PRESS RELEASE

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.

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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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