Augmented Reality (AR) and Virtual Reality (VR) Market to grow by USD 162.71 billion, Driven by Increasing Demand for AR & VR Technology - Technavio

The augmented reality (AR) and virtual reality (VR) market report offers a comprehensive
analysis of Technology (AR and VR) and Geography (North America, APAC, Europe,
MEA, and South America)

NEW YORK, July 27, 2022 /PRNewswire/ -- The augmented reality (AR) and virtual reality (VR) market size is expected to grow by USD 162.71 billion, progressing a CAGR of 46 % from 2020 to 2025, according to Technavio's latest market report. Technavio categorizes the global AR and VR market as a part of the global application software market within the global IT software market. The parent global IT software market covers companies that are engaged in developing and producing application and system software. It also includes companies offering database management software. The global application software market covers companies that are engaged in developing and producing software designed for specialized applications for the business or consumer market. It includes enterprise and technical software, as well as cloud-based software. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the augmented reality (AR) and virtual reality (VR) market during the forecast period.

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Augmented Reality (AR) And Virtual Reality (VR) Market: Segmentation Analysis

Technavio report extensively covers augmented reality (AR) and virtual reality (VR) market segmented by technology (AR and VR) and geography (North America, APAC, Europe, MEA, and South America).

• Revenue Generating Segment - The augmented reality (AR) and virtual reality (VR) market share growth by the AR segment will be significant for revenue generation. Factors such as new product (hardware and software) launches, growing adoption of AR in different application areas, and rising funding and investments in AR technology are attributed to the high growth rate of the AR segment. The extensive application of AR in various fields increases its demand. Moreover, several vendors manufacture hardware, such as headsets, smart glasses, and lenses for AR technology. The rise in popularity of AR technology is driving its use in various sectors such as enterprise, retail, healthcare, media and entertainment, and education.
• Regional Analysis - 34% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for augmented reality and virtual reality in APAC. Market growth in this region will be faster than the growth of the market in other regions. Factors such as the presence of key vendors; the growing gaming industry in Asia, especially in Japan, China, and India; and rising investments in AR and VR technologies to expand their application in different fields will facilitate the augmented reality (AR) and virtual reality (VR) market growth in APAC over the forecast period.

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Augmented Reality (AR) And Virtual Reality (VR) Market: Major Growth Drivers

The augmented reality (AR) and virtual reality (VR) markets report the following factors as major growth drivers during the forecast period:

• Increasing demand for AR and VR technology
• Surging product launches
• Rising number of M&A activities
• For elaborated information on the drivers along with the market challenges - Click Now!

Augmented Reality (AR) And Virtual Reality (VR) Market: Vendor Analysis

 The augmented reality (AR) and virtual reality (VR) market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. The augmented reality (AR) and virtual reality (VR) market report also offers information on several market vendors, including Alphabet Inc., Facebook Inc., HP Inc., HTC Corp., Magic Leap Inc., Microsoft Corp., Samsung Electronics Co. Ltd., Snap Inc., Sony Corp., and Toshiba Corp. among others.

• Alphabet Inc.-The company offers AR and VR under the brand name Google AR & VR.
• To know about all major vendor offerings - Click Now!

Get ready to achieve excellent business outcomes from this exclusive Augmented Reality (AR) And Virtual Reality (VR) Market report by Technavio. The report will include highlights of the overall market which includes frequently asked questions such as -

• What are historical revenue figures and estimated revenue figures as well as CAGR during the forecast timeframe?
• What is the current trend taking place in the market space?
• Which are business tactics that will influence competitive scenarios along with defining the growth potential of the market?
• What are market drivers, restraints, and challenges impacting demand & growth of the market?
• Which regions & segments will garner massive revenue and emerge as market leaders in upcoming years?

The competitive scenario provided in the Augmented Reality (AR) And Virtual Reality (VR) Market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.Don't wait, Make a strategic approach & boost your business goals with our Augmented Reality (AR) And Virtual Reality (VR) Market Forecast Report -  Buy Now!

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Table of Content

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2020
• Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

• Five forces summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Technology

• Market segments
• Comparison by Technology
• AR - Market size and forecast 2020-2025
• VR - Market size and forecast 2020-2025
• Market opportunity by Technology

Customer landscape

• Overview

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• North America - Market size and forecast 2020-2025
• APAC - Market size and forecast 2020-2025
• Europe - Market size and forecast 2020-2025
• MEA - Market size and forecast 2020-2025
• South America - Market size and forecast 2020-2025
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• Alphabet Inc.
• Facebook Inc.
• HP Inc.
• HTC Corp.
• Magic Leap Inc.
• Microsoft Corp.
• Samsung Electronics Co. Ltd.
• Snap Inc.
• Sony Corp.
• Toshiba Corp.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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