology uses the present user environment and covers virtual content or the digital content over it and generates a three-dimensional image in the present atmosphere. Virtual reality is a 3D environment created by a computer, which engages end users in an artificial world. Special 3D programs are deployed in augmented reality applications, which enable designers to integrate digital content in real-time with the real world. Virtual reality provides a simulated abstract user experience of the artificial world in a synergistic environment.
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- Facts and Factors research methodology
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Key Questions Answered in this Report
1) What was the impact of COVID-19 on the Augmented and Virtual Reality Market?
2) What is the market size, share of the Augmented and Virtual Reality Market?
3) Who are the top market players in the Augmented and Virtual Reality Market?
4) What will be the future market of the Augmented and Virtual Reality Market?
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
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Augmented reality (AR) and virtual reality (VR) has maximum demand in the media and entertainment industry as it is utilized for numerous applications and has created a revolution. Increasing the use of AR/VR in various industries such as aerospace, construction, manufacturing, healthcare, gaming, etc. is encouraging the demand for AR/VR technologies. Augmented and virtual reality is majorly used in video games such as pokemon go, VR tank training, rollercoaster, etc. In recent years, the gaming industry has experienced significant growth, which, in turn, contributes to the growth of the augmented and virtual reality market. Moreover, augmented and virtual reality is also used in training and teaching. Augmented and virtual reality has been useful in delivering information to trainees, thus being increasingly used in the education sector. The development of augmented and virtual reality systems or software is a very complex and expensive process. This has restricted the use of augmented and virtual reality in various applications, such as business, manufacturing, industrial design, etc. In addition, high content expenses, limited hardware, and inadequate software for augmented and virtual reality is a major limitation for the adoption of augmented and virtual reality devices in industrial verticals. Thus restricting the growth of the augmented and virtual reality market. Autonomous cars are still a few years away from reality. However, increasing demand for passenger safety and driver convenience is anticipated to create opportunities for the augmented and virtual reality market. In the healthcare industry, augmented and virtual reality can be used to allow practitioners to train in a virtual environment. The demand for simulation applications in the healthcare industry is likely to create opportunities for the augmented and virtual reality market.
Top Market Players:
- Samsung Electronics
- Magic Leap
- Osterhout Design Group
- EON Reality
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Impact Analysis of COVID-19 Pandemic on Businesses: Know Short Term and Long Term Impact
Most of the businesses are facing a growing litany of business-critical concerns related to the coronavirus outbreak, including supply chain disruptions, a risk of a recession, and a potential drop in consumer spending. All these scenarios will play out differently across various regions and industries, making accurate and timely market research more essential than ever.
We at Facts and Factors ( http://www.fnfresearch.com ) understand how difficult it is for you to plan, strategize, or make business decisions, and as such, we have your back to support you in these uncertain times with our research insights. Our team of consultants, analysts, and experts has developed an analytical model tool for markets that helps us to assess the impact of the virus more effectively on the industrial markets. We are further implementing these insights into our reports for a better understanding of our clients.
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The devices segment of the augmented and virtual reality Market includes the projector and display wall, head-mounted display (HMD), gesture-tracking device, handheld device, head-up display (HUD), and others. Among these, HMD highly penetrated the market in 2019, it was esteemed at around USD 7 billion. The growing application of HMD for various purposes is driving its revenue share growth in the market.
By component, the market is divided into hardware and software. The hardware segment is expected to acquire major revenue by 2026 end. In 2019, the hardware segment market share was 52%.
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By application, the global augmented and virtual reality market is segmented into consumer, commercial, and enterprise. The consumer segment dominated the global augmented and virtual reality market, holding a 54% market share in 2019, and is anticipated to witness lucrative growth over the forecasted period.
By vertical, the global augmented and virtual reality market is classified into Entertainment & media, gaming, aerospace & defense, manufacturing, retail, healthcare, and others. Among the vertical segment, gaming dominated the global augmented and virtual reality market. Gaming accounted for 34% market share in 2019. The gaming augmented and virtual reality market is anticipated to witness the highest CAGR over the forecasted period.
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The report also offers an in-depth analysis of the market shares of each industry player and gives an outline of the market position of key players in the augmented and virtual reality market. Moreover, the study offers wide coverage of key strategic advances witnessed in the market such as new product launches, acquisitions & mergers, collaborations & joint ventures, funding & VC activities, agreements, partnerships, R&D activities, and regional expansion of key players of the augmented and virtual reality market.
The research study provides a critical assessment of the augmented and virtual reality industry by logically segmenting the market on the basis of device analysis, segment analysis, application analysis, vertical industry segment analysis, and regions. Based on the past, present, and future trends, all the segments were analyzed from the bottom up, and the market sizes have been estimated from 2020 to 2026. The regional segmentation of the augmented and virtual reality industry includes the holistic bifurcation of all the five major continents including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
By geography, North America dominated the global augmented and virtual reality market in 2019. North America constituted a 41% market share of the global augmented and virtual reality market, owing to the rising adoption of the augmented and virtual reality market in the gaming and healthcare industry.
Browse the full “Augmented and Virtual Reality Market By Device Analysis (Head-Mounted Display (HMD), Handheld Device, Head-Up Display (HUD), Projector and Display Wall, Gesture-Tracking Device, Others), By Segment Analysis (Hardware, Software), By Application Analysis (Consumer, Commercial, Enterprise), and By Vertical Industry Segment Analysis (Entertainment & Media, Gaming, Aerospace & Defense, Manufacturing, Retail, Education, Healthcare): Global Industry Perspective, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends, and Forecasts, 2019–2026” report at https://www.fnfresearch.com/augmented-and-virtual-reality-market-by-device-analysis
Key Insights from Primary Research
- According to the primary investigator operating in the global augmented and virtual reality market, the market was valued at USD 10 billion in 2019 and is expected to be valued at around USD 305 billion by the end of 2026.
- The augmented and virtual reality market is predicted to witness a significant growth of nearly 62% during 2020-2026.
- By device analysis, the head-mounted display segment was valued at around USD 7 billion in 2019 and is anticipated to grow in the future years due to the use of HMD in various applications such as gaming, military, and medical.
- By segment analysis, the hardware segment led the market with a share of 52 % attributed to use in various devices such as sensors, glass, and other accessories.
- On the basis of application analysis, the consumer segment led the market in 2019, and it was valued at USD 9 billion.
- On the basis of the industry vertical segment, in 2019, the gaming segment-headed the market with USD 5 billion in 2019 and is anticipated to witness major growth over the forecast period.
This report segments the augmented and virtual reality market as follows:
Global Augmented and Virtual Reality Market: By Device Analysis Segment
- Head-Mounted Display (HMD)
- Handheld Device
- Head-Up Display (HUD)
- Projector and Display Wall
- Gesture-Tracking Device
Global Augmented and Virtual Reality Market: By Segment Analysis
Global Augmented and Virtual Reality Market: By Application Analysis
Global Augmented and Virtual Reality Market: By Vertical Industry Segment Analysis
- Entertainment & Media
- Aerospace &Defense
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