Augmented Reality and Virtual Reality Sales Industry report focuses on the major drivers and restraints for the key players. It also provides granular analysis of the market share, segmentation, revenue forecasts and geographic regions of the market. The Augmented Reality and Virtual Reality Sales Industry research report is a professional and in-depth study on the current state of the Augmented Reality and Virtual Reality Sales Industry.
Computing trends and technology have taken a new dimension over last decade. This has changed the way of thinking, interacting and decision making of every individual. The recent advancements such as IoT, cloud computing, 3D printing, automation, advanced communication systems, artificial intelligence, Big Data, AR and VR and many others are the driving factors influencing the change in dynamics from living to running a business. AR and VR are the new age technologies which will change the practices in various industries.
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.
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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.
AR technology blends the virtual and real-world objects. With AR, users will be able to interact with virtual object and also will be able to distinguish between the real and virtual contents. AR has found more success within short period of time; this technology has been more adopted in consumer sector and is expected to surpass the VR market in near future.
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 AR and VR technologies.
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 global augmented reality and virtual reality 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.
The major restraints to the global AR and VR market include high hardware and deployment cost, limited awareness in various end-user industries is another limiting factor for the global augmented reality and virtual reality market. AR and VR have limited applications and major ones include entertainment, education and gaming. The number of consumers being catered are minimum in number, as AR and VR are still in the emerging phase and have limited reach to different requirements of the customers or enterprises.
North America is one of the prominent regions in AR and VR market which will contribute highest to the revenues globally due to high technological developments and considerable usage of AR & VR technology and products. The region is expected to lose the market share to APAC over the forecast period. Rapidly growing economies in Asia-Pacific (APAC) with significant number of hardware and software developers will pave the path for increasing adoption and propel the market for AR and VR.
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