Global Augmented Reality and Virtual Reality Apps Market is majorly driven by the increasing demand for AR and VR technology in different fields and industries during the forecast period
Published Date | 2019 November 22
According to BlueWeave Consulting, the Global Augmented Reality and Virtual Reality Apps Market is projected to grow at a significant rate during the
forecast period. The augmented reality market was valued approximately at USD
billion in the year 2018 and is anticipated to reach the value of USD billion
by the end of the year 2025, by growing at a CAGR of 49.7% during the forecast
period. On the other hand, the virtual reality market was valued approximately
at USD billion in 2018 and is expected
to reach USD billion by the end of the year 2025, growing at a CAGR of 33.8%
during the forecast period. The base year considered for this report is 2018,
and the forecast period considered is between 2019 and 2025.
The market is growing due
to several factors. Expansion of cell phones, for example, cell phones and
tablets will drive the AR market in a not so distant future by improving the
client experience relating to games and other stimulation applications. Despite
the fact that amusement holds a significant portion of the market during the
gauge time frame, while new applications in industrial, medical, automotive
sector and so forth will keep the organizations inspired by AR and VR
innovations.
Computing trends and
technology have taken another measurement over a decade ago. This has changed
the perspective, interfacing and basic leadership of each person. The ongoing
headways, for example, IoT, 3D printing, cloud computing, automation,
artificial intelligence, Big Data, advanced communication systems, AR and VR
and numerous others are the driving components affecting the adjustment in
elements from living to maintaining a business. AR and VR are the new age
advances that will change the practices in different ventures.
The
head-mounted displays segment from the application section holds a major share
in the Global Augmented Reality and Virtual Reality Apps Market during the
forecast period
The head-mounted displays
will hold a significant portion of the AR and VR market. Head-mounted displays
are the most encouraging gadgets to help the development of the AR and VR
market. Augmented reality smart glasses are driving the market for head-mounted
shows with their popularity for business, car, modern, and social insurance
applications. The utilization of the augmented reality smart glasses is normal
chiefly in big business and mechanical applications, wherein brilliant glasses
are probably going to be utilized to build the effectiveness of laborers and
furthermore guarantee more wellbeing and fulfillment. Computer-generated
reality HMDs discovers significant applications in gaming and simulation,
medicinal services, retail, and internet business areas. There are numerous
level 1 players engaged with the augmented reality and virtual reality
market.
Google's Daydream and
Cardboard, Merge VR, and Carl Zeiss VR One, Oculus Rift, HTC Vive, Sony
PlayStation VR, Samsung Gear VR, among others, are the major VR gadgets in the
Global Augmented Reality and Virtual Reality Apps Market.
North
American region holds a lion’s share in the Global Augmented Reality and
Virtual Reality Apps Market during the forecast period
North America is one of
the conspicuous locales in the AR and VR market which will contribute most
noteworthy to the incomes internationally because of high mechanical
improvements and impressive use of AR and VR innovation and items. The area is
relied upon to lose the piece of the overall industry to APAC over the figure
time frame. Quickly developing economies in Asia-Pacific (APAC) with a critical
number of equipment and programming engineers will clear the way for expanding
appropriation and push the market for AR and VR.
Global
Augmented Reality and Virtual Reality Apps Market: Competitive Analysis
Major players in the
augmented reality and virtual reality apps market include names like DAQRI LLC
(U.S.), Wikitude GmbH (Austria), Terminal Eleven (SkyView), HTC Corporation
(Taiwan), and Sony Corporation (Japan), Zapper Limited (U.S.), Google LLC (U.S.), Blippar.com (U.K.), EON
Reality Inc. (U.S.), Augmented Pixels Inc. (U.S.), HP Inc. (U.S.), Facebook
Inc. (U.S.), Samsung Group (South Korea), Microsoft Corporation (U.S.), among
others.
The in-depth analysis of
the report provides the growth potential, upcoming trends and statistics of Augmented
Reality and Virtual Reality Apps Market size & forecast. The report
promises to provide state-of-the-art technology of Augmented Reality and
Virtual Reality Apps Market and industry insights which help decision makers to
take sound strategic decisions. Furthermore, the report also analyzes the
market drivers and challenges and competitive analysis of the market.
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