DUBLIN, March eight, 2018 /PRNewswire/ —
The “Augmented Reality and Virtual Reality Market by Offering, Device Type, Application, and Geography – Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s providing.
The augmented reality market was valued at USD 11.14 Billion in 2018 and is predicted to succeed in USD 60.55 Billion by 2023, rising at a CAGR of 40.29% in the course of the forecast interval.
The rising funding within the AR market and growing demand from retail and healthcare sectors are the most important drivers for the augmented reality market.
The virtual reality market was valued at USD 7.90 Billion in 2018 and is predicted to succeed in USD 34.08 Billion by 2023, rising at a CAGR of 33.95% in the course of the forecast interval.
The straightforward availability of reasonably priced VR units, elevated use of HMDs in gaming and leisure, developments in know-how and digitization, and excessive investments in VR know-how are the key drivers of the VR market.
This report covers the augmented reality and virtual reality market on the idea of providing, know-how, software, system sort, and geography. The shopper software will lead the AR & VR market through the forecast interval. The use of augmented reality and virtual reality in gaming and sports activities & leisure will drive the AR and VR marketplace for the buyer software.
The augmented reality software program market would lead the general AR market by 2023. This is owing to the elevated use of smartphones, tablets, and different units for AR gaming. The virtual reality software program market is predicted to witness a excessive progress owing to wish of the content material creation within the VR area within the subsequent 5 years.
The head-mounted shows will maintain a serious share of the AR and VR market. Head-mounted shows are probably the most promising units to spice up the expansion of the AR and VR market. Augmented reality sensible glasses are main the augmented reality marketplace for head-mounted shows with their excessive demand for business, automotive, industrial, and healthcare purposes. The use of the augmented reality sensible glasses is predicted primarily in enterprise and industrial purposes, whereby sensible glasses are possible for use to extend the effectivity of staff and additionally guarantee extra security and satisfaction.
Virtual reality HMDs discover main purposes in gaming and leisure, healthcare, retail, and e-commerce sectors. There are many tier 1 gamers concerned within the virtual reality market. Oculus Rift, HTC Vive, Sony PlayStation VR, Samsung Gear VR, Google’s Daydream and Cardboard, Merge VR, and Carl Zeiss VR One, amongst others, are the main VR units within the virtual reality market.
The AR HUDs are doubtless for use primarily for navigation in airplanes and automotive. The info such because the roadmap and the velocity together with the opposite crucial particulars within the line of sight can be displayed on the windscreens and would assist the driving force to drive safely. The use of head-up shows for purposes comparable to automotive, and aerospace & protection would assist the market to develop at a better fee. The use of VR gesture monitoring in games and leisure is predicted to be the key driver for the expansion of the virtual reality gesture-tracking units market within the close to future. The use of gesture-tracking units in affected person care administration paves the trail for the excessive progress of those units within the healthcare software.
APAC is predicted to steer the AR and VR market when it comes to market measurement and is more likely to witness the very best progress fee out there by 2023. The improve in R&D in APAC and the rising acceptance of newer applied sciences within the area are the drivers for the AR and VR market.
- Increasing Demand for AR Devices in Patient Care Management, and Medical Training and Education
- Trend of Online Shopping has Increased the Demand for AR in Retail and E-Commerce
- Increased Interest of Tech Giants within the AR Market has Resulted in an Upsurge of Investment
- Limited User Interface (UI) Affecting Navigation Performance of AR Applications
- Limited Processing Power, Less Storage, and Restricted Size of Memory Card in Mobile Phones
- Varied Infrastructure Quality of Digital Network Will Restrain the Growth of AR
- Increasing Demand to Portray Digital Information Using AR in Architecture
- Opportunity within the Enterprise Industry With Increased Trend of Smart Manufacturing
- High Growth of the Travel and Tourism Industry Will Boost the Growth of the AR Market
- Overcoming Social Challenges to Increase the Adoption Rate
- Reconfiguration of Applications for Different Platforms
- Penetration of Hmds within the Gaming and Entertainment Sector
- Huge Investments within the VR Market
- Advancement of Technology and Growing Digitization
- Availability of Affordable VR Devices
- Display Latency and Energy Consumption Affect the Overall Performance of VR Devices
- Health Concerns Relating to Low Resolution and Lack of Movement
- Penetration of Hmds in Healthcare and Architectural Applications
- Use of VR in Aerospace & Defense for Training and Simulation
- Developing User-Friendly VR Systems
- Cyberglove Systems
- Eon Reality
- Firsthand Technology
- Infinity Augmented Reality
- Inglobe Technologies
- Leap Motion
- Magic Leap
- Marxent Labs
- Merge Labs
- Oculus VR (Facebook)
- Osterhout Design Group
- Samsung Electronics
- Sixense Entertainment
- Virtually Live
- Wikitude GmbH
For extra details about this report go to https://www.researchandmarkets.com/research/tvg4zb/94_63_billion?w=5
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SOURCE Research and Markets
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