Allied Market Research published a report, titled, “Augmented and Virtual Reality Market by Organization Size (Large Enterprises and Small & Medium Sized Enterprises), Application (Consumer and Enterprise), Industry Vertical (Gaming, Entertainment & Media, Aerospace & Defense, Healthcare, Education, Manufacturing, Retail, and Others): Global Opportunity Analysis and Industry Forecast, 2018–2025.” The research offers a detailed analysis of key segments, top impacting factors, driving forces & opportunities, market size & forecasts, and competitive intelligence. As per the report, the global augmented and virtual reality market is expected to reach $571.42 billion by 2025, from $11.35 billion in 2017, registering a CAGR of 63.3% from 2018 to 2025.
Ever-expanding gaming community, rise in penetration of smartphones, and cost-efficient benefits related to augmented & virtual reality solutions are expected to drive the growth in the market. However, lack of good user interface design limits the growth in the industry. Conversely, advancements in technology and rise in adoption by enterprises create new pathways in the market.
Consumer segment to lead in terms of revenue by 2025
The consumer segment held the major share in the global augmented and virtual reality market in 2017, owing to surge in adoption of AR/VR solutions by individual users. However, the enterprise segment is expected to register the highest growth rate during the forecast period.
Gaming segment to dominate throughout the forecast period
The gaming segment contributed to the largest share in terms of revenue in 2017 and is estimated to maintain its dominance during the forecast period, owing to the upsurge of the mobile gaming industry. The research also analyzes industry verticals such as entertainment & media, healthcare, aerospace & defense, manufacturing, education, retail, and others.
North America to hold the largest market share by 2025
North America held the highest market share in terms of revenue in 2017, owing to rise in adoption of novel technologies and presence of leading augmented & virtual reality companies. This region is expected to maintain its dominant position by 2025. However, Asia-Pacific is estimated to register the highest growth rate from 2018 to 2025, owing to increase in acceptance of technologically advanced solutions, surge in applications among end-use industries, and rise in penetration of smartphones in the emerging countries such as India.
Leading Market Players
Key players analyzed in the augmented and virtual reality market include Alphabet (Google Inc.), HTC, DAQRI, Magic Leap, Inc., Facebook, Osterhout Design Group, Microsoft Corporation, Sony, Samsung Electronics Co., Ltd., and Wikitude. They have implemented various strategies including joint ventures, collaborations, expansions, partnerships, mergers & acquisitions, and others to gain a strong position in the industry.
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