Augmented & Virtual Reality Market by Enterprise (Small, Medium, Large), Technology ( AR and VR), Offering (Hardware, Software), Device Type (AR, VR Devices), Application (AR Application, VR Application) and Region - Global Forecast to 2028
The augmented reality market is expected to reach USD 71.2 billion by 2028 from 25.1 billion in 2023, at a CAGR of 23.2% during the 2023- 2028 period. The virtual reality market is expected to reach USD 29.6 billion by 2028 from 12.9 billion in 2023, at a CAGR of 18.0% during the 2023- 2028 period.
The retail and e-commerce sectors are witnessing a significant uptick in the adoption of Augmented Reality (AR) technology. This phenomenon can be attributed to a confluence of factors that are reshaping the way consumers engage with products and make purchasing decisions. One of the primary drivers behind the growing demand for AR in retail and e-commerce is the desire to provide customers with immersive and interactive shopping experiences. AR allows consumers to visualize products in their real-world environments before making a purchase, bridging the gap between online and in-store shopping experiences. This capability addresses a longstanding challenge of online shopping – the inability to physically interact with products. By superimposing virtual products onto the physical world, AR empowers consumers to assess factors such as size, color, and fit more accurately, leading to informed purchase choices and reduced product returns.
AR technology serves as a valuable tool for overcoming the limitations of physical retail spaces. Retailers can create virtual showrooms, allowing them to showcase a wider range of products than could be displayed in a brick-and-mortar store. This expands product offerings and enhances customer choices, contributing to an enriched shopping journey. Personalization also plays a crucial role in the adoption of AR in retail and e-commerce. AR applications can analyze customer preferences and provide tailored recommendations, leading to a more personalized shopping experience. This not only increases customer satisfaction but also drives sales by presenting customers with products that align with their individual tastes and needs.
The entertainment factor associated with AR is yet another driver. AR-enhanced shopping experiences are inherently engaging and shareable, creating a sense of excitement and novelty that draws in customers. Social media platforms amplify this effect, as users share their AR-powered shopping experiences, inadvertently promoting the brand and its products.
As AR technology continues to advance, its integration with retail and e-commerce is expected to become more seamless and sophisticated. This aligns with the overarching trend of enhancing customer convenience and engagement through technology. The growth in demand for AR within the retail and e-commerce sectors underscores the industry's commitment to redefining the shopping experience and leveraging innovative tools to meet evolving consumer expectations.
“Hardwar segment of virtual reality market to have the highest CAGR in the forecast period from 2023-2028.”
Virtual Reality (VR) technology relies on a combination of hardware components to create immersive, computer-generated environments. These components work together to track the user's movements, display 3D visuals, and provide a realistic sense of presence. The hardware segment of the virtual reality market is to grow at a CAGR of 19.1% in the forecast period from 2023-2028. Virtual Reality (VR) relies on a multifaceted hardware ecosystem: sensors like accelerometers, gyroscopes, and magnetometers track head movements and orientation; semiconductor components, including CPUs and GPUs, power the computational muscle behind rendering lifelike 3D graphics; displays, often OLED or LCD, provide stereoscopic visuals through VR headsets with lenses to enhance focus; projectors can expand VR into larger spaces; position trackers, such as external sensors or inside-out tracking cameras, pinpoint the headset's location; and cameras, both external and front-facing on headsets, capture real-world elements or track hand and controller movements. This comprehensive hardware synergy enables immersive VR experiences by delivering accurate motion tracking, compelling visuals, and a heightened sense of presence in virtual environments.
“Asia Pacific to record highest CAGR in Virtual reality market during the forecast period.”
Asia Pacific, encompassing China, Japan, India, South Korea, and the rest of the region, is undergoing significant shifts in technology adoption and advancement as an emerging economy. The presence of numerous display panel manufacturers in Asia Pacific is driving the adoption of cutting-edge technologies in the region.
Key contributors to the growth of the AR & VR market in Asia Pacific include the consumer electronics, retail, BFSI, healthcare, transportation, and sports and entertainment industries. These sectors hold immense potential for AR & VR due to rising consumer awareness and the increasing integration of new technologies, particularly in countries like China, India, and South Korea. High growth rates are anticipated in the healthcare, commercial, and consumer segments within the AR & VR market in Asia Pacific. The influx of market players is expected to further stimulate market expansion, particularly in the thriving commercial and consumer sectors. The availability of affordable VR headsets in APAC countries is facilitating accelerated market growth in the region.
E-commerce is gaining substantial traction among retailers in Asia Pacific, with China emerging as the world's largest e-commerce market. The robust demand for AR and VR devices and software from the commercial sector is anticipated to be a significant driver for the AR & VR market in Asia Pacific. Asia Pacific is a coveted market for manufacturers of cell phones, tablets, laptops, and televisions, with companies like Samsung and LG based in South Korea, and Sony, Sharp, and Panasonic headquartered in Japan. The region demonstrates the highest demand for consumer products such as smartphones, tablets, laptops, and TVs, propelled by the rapid growth of emerging economies like China and India, as well as positive growth trends in other Asia Pacific countries including Taiwan, Indonesia, Singapore, and Malaysia.
Beyond China, countries like Japan, South Korea, and India are proactively managing the pandemic with pre-emptive measures such as lockdowns and social distancing. Many Asia Pacific based companies have transitioned to remote work arrangements to mitigate the virus's spread. Market players rooted in Asia Pacific are expected to thrive, driven by the increased utilization of head-mounted displays (HMDs) in the healthcare and enterprise sectors.
“Consumer Applications in augmented and virtual reality for region Europe is expected to have the highest market share in the forecast period.”
The consumer segment consists of gaming and sports & entertainment applications. The entertainment applications include museums (archaeology), theme parks, art galleries, and exhibitions. AR technology offers remarkable results in terms of visual effects when used in gaming and sports broadcasts. The gaming sector has been an early adopter of new technologies; the recent additions to the list are 3D technology and AR. These technologies can be used to enhance the gaming experience.
In some AR games, players can create virtual objects and characters, and link those to defined locations in the real world. The players can then easily interact with those digital objects in the real world.
Virtual reality (VR) technology finds its primary utility in consumer-centric applications, with gaming and entertainment taking the lead. It spans diverse gaming platforms including PC gaming, gaming consoles such as PlayStation and Xbox, online gaming, and mobile gaming on smartphones and tablets. In these gaming realms, VR plays a pivotal role in elevating the user's gaming experience by immersing them in virtual worlds. To facilitate this immersion, a range of VR devices such as Head-Mounted Displays (HMDs), gesture control interfaces, and specialized controllers are readily available, empowering users to navigate and interact seamlessly within virtual environments. As the VR gaming market establishes itself, it is poised for rapid expansion, driven by increasing demand, the evolution of advanced VR hardware, and the declining costs associated with VR devices.
Beyond gaming, VR has seamlessly integrated into the entertainment sector, making appearances in films, television productions, musical experiences, artistic creations, literature, museums, galleries, and even theme parks. With a significant presence in cinematic history, VR has become familiar to audiences worldwide. Iconic films like TRON: Legacy, The Matrix, The Lawnmower Man, Disclosure, and Vanilla Sky have featured VR as a central theme, cementing its cultural presence. Today, companies like Oculus, New Deal Studio, and Jaunt are actively developing VR-based short films and immersive content, accessible through VR HMDs or specialized eyewear. Popular HMDs such as Samsung Gear VR, Oculus Rift, PlayStation VR, and HTC Vive have found their niche in diverse consumer applications, including virtual tours, museum experiences, and much more.
“Germany is expected to have the highest CAGR for virtual reality in the forecast period.”
Germany is expected to have the highest CAGR for the virtual reality market in the forecast period of 2023-2028. The consumer industry in Germany has been a pivotal driver of the nation's economic growth through its trade activities. Furthermore, ongoing innovation efforts within the automotive sector are set to further stimulate the expansion of the AR & VR market in Germany. Notably, Germany earned its position as one of the world's fastest-growing economies in 2017, strengthened by a combination of factors including increased government spending and austerity measures.
Germany's economic resilience is fortified by various measures, including governmental spending and fiscal discipline. In a concerted effort to boost the communication industry, key entities such as the Federal Ministry of Education and Research, the Federal Ministry of Economic Affairs and Energy, and the European Commission have initiated programs that provide funding for diverse AR/VR projects and advancements, with a particular focus on industrial and healthcare equipment applications. Germany ranks among the leading countries, alongside the US and China, in researching AR/VR technology.
The presence of AR companies such as Ubimax GmbH and REFLEKT GmbH significantly contributes to the growth of the AR market in Germany. Ubimax, a prominent AR solution provider in Europe, plays a pivotal role in various industrial applications, including order picking, quality checks, and assembly lines, and has also been involved in meta-glasses development. Government-backed initiatives supporting AR projects have propelled the rapid growth of the German AR market.
In May 2023, Meta partnered with BMW to seamlessly integrate real-time IMU (Inertial Motion Sensors) data from a BMW vehicle's sensor array into the tracking system of our Project Aria research eyewear. This integration of extra data enables the system to precisely determine the location of the glasses in relation to the car.
In February 2023, ENGAGE XR Holdings Plc, a virtual reality (VR) technology company and provider of virtual communications solutions in the metaverse, announced its partnership with Kia Germany to open the automaker’s first flagship dealership in the metaverse.
In November 2022, META announced a VR relaunch in Germany, next-gen XR power from Qualcomm. Qualcomm's Snapdragon 8 Gen 2 could serve as a blueprint for new XR chips and provide a decent performance boost for future standalone headsets.
In February 2022, Harman International, Samsung Electronics' subsidiary acquired Apostera, a German-based automotive technology company, to beef up the company's capabilities in augmented reality and virtual reality software solutions for vehicles.
The break-up of the profile of primary participants in the augmented and virtual reality market-
Research Coverage
The report segments the augmented and virtual reality market and forecasts its size based and region. The report also provides a comprehensive review of drivers, restraints, opportunities, and challenges influencing market growth. The report also covers qualitative aspects in addition to the quantitative aspects of the market.
Reasons to buy the report:
The report will help the market leaders/new entrants in this market with information on the closest approximate revenues for the overall augmented and virtual reality market and related segments. This report will help stakeholders understand the competitive landscape and gain more insights to strengthen their position in the market and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
The retail and e-commerce sectors are witnessing a significant uptick in the adoption of Augmented Reality (AR) technology. This phenomenon can be attributed to a confluence of factors that are reshaping the way consumers engage with products and make purchasing decisions. One of the primary drivers behind the growing demand for AR in retail and e-commerce is the desire to provide customers with immersive and interactive shopping experiences. AR allows consumers to visualize products in their real-world environments before making a purchase, bridging the gap between online and in-store shopping experiences. This capability addresses a longstanding challenge of online shopping – the inability to physically interact with products. By superimposing virtual products onto the physical world, AR empowers consumers to assess factors such as size, color, and fit more accurately, leading to informed purchase choices and reduced product returns.
AR technology serves as a valuable tool for overcoming the limitations of physical retail spaces. Retailers can create virtual showrooms, allowing them to showcase a wider range of products than could be displayed in a brick-and-mortar store. This expands product offerings and enhances customer choices, contributing to an enriched shopping journey. Personalization also plays a crucial role in the adoption of AR in retail and e-commerce. AR applications can analyze customer preferences and provide tailored recommendations, leading to a more personalized shopping experience. This not only increases customer satisfaction but also drives sales by presenting customers with products that align with their individual tastes and needs.
The entertainment factor associated with AR is yet another driver. AR-enhanced shopping experiences are inherently engaging and shareable, creating a sense of excitement and novelty that draws in customers. Social media platforms amplify this effect, as users share their AR-powered shopping experiences, inadvertently promoting the brand and its products.
As AR technology continues to advance, its integration with retail and e-commerce is expected to become more seamless and sophisticated. This aligns with the overarching trend of enhancing customer convenience and engagement through technology. The growth in demand for AR within the retail and e-commerce sectors underscores the industry's commitment to redefining the shopping experience and leveraging innovative tools to meet evolving consumer expectations.
“Hardwar segment of virtual reality market to have the highest CAGR in the forecast period from 2023-2028.”
Virtual Reality (VR) technology relies on a combination of hardware components to create immersive, computer-generated environments. These components work together to track the user's movements, display 3D visuals, and provide a realistic sense of presence. The hardware segment of the virtual reality market is to grow at a CAGR of 19.1% in the forecast period from 2023-2028. Virtual Reality (VR) relies on a multifaceted hardware ecosystem: sensors like accelerometers, gyroscopes, and magnetometers track head movements and orientation; semiconductor components, including CPUs and GPUs, power the computational muscle behind rendering lifelike 3D graphics; displays, often OLED or LCD, provide stereoscopic visuals through VR headsets with lenses to enhance focus; projectors can expand VR into larger spaces; position trackers, such as external sensors or inside-out tracking cameras, pinpoint the headset's location; and cameras, both external and front-facing on headsets, capture real-world elements or track hand and controller movements. This comprehensive hardware synergy enables immersive VR experiences by delivering accurate motion tracking, compelling visuals, and a heightened sense of presence in virtual environments.
“Asia Pacific to record highest CAGR in Virtual reality market during the forecast period.”
Asia Pacific, encompassing China, Japan, India, South Korea, and the rest of the region, is undergoing significant shifts in technology adoption and advancement as an emerging economy. The presence of numerous display panel manufacturers in Asia Pacific is driving the adoption of cutting-edge technologies in the region.
Key contributors to the growth of the AR & VR market in Asia Pacific include the consumer electronics, retail, BFSI, healthcare, transportation, and sports and entertainment industries. These sectors hold immense potential for AR & VR due to rising consumer awareness and the increasing integration of new technologies, particularly in countries like China, India, and South Korea. High growth rates are anticipated in the healthcare, commercial, and consumer segments within the AR & VR market in Asia Pacific. The influx of market players is expected to further stimulate market expansion, particularly in the thriving commercial and consumer sectors. The availability of affordable VR headsets in APAC countries is facilitating accelerated market growth in the region.
E-commerce is gaining substantial traction among retailers in Asia Pacific, with China emerging as the world's largest e-commerce market. The robust demand for AR and VR devices and software from the commercial sector is anticipated to be a significant driver for the AR & VR market in Asia Pacific. Asia Pacific is a coveted market for manufacturers of cell phones, tablets, laptops, and televisions, with companies like Samsung and LG based in South Korea, and Sony, Sharp, and Panasonic headquartered in Japan. The region demonstrates the highest demand for consumer products such as smartphones, tablets, laptops, and TVs, propelled by the rapid growth of emerging economies like China and India, as well as positive growth trends in other Asia Pacific countries including Taiwan, Indonesia, Singapore, and Malaysia.
Beyond China, countries like Japan, South Korea, and India are proactively managing the pandemic with pre-emptive measures such as lockdowns and social distancing. Many Asia Pacific based companies have transitioned to remote work arrangements to mitigate the virus's spread. Market players rooted in Asia Pacific are expected to thrive, driven by the increased utilization of head-mounted displays (HMDs) in the healthcare and enterprise sectors.
“Consumer Applications in augmented and virtual reality for region Europe is expected to have the highest market share in the forecast period.”
The consumer segment consists of gaming and sports & entertainment applications. The entertainment applications include museums (archaeology), theme parks, art galleries, and exhibitions. AR technology offers remarkable results in terms of visual effects when used in gaming and sports broadcasts. The gaming sector has been an early adopter of new technologies; the recent additions to the list are 3D technology and AR. These technologies can be used to enhance the gaming experience.
In some AR games, players can create virtual objects and characters, and link those to defined locations in the real world. The players can then easily interact with those digital objects in the real world.
Virtual reality (VR) technology finds its primary utility in consumer-centric applications, with gaming and entertainment taking the lead. It spans diverse gaming platforms including PC gaming, gaming consoles such as PlayStation and Xbox, online gaming, and mobile gaming on smartphones and tablets. In these gaming realms, VR plays a pivotal role in elevating the user's gaming experience by immersing them in virtual worlds. To facilitate this immersion, a range of VR devices such as Head-Mounted Displays (HMDs), gesture control interfaces, and specialized controllers are readily available, empowering users to navigate and interact seamlessly within virtual environments. As the VR gaming market establishes itself, it is poised for rapid expansion, driven by increasing demand, the evolution of advanced VR hardware, and the declining costs associated with VR devices.
Beyond gaming, VR has seamlessly integrated into the entertainment sector, making appearances in films, television productions, musical experiences, artistic creations, literature, museums, galleries, and even theme parks. With a significant presence in cinematic history, VR has become familiar to audiences worldwide. Iconic films like TRON: Legacy, The Matrix, The Lawnmower Man, Disclosure, and Vanilla Sky have featured VR as a central theme, cementing its cultural presence. Today, companies like Oculus, New Deal Studio, and Jaunt are actively developing VR-based short films and immersive content, accessible through VR HMDs or specialized eyewear. Popular HMDs such as Samsung Gear VR, Oculus Rift, PlayStation VR, and HTC Vive have found their niche in diverse consumer applications, including virtual tours, museum experiences, and much more.
“Germany is expected to have the highest CAGR for virtual reality in the forecast period.”
Germany is expected to have the highest CAGR for the virtual reality market in the forecast period of 2023-2028. The consumer industry in Germany has been a pivotal driver of the nation's economic growth through its trade activities. Furthermore, ongoing innovation efforts within the automotive sector are set to further stimulate the expansion of the AR & VR market in Germany. Notably, Germany earned its position as one of the world's fastest-growing economies in 2017, strengthened by a combination of factors including increased government spending and austerity measures.
Germany's economic resilience is fortified by various measures, including governmental spending and fiscal discipline. In a concerted effort to boost the communication industry, key entities such as the Federal Ministry of Education and Research, the Federal Ministry of Economic Affairs and Energy, and the European Commission have initiated programs that provide funding for diverse AR/VR projects and advancements, with a particular focus on industrial and healthcare equipment applications. Germany ranks among the leading countries, alongside the US and China, in researching AR/VR technology.
The presence of AR companies such as Ubimax GmbH and REFLEKT GmbH significantly contributes to the growth of the AR market in Germany. Ubimax, a prominent AR solution provider in Europe, plays a pivotal role in various industrial applications, including order picking, quality checks, and assembly lines, and has also been involved in meta-glasses development. Government-backed initiatives supporting AR projects have propelled the rapid growth of the German AR market.
In May 2023, Meta partnered with BMW to seamlessly integrate real-time IMU (Inertial Motion Sensors) data from a BMW vehicle's sensor array into the tracking system of our Project Aria research eyewear. This integration of extra data enables the system to precisely determine the location of the glasses in relation to the car.
In February 2023, ENGAGE XR Holdings Plc, a virtual reality (VR) technology company and provider of virtual communications solutions in the metaverse, announced its partnership with Kia Germany to open the automaker’s first flagship dealership in the metaverse.
In November 2022, META announced a VR relaunch in Germany, next-gen XR power from Qualcomm. Qualcomm's Snapdragon 8 Gen 2 could serve as a blueprint for new XR chips and provide a decent performance boost for future standalone headsets.
In February 2022, Harman International, Samsung Electronics' subsidiary acquired Apostera, a German-based automotive technology company, to beef up the company's capabilities in augmented reality and virtual reality software solutions for vehicles.
The break-up of the profile of primary participants in the augmented and virtual reality market-
- By Company Type: Tier 1 – 15%, Tier 2 – 50%, Tier 3 – 35%
- By Designation Type: C Level – 45%, Director Level – 35%, Others – 20%
- By Region Type: North America- 45%, Asia Pacific – 12%, Europe – 35%, RoW – 8%,
Research Coverage
The report segments the augmented and virtual reality market and forecasts its size based and region. The report also provides a comprehensive review of drivers, restraints, opportunities, and challenges influencing market growth. The report also covers qualitative aspects in addition to the quantitative aspects of the market.
Reasons to buy the report:
The report will help the market leaders/new entrants in this market with information on the closest approximate revenues for the overall augmented and virtual reality market and related segments. This report will help stakeholders understand the competitive landscape and gain more insights to strengthen their position in the market and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
- Analysis of key drivers (Controlled environment agriculture (CEA) practices and the adoption of SSL technology receive robust backing from governments), restraints (High installation and setup cost), opportunities (Integration with sustainable architecture), and challenges (Limited regulations and standards) influencing the growth of the augmented and virtual reality market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the augmented and virtual reality market
- Market Development: Comprehensive information about lucrative markets – the report analyses the augmented and virtual reality market across varied regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the augmented and virtual reality market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players like Sony Group Corporation, HTC Corporation, META, ByteDance, Google, and many more.
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.2.1 INCLUSIONS AND EXCLUSIONS
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
FIGURE 1 AUGMENTED REALITY: MARKET SEGMENTATION
FIGURE 2 VIRTUAL REALITY: MARKET SEGMENTATION
1.3.2 REGIONAL SCOPE
FIGURE 3 AUGMENTED REALITY AND VIRTUAL REALITY MARKET: REGIONAL SCOPE
1.3.3 YEARS CONSIDERED
1.4 CURRENCY CONSIDERED
1.5 UNITS CONSIDERED
1.6 LIMITATIONS
1.7 STAKEHOLDERS
1.8 SUMMARY OF CHANGES
1.8.1 RECESSION IMPACT
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 4 AUGMENTED REALITY MARKET: RESEARCH DESIGN
FIGURE 5 VIRTUAL REALITY MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.1.2 Key secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 Key participants in primary interviews
2.1.2.3 Breakdown of primary interviews
2.1.2.4 Key industry insights
2.1.3 SECONDARY AND PRIMARY RESEARCH
2.2 MARKET SIZE ESTIMATION
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY SIDE): REVENUE GENERATED BY KEY EQUIPMENT MANUFACTURERS IN AUGMENTED REALITY AND VIRTUAL REALITY MARKET
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 (SUPPLY SIDE): ILLUSTRATION OF REVENUE ESTIMATION OF KEY MANUFACTURERS IN AUGMENTED REALITY AND VIRTUAL REALITY MARKET
FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 3 (DEMAND SIDE) —BOTTOM-UP ESTIMATION OF AUGMENTED REALITY MARKET BASED ON REGION
FIGURE 9 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 3 (DEMAND SIDE) —BOTTOM-UP ESTIMATION OF VIRTUAL REALITY MARKET BASED ON REGION
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Approach to derive market size using bottom-up analysis
FIGURE 10 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Approach to derive market size using top-down analysis
FIGURE 11 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
2.3 MARKET SHARE ESTIMATION
2.4 DATA TRIANGULATION
FIGURE 12 DATA TRIANGULATION
2.5 RISK ASSESSMENT
TABLE 1 RISK FACTOR ANALYSIS
2.6 RECESSION IMPACT
2.7 RESEARCH ASSUMPTIONS AND LIMITATIONS
2.7.1 ASSUMPTIONS
2.7.2 LIMITATIONS
3 EXECUTIVE SUMMARY
3.1 IMPACT OF RECESSION
FIGURE 13 AUGMENTED REALITY MARKET: IMPACT OF RECESSION
FIGURE 14 VIRTUAL REALITY MARKET: IMPACT OF RECESSION
FIGURE 15 SOFTWARE OFFERINGS TO ACCOUNT FOR LARGER SHARE OF AUGMENTED REALITY MARKET IN 2028
FIGURE 16 CONSUMER APPLICATIONS TO ACCOUNT FOR LARGEST SHARE OF AUGMENTED REALITY MARKET IN 2028
FIGURE 17 HEAD-MOUNTED DISPLAYS TO ACCOUNT FOR LARGEST SHARE OF VIRTUAL REALITY MARKET IN 2028
FIGURE 18 SEMI-IMMERSIVE AND FULLY IMMERSIVE TECHNOLOGIES TO DOMINATE VIRTUAL REALITY MARKET IN 2028
FIGURE 19 AUGMENTED REALITY MARKET IN ASIA PACIFIC TO GROW AT HIGHEST CAGR DURING THE FORECAST PERIOD
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES IN AUGMENTED REALITY MARKET
FIGURE 20 GROWING DEMAND FOR AUGMENTED REALITY IN HEALTHCARE AND ENTERPRISE APPLICATIONS TO DRIVE MARKET
4.2 ATTRACTIVE OPPORTUNITIES IN VIRTUAL REALITY MARKET
FIGURE 21 INCREASING USE OF VIRTUAL REALITY IN CONSUMER APPLICATIONS TO DRIVE MARKET
4.3 AUGMENTED REALITY MARKET, BY DEVICE TYPE
FIGURE 22 HEAD-MOUNTED DISPLAYS TO CAPTURE LARGER SHARE OF AUGMENTED REALITY MARKET IN 2028
4.4 AUGMENTED REALITY MARKET, BY HARDWARE COMPONENT
FIGURE 23 DISPLAY & PROJECTORS TO WITNESS HIGHER CAGR IN AUGMENTED REALITY MARKET, BY HARDWARE COMPONENT IN 2028
4.5 AUGMENTED REALITY MARKET, BY REGION
FIGURE 24 CHINA TO RECORD HIGHEST CAGR IN AUGMENTED REALITY MARKET FROM 2023 TO 2028
4.6 VIRTUAL REALITY MARKET, BY OFFERING
FIGURE 25 SOFTWARE OFFERINGS TO ACCOUNT FOR LARGER SHARE OF VIRTUAL REALITY MARKET IN 2028
4.7 VIRTUAL REALITY MARKET, BY APPLICATION
FIGURE 26 CONSUMER APPLICATIONS TO ACCOUNT FOR LARGEST SHARE OF VIRTUAL REALITY MARKET IN 2028
4.8 VIRTUAL REALITY MARKET, BY HARDWARE COMPONENT
FIGURE 27 DISPLAY & PROJECTORS TO ACCOUNT FOR LARGEST VIRTUAL REALITY MARKET SHARE, BY HARDWARE COMPONENT IN 2028
4.9 VIRTUAL REALITY MARKET, BY REGION
FIGURE 28 CHINA TO EXHIBIT HIGHEST CAGR IN VIRTUAL REALITY MARKET DURING FORECAST PERIOD
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS: AUGMENTED REALITY MARKET
FIGURE 29 AUGMENTED REALITY MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Increased use of AR devices in healthcare applications
5.2.1.2 High adoption of AR technology in retail and e-commerce applications
5.2.1.3 Amplifying capital investments to maximize AR technology potential
5.2.1.4 Remarkable adoption of AR technology in gaming and entertainment
5.2.1.5 Expanding AR developer ecosystem
FIGURE 30 AUGMENTED REALITY MARKET DRIVERS: IMPACT ANALYSIS
5.2.2 RESTRAINTS
5.2.2.1 Privacy and security concerns related to AR
5.2.2.2 Social isolation implications of excessive AR engagement
FIGURE 31 AUGMENTED REALITY MARKET RESTRAINTS: IMPACT ANALYSIS
5.2.3 OPPORTUNITIES
5.2.3.1 Increasing use of AR technology in architecture
5.2.3.2 Significant use of AR technology by travel and tourism companies to enhance customer engagement
5.2.3.3 Growing utilization of AR technology in advertising industry to create/improve brand awareness
FIGURE 32 AUGMENTED REALITY MARKET OPPORTUNITIES: IMPACT ANALYSIS
5.2.4 CHALLENGES
5.2.4.1 Latency in display and restricted field of vision
5.2.4.2 Delivering AR solutions coherent with diverse platforms having unique attributes
FIGURE 33 AUGMENTED REALITY MARKET CHALLENGES: IMPACT ANALYSIS
5.3 MARKET DYNAMICS: VIRTUAL REALITY MARKET
FIGURE 34 VIRTUAL REALITY MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.3.1 DRIVERS
5.3.1.1 Increased investments in virtual reality market
5.3.1.2 Rapid adoption of digital technologies in healthcare and gaming & entertainment sectors
5.3.1.3 Availability of budget-friendly virtual reality equipment
5.3.1.4 Significant adoption of HMDs across various sectors
5.3.1.5 Growing trend of remote working
5.3.1.6 Emergence of virtual classrooms offering immersive and engaging learning experiences
FIGURE 35 VIRTUAL REALITY MARKET DRIVERS: IMPACT ANALYSIS
5.3.2 RESTRAINTS
5.3.2.1 Latency issues and high energy consumption
5.3.2.2 Trade restrictions between US and China
FIGURE 36 VIRTUAL REALITY MARKET RESTRAINTS: IMPACT ANALYSIS
5.3.3 OPPORTUNITIES
5.3.3.1 Emerging applications of VR in telemedicine
FIGURE 37 VIRTUAL REALITY MARKET OPPORTUNITIES: IMPACT ANALYSIS
5.3.4 CHALLENGES
5.3.4.1 Creating VR systems with user-friendly interface
5.3.4.2 Addressing technological hurdles to enable users to fully connect to virtual environment
FIGURE 38 VIRTUAL REALITY MARKET CHALLENGES: IMPACT ANALYSIS
5.4 SUPPLY CHAIN ANALYSIS
FIGURE 39 SUPPLY CHAIN ANALYSIS: AUGMENTED REALITY AND VIRTUAL REALITY MARKET
5.4.1 R&D ENGINEERS
5.4.2 PRODUCT MANUFACTURERS
5.4.3 SYSTEM INTEGRATORS
5.4.4 MARKETING AND SALES TEAMS
5.4.5 END-USER INDUSTRIES
5.5 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
FIGURE 40 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
5.6 ECOSYSTEM MAPPING
TABLE 2 AUGMENTED REALITY AND VIRTUAL REALITY MARKET: ECOSYSTEM MAPPING
FIGURE 41 KEY PLAYERS IN AUGMENTED REALITY AND VIRTUAL REALITY MARKET
5.7 TECHNOLOGY ANALYSIS
5.7.1 AR SMART GLASSES
5.7.2 AR-POWERED DISPLAYS
5.7.3 VR-BASED MICRODISPLAYS
5.7.4 MOBILE AR
5.7.5 AR/VR-BASED MONITORS
5.7.6 NEAR-EYE DISPLAYS
5.7.7 WEBAR
5.7.8 METAVERSE
5.8 PORTER’S FIVE FORCES ANALYSIS
FIGURE 42 AUGMENTED REALITY AND VIRTUAL REALITY MARKET: PORTER’S FIVE FORCES ANALYSIS
TABLE 3 PORTER’S FIVE FORCES ANALYSIS WITH THEIR IMPACT
5.8.1 INTENSITY OF COMPETITIVE RIVALRY
5.8.2 THREAT OF NEW ENTRANTS
5.8.3 THREAT OF SUBSTITUTES
5.8.4 BARGAINING POWER OF BUYERS
5.8.5 BARGAINING POWER OF SUPPLIERS
5.9 PRICING ANALYSIS
5.9.1 AVERAGE SELLING PRICE OF HARDWARE COMPONENTS OFFERED BY KEY PLAYERS
TABLE 4 AVERAGE SELLING PRICE TREND OF TOP THREE KEY PLAYERS (USD), 2023
5.9.2 AVERAGE SELLING PRICE TREND, BY DEVICE TYPE, 2019–2028
5.10 CASE STUDY ANALYSIS
5.10.1 IMPROVING TEACHING AND LEARNING EXPERIENCE BY IMPLEMENTING VR TECHNOLOGIES
TABLE 5 LENOVO’S VIRTUAL REALITY CLASSROOM SOLUTION REVOLUTIONIZES HIGHER EDUCATION
5.10.2 TRANSFORMING TRAVEL EXPERIENCES WITH AR AND VR TECHNOLOGIES
TABLE 6 META AND BMW'S COLLABORATIVE VISION AIMS TO ELEVATE IN-CAR EXPERIENCES BY SEAMLESSLY INTEGRATING AUGMENTED REALITY AND VIRTUAL REALITY
5.10.3 TRANSFORMING EDUCATION WITH XR FOUNDATIONS FOR EDUCATORS
TABLE 7 VERIZON AND XR TERRA COLLABORATION TO PROVIDE INNOVATIVE LEARNING EXPERIENCE TO EDUCATORS
5.11 PATENT ANALYSIS
5.11.1 DOCUMENT TYPE
TABLE 8 PATENTS FILED AND GRANTED
FIGURE 43 PATENTS APPLIED AND ISSUED FROM 2013 TO 2022
5.11.2 PUBLICATION TREND
FIGURE 44 NUMBER OF PATENTS PUBLISHED EACH YEAR FROM 2013 TO 2022
5.11.3 JURISDICTION ANALYSIS
FIGURE 45 JURISDICTION ANALYSIS, 2013–2022
5.11.4 TOP PATENT OWNERS
FIGURE 46 TOP 10 PATENT OWNERS FROM 2013 TO 2022
TABLE 9 TOP 20 PATENT OWNERS IN LAST 10 YEARS
5.12 TRADE DATA ANALYSIS
FIGURE 47 COUNTRY-WISE EXPORT DATA FOR PRODUCTS CLASSIFIED UNDER HS CODE 9004, 2018–2022
TABLE 10 EXPORT SCENARIO FOR HS CODE 9004-COMPLIANT PRODUCTS, BY COUNTRY, 2018–2022 (USD THOUSAND)
FIGURE 48 COUNTRY-WISE IMPORT DATA FOR PRODUCTS CLASSIFIED UNDER HS CODE 9004, 2018–2022
TABLE 11 IMPORT SCENARIO FOR HS CODE 9004-COMPLIANT PRODUCTS, BY COUNTRY, 2018–2022 (USD THOUSAND)
5.13 REGULATORY LANDSCAPE
5.13.1 STANDARD AND REGULATIONS RELATED TO AUGMENTED REALITY AND VIRTUAL REALITY MARKET
TABLE 12 AUGMENTED REALITY AND VIRTUAL REALITY MARKET: REGULATORY FRAMEWORK
5.14 REGIONAL REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 13 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 14 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 15 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 16 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.15 KEY CONFERENCES AND EVENTS, 2023–2024
5.16 KEY STAKEHOLDERS AND BUYING CRITERIA
5.16.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 49 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP-THREE APPLICATIONS
TABLE 17 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR APPLICATIONS (%)
5.16.2 KEY BUYING CRITERIA
TABLE 18 KEY BUYING CRITERIA FOR APPLICATIONS
6 AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY ENTERPRISE
6.1 INTRODUCTION
6.2 SMALL ENTERPRISES
6.3 MEDIUM-SIZED ENTERPRISES
6.4 LARGE ENTERPRISES
7 AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY TECHNOLOGY
7.1 INTRODUCTION
7.2 AUGMENTED REALITY TECHNOLOGY
TABLE 19 COMPARISON BETWEEN MARKER-BASED AND MARKERLESS AUGMENTED REALITY
7.2.1 MARKER-BASED AUGMENTED REALITY
7.2.1.1 Passive marker
7.2.1.1.1 High preference for passive markers to drive market
7.2.1.2 Active marker
7.2.1.2.1 Increased use of LED-powered active markers in object tracking applications to support market growth
7.2.2 MARKERLESS AUGMENTED REALITY
7.2.2.1 Model-based tracking
7.2.2.1.1 Advancements in model-based tracking through camera movements and light dynamics to drive market
7.2.2.2 Image processing-based tracking
7.2.2.2.1 Expanding landscape of image processing-based tracking with optical scanners and cameras to drive market
7.2.3 ANCHOR-BASED AUGMENTED REALITY
7.2.3.1 Rising adoption of anchor-based augmented reality to overlay virtual images in real world to boost segmental growth
7.3 VIRTUAL REALITY TECHNOLOGY
FIGURE 50 SEMI IMMERSIVE- AND FULLY IMMERSIVE TECHNOLOGIES TO LEAD VIRTUAL REALITY MARKET IN 2028
TABLE 20 VIRTUAL REALITY MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)
TABLE 21 VIRTUAL REALITY MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION)
7.3.1 NON-IMMERSIVE TECHNOLOGY
7.3.1.1 Growing use of non-immersive technology in developing virtual reality software to drive market
7.3.2 SEMI-IMMERSIVE AND FULLY IMMERSIVE TECHNOLOGY
7.3.2.1 High level of immersion offered by fully immersive technology to boost demand
8 AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY OFFERING
8.1 INTRODUCTION
FIGURE 51 AUGMENTED REALITY MARKET FOR HARDWARE TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
TABLE 22 AUGMENTED REALITY MARKET, BY OFFERING, 2019–2022 (USD MILLION)
TABLE 23 AUGMENTED REALITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)
FIGURE 52 VIRTUAL REALITY MARKET FOR SOFTWARE TO REGISTER HIGHER MARKET SHARE
TABLE 24 VIRTUAL REALITY MARKET, BY OFFERING, 2019–2022 (USD MILLION)
TABLE 25 VIRTUAL REALITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)
8.2 HARDWARE
FIGURE 53 DISPLAY & PROJECTORS TO HOLD LARGEST SHARE OF AUGMENTED REALITY MARKET IN 2028
TABLE 26 AUGMENTED REALITY MARKET, BY COMPONENT, 2019–2022 (USD MILLION)
TABLE 27 AUGMENTED REALITY MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
FIGURE 54 DISPLAYS & PROJECTORS TO WITNESS HIGHEST CAGR IN VIRTUAL REALITY MARKET FROM 2023 TO 2028
TABLE 28 VIRTUAL REALITY MARKET, BY COMPONENT, 2019–2022 (USD MILLION)
TABLE 29 VIRTUAL REALITY MARKET, COMPONENT, 2023–2028 (USD MILLION)
8.2.1 SENSORS
8.2.1.1 Increased use of sensors to detect and capture motions, velocity, magnetic fields, and presence of objects to drive market
8.2.1.1.1 Accelerometers
8.2.1.1.2 Gyroscopes
8.2.1.1.3 Magnetometers
8.2.1.1.4 Proximity sensors
8.2.2 SEMICONDUCTOR COMPONENTS
8.2.2.1 Significant role of controllers in smartphones and tablets to increase demand for augmented reality and virtual reality devices
8.2.2.1.1 Controllers and processors
8.2.2.1.2 Integrated circuits
8.2.3 DISPLAYS & PROJECTORS
8.2.3.1 Displays & projectors to witness fastest growth rate during forecast period
8.2.4 POSITION TRACKERS
8.2.4.1 Precise and stable object placement offered by position trackers to boost demand
8.2.5 CAMERAS
8.2.5.1 Cameras to exhibit second-highest growth rate during forecast period
8.2.6 OTHERS
8.3 SOFTWARE
8.3.1 SDKS TO PLAY CRUCIAL ROLE IN AUGMENTED REALITY AND VIRTUAL REALITY SOFTWARE MARKET
8.3.1.1 Software development kits
8.3.1.2 Cloud-based services
FIGURE 55 CONSUMER APPLICATIONS TO CAPTURE LARGEST SHARE OF AUGMENTED REALITY MARKET FOR SOFTWARE IN 2028
TABLE 30 SOFTWARE: AUGMENTED REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 31 SOFTWARE: AUGMENTED REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
FIGURE 56 CONSUMER APPLICATIONS TO CAPTURE LARGEST SHARE OF VIRTUAL REALITY MARKET FOR SOFTWARE IN 2028
TABLE 32 SOFTWARE: VIRTUAL REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 33 SOFTWARE: VIRTUAL REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
8.3.2 AR SOFTWARE MARKET, BY FUNCTION
8.3.2.1 Surging adoption of AR software solutions in workflow optimization and remote collaboration applications to fuel segmental growth
8.3.2.1.1 Remote collaboration
8.3.2.1.2 Workflow optimization
8.3.2.1.3 Documentation
8.3.2.1.4 Visualization
8.3.2.1.5 3D modeling
8.3.2.1.6 Navigation
9 AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY DEVICE TYPE
9.1 INTRODUCTION
9.2 AUGMENTED REALITY DEVICES
FIGURE 57 AUGMENTED REALITY MARKET FOR HEAD- MOUNTED DISPLAY TO HAVE LARGER SHARE
TABLE 34 AUGMENTED REALITY MARKET, BY DEVICE TYPE, 2019–2022 (USD MILLION)
TABLE 35 AUGMENTED REALITY MARKET, BY DEVICE TYPE, 2023–2028 (USD MILLION)
TABLE 36 AUGMENTED REALITY MARKET, BY DEVICE TYPE, 2019–2022 (MILLION UNITS)
TABLE 37 AUGMENTED REALITY MARKET, BY DEVICE TYPE, 2023–2028 (MILLION UNITS)
9.2.1 HEAD-MOUNTED DISPLAYS
TABLE 38 HEAD-MOUNTED DISPLAYS: AUGMENTED REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 39 HEAD-MOUNTED DISPLAYS: AUGMENTED REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 40 HEAD-MOUNTED DISPLAYS: AUGMENTED REALITY MARKET, BY COMPONENT, 2019–2022 (USD MILLION)
TABLE 41 HEAD-MOUNTED DISPLAYS: AUGMENTED REALITY MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
9.2.1.1 Augmented reality smart glasses
9.2.1.1.1 Evolving landscape of augmented reality smart glasses to drive market
9.2.1.2 Smart helmets
9.2.1.2.1 Enhanced safety and real-time information provided by smart helmets to boost demand
9.2.2 HEAD-UP DISPLAYS
9.2.2.1 Need to improve aviation and automotive navigation to drive market
TABLE 42 HEAD-UP DISPLAYS: AUGMENTED REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 43 HEAD-UP DISPLAYS: AUGMENTED REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 44 HEAD-UP DISPLAYS: AUGMENTED REALITY MARKET, BY COMPONENT, 2019–2022 (USD MILLION)
TABLE 45 HEAD-UP DISPLAYS: AUGMENTED REALITY MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
9.3 VIRTUAL REALITY DEVICES
FIGURE 58 VIRTUAL REALITY MARKET FOR GESTURE-TRACKING DEVICES TO GROW AT HIGHEST CAGR BETWEEN 2023 AND 2028
TABLE 46 VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2019–2022 (USD MILLION)
TABLE 47 VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2023–2028 (USD MILLION)
TABLE 48 VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2019–2022 (MILLION UNITS)
TABLE 49 VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2023–2028 (MILLION UNITS)
9.3.1 HEAD-MOUNTED DISPLAYS
9.3.1.1 Increasing adoption of head-mounted display-based devices in gaming and entertainment applications to drive market
TABLE 50 VIRTUAL REALITY HEAD-MOUNTED DISPLAYS MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 51 HEAD-MOUNTED DISPLAYS: VIRTUAL REALITY, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 52 HEAD-MOUNTED DISPLAYS: VIRTUAL REALITY MARKET, BY COMPONENT, 2019–2022 (USD MILLION)
TABLE 53 HEAD-MOUNTED DISPLAYS: VIRTUAL REALITY MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
9.3.2 GESTURE-TRACKING DEVICES
9.3.2.1 Rising use of gesture-tracking devices in gaming sector to fuel market growth
9.3.2.1.1 Data gloves
9.3.2.1.2 Others
TABLE 54 GESTURE-TRACKING DEVICES: VIRTUAL REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 55 GESTURE-TRACKING DEVICES: VIRTUAL REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 56 GESTURE-TRACKING DEVICES: VIRTUAL REALITY MARKET, BY COMPONENT, 2019–2022 (USD MILLION)
TABLE 57 GESTURE-TRACKING DEVICES: VIRTUAL REALITY MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
9.3.3 PROJECTORS & DISPLAY WALLS
9.3.3.1 Users' requirement to interact with virtual environments and large-scale visualizations to boost demand
TABLE 58 PROJECTORS & DISPLAY WALLS: VIRTUAL REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 59 PROJECTORS & DISPLAY WALLS: VIRTUAL REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 60 PROJECTORS & DISPLAY WALLS: VIRTUAL REALITY MARKET, BY COMPONENT, 2019–2022 (USD MILLION)
TABLE 61 PROJECTORS & DISPLAY WALLS: VIRTUAL REALITY MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
10 AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY APPLICATION
10.1 INTRODUCTION
10.2 APPLICATIONS OF AUGMENTED REALITY
FIGURE 59 CONSUMER APPLICATIONS TO HOLD LARGEST SHARE OF AUGMENTED REALITY MARKET IN 2028
TABLE 62 AUGMENTED REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 63 AUGMENTED REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
10.2.1 CONSUMER
10.2.1.1 Increase use of AR and VR technologies in consumer applications to drive market
TABLE 64 CONSUMER: AUGMENTED REALITY MARKET, BY OFFERING 2019–2022 (USD MILLION)
TABLE 65 CONSUMER: AUGMENTED REALITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 66 CONSUMER: AUGMENTED REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 67 CONSUMER: AUGMENTED REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
10.2.1.2 Gaming
10.2.1.3 Sports & entertainment
10.2.1.3.1 Entertainment applications
10.2.1.3.1.1 Museums (archaeology)
10.2.1.3.1.2 Theme parks
10.2.1.3.1.3 Art galleries and exhibitions
TABLE 68 USE CASES OF AUGMENTED REALITY IN CONSUMER APPLICATIONS
10.2.2 COMMERCIAL
TABLE 69 COMMERCIAL: AUGMENTED REALITY MARKET, BY OFFERING, 2019–2022 (USD MILLION)
TABLE 70 COMMERCIAL: AUGMENTED REALITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 71 COMMERCIAL: AUGMENTED REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 72 COMMERCIAL: AUGMENTED REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
10.2.2.1 Retail & e-commerce
10.2.2.1.1 Jewelry
10.2.2.1.1.1 Immersive jewelry buying experience using AR technology to drive market
10.2.2.1.2 Beauty and cosmetics
10.2.2.1.2.1 Transformation of beauty and cosmetics industry with AR to support market growth
10.2.2.1.3 Apparel fitting
10.2.2.1.3.1 Virtual fitting rooms to shape future of retail
10.2.2.1.4 Grocery shopping
10.2.2.1.4.1 Rising use of AR technology to promote new products and increase sales to fuel segmental growth
10.2.2.1.5 Footwear
10.2.2.1.5.1 Rising focus of footwear manufacturers on offering dynamic and engaging experience to customers to foster market growth
10.2.2.1.6 Furniture & lighting design
10.2.2.1.6.1 Growing demand for sustainable and environmentally responsible designs to drive market
10.2.2.2 Travel & tourism
10.2.2.2.1 Initiatives by travel companies to plan immersive and enjoyable journeys for travelers to boost demand for AR technology
10.2.2.3 E-learning
10.2.2.3.1 Increasing focus of educational institutions to provide learners with interactive and real-world experiences to create need for AR
TABLE 73 USE CASES OF AUGMENTED REALITY IN COMMERCIAL APPLICATIONS
10.2.3 ENTERPRISE (MANUFACTURING)
10.2.3.1 Potential of AR to significantly enhance productivity and improve operational efficiency to boost its demand in enterprise applications
TABLE 74 ENTERPRISE: AUGMENTED REALITY MARKET, BY OFFERING, 2019–2022 (USD MILLION)
TABLE 75 ENTERPRISE: AUGMENTED REALITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 76 ENTERPRISE: AUGMENTED REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 77 ENTERPRISE: AUGMENTED REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
TABLE 78 USE CASES OF AUGMENTED REALITY IN ENTERPRISE APPLICATIONS
10.2.4 HEALTHCARE
TABLE 79 HEALTHCARE: AUGMENTED REALITY MARKET, BY OFFERING, 2019–2022 (USD MILLION)
TABLE 80 HEALTHCARE: AUGMENTED REALITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 81 HEALTHCARE: AUGMENTED REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 82 HEALTHCARE: AUGMENTED REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
10.2.4.1 Surgery
10.2.4.1.1 Growing adoption of AR in surgery to enhance precision and reduce errors to boost demand
10.2.4.2 Fitness management
10.2.4.2.1 Increasing use of AR to enhance workout experiences and improve overall health and well-being to drive market
10.2.4.3 Patient care management
10.2.4.3.1 Rising focus of healthcare professionals on improving healthcare delivery and patient outcomes to support market growth
10.2.4.4 Pharmacy management
10.2.4.4.1 Need for real-time information on stock levels, expiration dates, and order history to boost demand for AR
10.2.4.5 Medical training and education
10.2.4.5.1 Need to train healthcare professionals to provide quality care to create requirement for AR technology
10.2.4.6 Others
TABLE 83 USE CASES OF AUGMENTED REALITY IN HEALTHCARE APPLICATIONS
10.2.5 AEROSPACE & DEFENSE
10.2.5.1 Increasing adoption of AR for quick aircraft identification of defects, damage, or wear to drive market
TABLE 84 AEROSPACE & DEFENSE: AUGMENTED REALITY MARKET, BY OFFERING, 2019–2022 (USD MILLION)
TABLE 85 AEROSPACE & DEFENSE: AUGMENTED REALITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 86 AEROSPACE & DEFENSE: AUGMENTED REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 87 AEROSPACE & DEFENSE: AUGMENTED REALITY, BY REGION, 2023–2028 (USD MILLION)
TABLE 88 USE CASES OF AUGMENTED REALITY IN AEROSPACE & DEFENSE APPLICATIONS
10.2.6 ENERGY
10.2.6.1 Rising focus on avoiding accidents and ensuring compliance with safety regulations to boost demand for AR in energy sector
TABLE 89 ENERGY: AUGMENTED REALITY MARKET, BY OFFERING, 2019–2022 (USD MILLION)
TABLE 90 ENERGY: AUGMENTED REALITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 91 ENERGY: AUGMENTED REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 92 ENERGY: AUGMENTED REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
TABLE 93 USE CASES OF AUGMENTED REALITY IN ENERGY APPLICATIONS
10.2.7 AUTOMOTIVE
10.2.7.1 High emphasis of automobile companies on developing smarter and more user-friendly vehicles to fuel demand for AR
TABLE 94 AUTOMOTIVE: AUGMENTED REALITY MARKET, BY OFFERING, 2019–2022 (USD MILLION)
TABLE 95 AUTOMOTIVE: AUGMENTED REALITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 96 AUTOMOTIVE: AUGMENTED REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 97 AUTOMOTIVE: AUGMENTED REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
TABLE 98 USE CASES OF AUGMENTED REALITY IN AUTOMOTIVE APPLICATIONS
10.2.8 OTHER APPLICATIONS
TABLE 99 OTHER APPLICATIONS: AUGMENTED REALITY MARKET, BY OFFERING, 2019–2022 (USD MILLION)
TABLE 100 OTHER APPLICATIONS: AUGMENTED REALITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 101 OTHER APPLICATIONS: AUGMENTED REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 102 OTHER APPLICATIONS: AUGMENTED REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
10.2.8.1 Agriculture
10.2.8.2 Construction
10.2.8.3 Transportation & logistics
10.2.8.4 Public safety
10.2.8.5 Telecom/IT data centers
TABLE 103 USE CASES OF AUGMENTED REALITY IN OTHER APPLICATIONS
10.3 VIRTUAL REALITY APPLICATIONS
FIGURE 60 VIRTUAL REALITY MARKET FOR HEALTHCARE APPLICATIONS TO GROW AT HIGHEST CAGR BETWEEN 2023 AND 2028
TABLE 104 VIRTUAL REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 105 VIRTUAL REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
10.3.1 CONSUMER
10.3.1.1 Entertainment, education, travel, and healthcare sectors to contribute to market growth
TABLE 106 CONSUMER: VIRTUAL REALITY MARKET, BY OFFERING, 2019–2022 (USD MILLION)
TABLE 107 CONSUMER: VIRTUAL REALITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 108 CONSUMER: VIRTUAL REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 109 CONSUMER: VIRTUAL REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
10.3.1.1.1 Gaming & entertainment
10.3.1.1.2 Sports
10.3.1.2 Use cases of virtual reality in consumer applications
10.3.2 COMMERCIAL
10.3.2.1 Retail and e-commerce sectors to witness high adoption of virtual reality technology for commercial applications
TABLE 110 COMMERCIAL: VIRTUAL REALITY MARKET, BY OFFERING, 2019–2022 (USD MILLION)
TABLE 111 COMMERCIAL: VIRTUAL REALITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 112 COMMERCIAL: VIRTUAL REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 113 COMMERCIAL: VIRTUAL REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
10.3.2.1.1 Retail & e-commerce
10.3.2.1.2 Education & training
10.3.2.1.3 Travel & tourism
10.3.2.1.4 Advertising
10.3.2.2 Use cases of virtual reality in commercial applications
10.3.3 ENTERPRISE (MANUFACTURING)
10.3.3.1 Gowing utilization of virtual reality in training and simulation applications to stimulate segmental growth
TABLE 114 ENTERPRISE: VIRTUAL REALITY MARKET, BY OFFERING, 2019–2022 (USD MILLION)
TABLE 115 ENTERPRISE: VIRTUAL REALITY MARKET, BY OFFERING,2023–2028 (USD MILLION)
TABLE 116 ENTERPRISE: VIRTUAL REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 117 ENTERPRISE: VIRTUAL REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
10.3.3.2 Use cases of virtual reality in enterprise (manufacturing) applications
10.3.4 HEALTHCARE
10.3.4.1 Increasing adoption of virtual reality to enhance surgical planning, training, and skill development to accelerate market growth
TABLE 118 HEALTHCARE: VIRTUAL REALITY MARKET, BY OFFERING, 2019–2022 (USD MILLION)
TABLE 119 HEALTHCARE: VIRTUAL REALITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 120 HEALTHCARE: VIRTUAL REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 121 HEALTHCARE: VIRTUAL REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
10.3.4.1.1 Surgery
10.3.4.1.2 Patient care management
10.3.4.1.3 Fitness management
10.3.4.1.4 Pharmacy management
10.3.4.1.5 Medical training and education
10.3.4.2 Use cases of virtual reality in healthcare applications
10.3.5 AEROSPACE & DEFENSE
10.3.5.1 Increasing use of VR in cockpit design and testing and virtual combat training to support market growth
TABLE 122 AEROSPACE & DEFENSE: VIRTUAL REALITY MARKET, BY OFFERING, 2019–2022 (USD MILLION)
TABLE 123 AEROSPACE & DEFENSE: VIRTUAL REALITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 124 AEROSPACE & DEFENSE: VIRTUAL REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 125 AEROSPACE & DEFENSE: VIRTUAL REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
10.3.5.2 Use cases of virtual reality in aerospace & defense applications
10.3.6 OTHER APPLICATIONS
TABLE 126 OTHER APPLICATIONS: VIRTUAL REALITY MARKET, BY OFFERING, 2019–2022 (USD MILLION)
TABLE 127 OTHER APPLICATIONS: VIRTUAL REALITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 128 OTHER APPLICATIONS: VIRTUAL REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 129 OTHER APPLICATIONS: VIRTUAL REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
10.3.6.1 Automotive
10.3.6.2 Real estate (architecture and building design)
10.3.6.3 Geospatial mining
10.3.6.4 Use cases of virtual reality in other applications
11 AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY REGION
11.1 INTRODUCTION
FIGURE 61 ASIA PACIFIC TO RECORD HIGHEST CAGR IN AUGMENTED REALITY MARKET DURING 2023–2028
TABLE 130 AUGMENTED REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 131 AUGMENTED REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
TABLE 132 VIRTUAL REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 133 VIRTUAL REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
11.2 NORTH AMERICA
FIGURE 63 NORTH AMERICA: AUGMENTED REALITY MARKET SNAPSHOT
TABLE 134 NORTH AMERICA: AUGMENTED REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 135 NORTH AMERICA: AUGMENTED REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 136 NORTH AMERICA: AUGMENTED REALITY MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
TABLE 137 NORTH AMERICA: AUGMENTED REALITY MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
FIGURE 64 NORTH AMERICA: VIRTUAL REALITY MARKET SNAPSHOT
TABLE 138 NORTH AMERICA: VIRTUAL REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 139 NORTH AMERICA: VIRTUAL REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 140 NORTH AMERICA: VIRTUAL REALITY MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
TABLE 141 NORTH AMERICA: VIRTUAL REALITY MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
11.2.1 US
11.2.1.1 Presence of leading tech giants to contribute to market growth
11.2.2 CANADA
11.2.2.1 Thriving tech industry to propel market
11.2.3 MEXICO
11.2.3.1 Advancing commercial & consumer sectors to stimulate market expansion
11.2.4 RECESSION IMPACT ON AUGMENTED REALITY AND VIRTUAL REALITY MARKET IN NORTH AMERICA
11.3 EUROPE
FIGURE 65 EUROPE: AUGMENTED REALITY MARKET SNAPSHOT
TABLE 142 EUROPE: AUGMENTED REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 143 EUROPE: AUGMENTED REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 144 EUROPE: AUGMENTED REALITY MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
TABLE 145 EUROPE: AUGMENTED REALITY MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
FIGURE 66 EUROPE: VIRTUAL REALITY MARKET SNAPSHOT
TABLE 146 EUROPE: VIRTUAL REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 147 EUROPE: VIRTUAL REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 148 EUROPE: VIRTUAL REALITY MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
TABLE 149 EUROPE: VIRTUAL REALITY MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
11.3.1 GERMANY
11.3.1.1 Widespread adoption of emerging technologies in manufacturing sector to drive market
11.3.2 FRANCE
11.3.2.1 High adoption of augmented reality and virtual reality in retail to boost market
11.3.3 UK
11.3.3.1 Rapid adoption of digital technologies to boost demand for AR and VR technologies
11.3.4 REST OF EUROPE
11.3.5 RECESSION IMPACT ON AUGMENTED REALITY AND VIRTUAL REALITY MARKET IN EUROPE
11.4 ASIA PACIFIC
FIGURE 67 ASIA PACIFIC: AUGMENTED REALITY MARKET SNAPSHOT
TABLE 150 ASIA PACIFIC: AUGMENTED REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 151 ASIA PACIFIC: AUGMENTED REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 152 ASIA PACIFIC: AUGMENTED REALITY MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
TABLE 153 ASIA PACIFIC: AUGMENTED REALITY MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
FIGURE 68 ASIA PACIFIC: VIRTUAL REALITY MARKET SNAPSHOT
TABLE 154 ASIA PACIFIC: VIRTUAL REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 155 ASIA PACIFIC: VIRTUAL REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 156 ASIA PACIFIC: VIRTUAL REALITY MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
TABLE 157 ASIA PACIFIC: VIRTUAL REALITY MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
11.4.1 CHINA
11.4.1.1 Substantial presence of domestic manufacturers producing augmented reality and virtual reality devices to propel market expansion
11.4.2 INDIA
11.4.2.1 Heightened awareness of cutting-edge technology to be pivotal in driving market expansion
11.4.3 JAPAN
11.4.3.1 Rapid expansion of the healthcare sector to drive market
11.4.4 SOUTH KOREA
11.4.4.1 Digital transformation within industrial sector to stimulate market growth
11.4.5 REST OF ASIA PACIFIC
11.4.6 RECESSION IMPACT ON AUGMENTED REALITY AND VIRTUAL REALITY MARKET IN ASIA PACIFIC
11.5 REST OF THE WORLD (ROW)
FIGURE 69 ROW: AUGMENTED REALITY MARKET, BY REGION
TABLE 158 ROW: AUGMENTED REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 159 ROW: AUGMENTED REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 160 ROW: AUGMENTED REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 161 ROW: AUGMENTED REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
FIGURE 70 ROW: VIRTUAL REALITY MARKET, BY REGION
TABLE 162 ROW: VIRTUAL REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 163 ROW: VIRTUAL REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 164 ROW: VIRTUAL REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 165 ROW: VIRTUAL REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
11.5.1 MIDDLE EAST & AFRICA
11.5.1.1 Middle East & Africa to provide lucrative opportunities for AR and VR technology providers
11.5.2 SOUTH AMERICA
11.5.2.1 Expanding consumer market in South America to poise potential growth in region
11.5.3 RECESSION IMPACT ON AUGMENTED REALITY AND VIRTUAL REALITY MARKET IN ROW REGION
12 COMPETITIVE LANDSCAPE
12.1 OVERVIEW
FIGURE 71 KEY STRATEGIES UNDERTAKEN BY LEADING PLAYERS IN AUGMENTED REALITY AND VIRTUAL REALITY MARKET FROM 2021 TO 2023
12.2 MARKET SHARE AND RANKING ANALYSIS
TABLE 166 AUGMENTED REALITY AND VIRTUAL REALITY MARKET: DEGREE OF COMPETITION
FIGURE 72 MARKET SHARE OF TOP FIVE PLAYERS OFFERING AUGMENTED REALITY AND VIRTUAL REALITY TECHNOLOGIES
12.3 FIVE-YEAR COMPANY REVENUE ANALYSIS
FIGURE 73 FIVE-YEAR REVENUE ANALYSIS OF KEY COMPANIES
12.4 COMPANY EVALUATION MATRIX, 2022
FIGURE 74 AUGMENTED REALITY & VIRTUAL REALITY MARKET (GLOBAL): COMPANY EVALUATION MATRIX, 2022
12.4.1 STARS
12.4.2 EMERGING LEADERS
12.4.3 PERVASIVE PLAYERS
12.4.4 PARTICIPANTS
12.4.5 COMPANY FOOTPRINT
TABLE 167 COMPANY FOOTPRINT
TABLE 168 APPLICATION FOOTPRINT
TABLE 169 REGION FOOTPRINT
12.5 STARTUP/SME EVALUATION MATRIX, 2022
FIGURE 75 AUGMENTED REALITY & VIRTUAL REALITY (GLOBAL): STARTUP/SME EVALUATION MATRIX, 2022
12.5.1 PROGRESSIVE COMPANIES
12.5.2 RESPONSIVE COMPANIES
12.5.3 DYNAMIC COMPANIES
12.5.4 STARTING BLOCKS
12.5.5 COMPETITIVE BENCHMARKING
TABLE 170 AUGMENTED REALITY AND VIRTUAL REALITY MARKET: DETAILED LIST OF KEY STARTUPS/SMES
TABLE 171 AUGMENTED REALITY AND VIRTUAL REALITY MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUP/SMES
12.6 COMPETITIVE SCENARIO
12.6.1 PRODUCT LAUNCHES, 2022–2023
12.6.2 DEALS, 2022–2023
TABLE 172 DEALS, 2022–2023
13 COMPANY PROFILES
(Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
13.1 INTRODUCTION
13.2 KEY PLAYERS
13.2.1 GOOGLE
TABLE 173 GOOGLE: COMPANY OVERVIEW
FIGURE 76 GOOGLE: COMPANY SNAPSHOT
TABLE 174 GOOGLE: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 175 GOOGLE: PRODUCT LAUNCHES/DEVELOPMENTS
TABLE 176 GOOGLE: DEALS
13.2.2 MICROSOFT
TABLE 177 MICROSOFT: COMPANY OVERVIEW
FIGURE 77 MICROSOFT: COMPANY SNAPSHOT
TABLE 178 MICROSOFT: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 179 MICROSOFT: PRODUCT LAUNCHES/DEVELOPMENTS
TABLE 180 MICROSOFT: DEALS
13.2.3 SONY GROUP CORPORATION
TABLE 181 SONY GROUP CORPORATION: COMPANY OVERVIEW
FIGURE 78 SONY GROUP CORPORATION: COMPANY SNAPSHOT
TABLE 182 SONY GROUP CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 183 SONY GROUP CORPORATION: PRODUCT LAUNCHES/DEVELOPMENT
TABLE 184 SONY GROUP CORPORATION: DEALS
13.2.4 META
TABLE 185 META: COMPANY OVERVIEW
FIGURE 79 META: COMPANY SNAPSHOT
TABLE 186 META: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 187 META: PRODUCT LAUNCHES/DEVELOPMENTS
TABLE 188 META: DEALS
13.2.5 SAMSUNG
TABLE 189 SAMSUNG: COMPANY OVERVIEW
FIGURE 80 SAMSUNG: COMPANY SNAPSHOT
TABLE 190 SAMSUNG: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 191 SAMSUNG: PRODUCT LAUNCHES/DEVELOPMENTS
TABLE 192 SAMSUNG: DEALS
13.2.6 HTC CORPORATION
TABLE 193 HTC CORPORATION: COMPANY OVERVIEW
FIGURE 81 HTC CORPORATION: COMPANY SNAPSHOT
TABLE 194 HTC CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 195 HTC CORPORATION: PRODUCT LAUNCHES/DEVELOPMENTS
TABLE 196 HTC CORPORATION: DEALS
13.2.7 APPLE INC.
TABLE 197 APPLE INC.: COMPANY OVERVIEW
FIGURE 82 APPLE INC.: COMPANY SNAPSHOT
TABLE 198 APPLE INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 199 APPLE INC.: PRODUCT LAUNCHES/DEVELOPMENTS
TABLE 200 APPLE INC.: DEALS
13.2.8 PTC INC.
TABLE 201 PTC INC.: COMPANY OVERVIEW
FIGURE 83 PTC INC.: COMPANY SNAPSHOT
TABLE 202 PTC INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 203 PTC INC.: PRODUCT LAUNCHES/DEVELOPMENTS
TABLE 204 PTC INC.: DEALS
13.2.9 SEIKO EPSON CORPORATION
TABLE 205 SEIKO EPSON CORPORATION: COMPANY OVERVIEW
FIGURE 84 SEIKO EPSON CORPORATION: COMPANY SNAPSHOT
TABLE 206 SEIKO EPSON CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 207 SEIKO EPSON CORPORATION: PRODUCT LAUNCHES/DEVELOPMENTS
TABLE 208 SEIKO EPSON CORPORATION: DEALS
13.2.10 LENOVO
TABLE 209 LENOVO: COMPANY OVERVIEW
FIGURE 85 LENOVO: COMPANY SNAPSHOT
TABLE 210 LENOVO: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 211 LENOVO: PRODUCT LAUNCHES/DEVELOPMENTS
TABLE 212 LENOVO: DEALS
13.3 OTHER PLAYERS
13.3.1 WIKITUDE, A QUALCOMM COMPANY
13.3.2 EON REALITY
13.3.3 MAXST CO., LTD.
13.3.4 MAGIC LEAP, INC.
13.3.5 BLIPPAR GROUP LIMITED
13.3.6 ATHEER, INC
13.3.7 VUZIX
13.3.8 CYBERGLOVE SYSTEMS INC.
13.3.9 LEAP MOTIONS (ULTRALEAP)
13.3.10 PENUMBRA, INC.
13.3.11 NINTENDO
13.3.12 PSICO SMART APPS, S.L.
13.3.13 XIAOMI
13.3.14 PANASONIC CORPORATION
13.3.15 SCOPE AR
13.3.16 CONTINENTAL AG
13.3.17 VIRTUALLY LIVE
13.3.18 SPACEVR INC
13.3.19 INTEL CORPORATION
13.3.20 3D CLOUD BY MARXENT
13.3.21 WAYRAY AG
13.3.22 CRAFTARS
13.3.23 TALESPIN REALITY LABS, INC.
13.3.24 BIDON GAMES STUDIO
13.3.25 APPENTUS TECHNOLOGIES
13.3.26 BYTEDANCE
13.3.27 DPVR
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
14 APPENDIX
14.1 INSIGHTS FROM INDUSTRY EXPERTS
14.2 DISCUSSION GUIDE
14.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
14.4 CUSTOMIZATION OPTIONS
14.5 RELATED REPORTS
14.6 AUTHOR DETAILS
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.2.1 INCLUSIONS AND EXCLUSIONS
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
FIGURE 1 AUGMENTED REALITY: MARKET SEGMENTATION
FIGURE 2 VIRTUAL REALITY: MARKET SEGMENTATION
1.3.2 REGIONAL SCOPE
FIGURE 3 AUGMENTED REALITY AND VIRTUAL REALITY MARKET: REGIONAL SCOPE
1.3.3 YEARS CONSIDERED
1.4 CURRENCY CONSIDERED
1.5 UNITS CONSIDERED
1.6 LIMITATIONS
1.7 STAKEHOLDERS
1.8 SUMMARY OF CHANGES
1.8.1 RECESSION IMPACT
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 4 AUGMENTED REALITY MARKET: RESEARCH DESIGN
FIGURE 5 VIRTUAL REALITY MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.1.2 Key secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 Key participants in primary interviews
2.1.2.3 Breakdown of primary interviews
2.1.2.4 Key industry insights
2.1.3 SECONDARY AND PRIMARY RESEARCH
2.2 MARKET SIZE ESTIMATION
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY SIDE): REVENUE GENERATED BY KEY EQUIPMENT MANUFACTURERS IN AUGMENTED REALITY AND VIRTUAL REALITY MARKET
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 (SUPPLY SIDE): ILLUSTRATION OF REVENUE ESTIMATION OF KEY MANUFACTURERS IN AUGMENTED REALITY AND VIRTUAL REALITY MARKET
FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 3 (DEMAND SIDE) —BOTTOM-UP ESTIMATION OF AUGMENTED REALITY MARKET BASED ON REGION
FIGURE 9 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 3 (DEMAND SIDE) —BOTTOM-UP ESTIMATION OF VIRTUAL REALITY MARKET BASED ON REGION
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Approach to derive market size using bottom-up analysis
FIGURE 10 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Approach to derive market size using top-down analysis
FIGURE 11 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
2.3 MARKET SHARE ESTIMATION
2.4 DATA TRIANGULATION
FIGURE 12 DATA TRIANGULATION
2.5 RISK ASSESSMENT
TABLE 1 RISK FACTOR ANALYSIS
2.6 RECESSION IMPACT
2.7 RESEARCH ASSUMPTIONS AND LIMITATIONS
2.7.1 ASSUMPTIONS
2.7.2 LIMITATIONS
3 EXECUTIVE SUMMARY
3.1 IMPACT OF RECESSION
FIGURE 13 AUGMENTED REALITY MARKET: IMPACT OF RECESSION
FIGURE 14 VIRTUAL REALITY MARKET: IMPACT OF RECESSION
FIGURE 15 SOFTWARE OFFERINGS TO ACCOUNT FOR LARGER SHARE OF AUGMENTED REALITY MARKET IN 2028
FIGURE 16 CONSUMER APPLICATIONS TO ACCOUNT FOR LARGEST SHARE OF AUGMENTED REALITY MARKET IN 2028
FIGURE 17 HEAD-MOUNTED DISPLAYS TO ACCOUNT FOR LARGEST SHARE OF VIRTUAL REALITY MARKET IN 2028
FIGURE 18 SEMI-IMMERSIVE AND FULLY IMMERSIVE TECHNOLOGIES TO DOMINATE VIRTUAL REALITY MARKET IN 2028
FIGURE 19 AUGMENTED REALITY MARKET IN ASIA PACIFIC TO GROW AT HIGHEST CAGR DURING THE FORECAST PERIOD
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES IN AUGMENTED REALITY MARKET
FIGURE 20 GROWING DEMAND FOR AUGMENTED REALITY IN HEALTHCARE AND ENTERPRISE APPLICATIONS TO DRIVE MARKET
4.2 ATTRACTIVE OPPORTUNITIES IN VIRTUAL REALITY MARKET
FIGURE 21 INCREASING USE OF VIRTUAL REALITY IN CONSUMER APPLICATIONS TO DRIVE MARKET
4.3 AUGMENTED REALITY MARKET, BY DEVICE TYPE
FIGURE 22 HEAD-MOUNTED DISPLAYS TO CAPTURE LARGER SHARE OF AUGMENTED REALITY MARKET IN 2028
4.4 AUGMENTED REALITY MARKET, BY HARDWARE COMPONENT
FIGURE 23 DISPLAY & PROJECTORS TO WITNESS HIGHER CAGR IN AUGMENTED REALITY MARKET, BY HARDWARE COMPONENT IN 2028
4.5 AUGMENTED REALITY MARKET, BY REGION
FIGURE 24 CHINA TO RECORD HIGHEST CAGR IN AUGMENTED REALITY MARKET FROM 2023 TO 2028
4.6 VIRTUAL REALITY MARKET, BY OFFERING
FIGURE 25 SOFTWARE OFFERINGS TO ACCOUNT FOR LARGER SHARE OF VIRTUAL REALITY MARKET IN 2028
4.7 VIRTUAL REALITY MARKET, BY APPLICATION
FIGURE 26 CONSUMER APPLICATIONS TO ACCOUNT FOR LARGEST SHARE OF VIRTUAL REALITY MARKET IN 2028
4.8 VIRTUAL REALITY MARKET, BY HARDWARE COMPONENT
FIGURE 27 DISPLAY & PROJECTORS TO ACCOUNT FOR LARGEST VIRTUAL REALITY MARKET SHARE, BY HARDWARE COMPONENT IN 2028
4.9 VIRTUAL REALITY MARKET, BY REGION
FIGURE 28 CHINA TO EXHIBIT HIGHEST CAGR IN VIRTUAL REALITY MARKET DURING FORECAST PERIOD
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS: AUGMENTED REALITY MARKET
FIGURE 29 AUGMENTED REALITY MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Increased use of AR devices in healthcare applications
5.2.1.2 High adoption of AR technology in retail and e-commerce applications
5.2.1.3 Amplifying capital investments to maximize AR technology potential
5.2.1.4 Remarkable adoption of AR technology in gaming and entertainment
5.2.1.5 Expanding AR developer ecosystem
FIGURE 30 AUGMENTED REALITY MARKET DRIVERS: IMPACT ANALYSIS
5.2.2 RESTRAINTS
5.2.2.1 Privacy and security concerns related to AR
5.2.2.2 Social isolation implications of excessive AR engagement
FIGURE 31 AUGMENTED REALITY MARKET RESTRAINTS: IMPACT ANALYSIS
5.2.3 OPPORTUNITIES
5.2.3.1 Increasing use of AR technology in architecture
5.2.3.2 Significant use of AR technology by travel and tourism companies to enhance customer engagement
5.2.3.3 Growing utilization of AR technology in advertising industry to create/improve brand awareness
FIGURE 32 AUGMENTED REALITY MARKET OPPORTUNITIES: IMPACT ANALYSIS
5.2.4 CHALLENGES
5.2.4.1 Latency in display and restricted field of vision
5.2.4.2 Delivering AR solutions coherent with diverse platforms having unique attributes
FIGURE 33 AUGMENTED REALITY MARKET CHALLENGES: IMPACT ANALYSIS
5.3 MARKET DYNAMICS: VIRTUAL REALITY MARKET
FIGURE 34 VIRTUAL REALITY MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.3.1 DRIVERS
5.3.1.1 Increased investments in virtual reality market
5.3.1.2 Rapid adoption of digital technologies in healthcare and gaming & entertainment sectors
5.3.1.3 Availability of budget-friendly virtual reality equipment
5.3.1.4 Significant adoption of HMDs across various sectors
5.3.1.5 Growing trend of remote working
5.3.1.6 Emergence of virtual classrooms offering immersive and engaging learning experiences
FIGURE 35 VIRTUAL REALITY MARKET DRIVERS: IMPACT ANALYSIS
5.3.2 RESTRAINTS
5.3.2.1 Latency issues and high energy consumption
5.3.2.2 Trade restrictions between US and China
FIGURE 36 VIRTUAL REALITY MARKET RESTRAINTS: IMPACT ANALYSIS
5.3.3 OPPORTUNITIES
5.3.3.1 Emerging applications of VR in telemedicine
FIGURE 37 VIRTUAL REALITY MARKET OPPORTUNITIES: IMPACT ANALYSIS
5.3.4 CHALLENGES
5.3.4.1 Creating VR systems with user-friendly interface
5.3.4.2 Addressing technological hurdles to enable users to fully connect to virtual environment
FIGURE 38 VIRTUAL REALITY MARKET CHALLENGES: IMPACT ANALYSIS
5.4 SUPPLY CHAIN ANALYSIS
FIGURE 39 SUPPLY CHAIN ANALYSIS: AUGMENTED REALITY AND VIRTUAL REALITY MARKET
5.4.1 R&D ENGINEERS
5.4.2 PRODUCT MANUFACTURERS
5.4.3 SYSTEM INTEGRATORS
5.4.4 MARKETING AND SALES TEAMS
5.4.5 END-USER INDUSTRIES
5.5 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
FIGURE 40 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
5.6 ECOSYSTEM MAPPING
TABLE 2 AUGMENTED REALITY AND VIRTUAL REALITY MARKET: ECOSYSTEM MAPPING
FIGURE 41 KEY PLAYERS IN AUGMENTED REALITY AND VIRTUAL REALITY MARKET
5.7 TECHNOLOGY ANALYSIS
5.7.1 AR SMART GLASSES
5.7.2 AR-POWERED DISPLAYS
5.7.3 VR-BASED MICRODISPLAYS
5.7.4 MOBILE AR
5.7.5 AR/VR-BASED MONITORS
5.7.6 NEAR-EYE DISPLAYS
5.7.7 WEBAR
5.7.8 METAVERSE
5.8 PORTER’S FIVE FORCES ANALYSIS
FIGURE 42 AUGMENTED REALITY AND VIRTUAL REALITY MARKET: PORTER’S FIVE FORCES ANALYSIS
TABLE 3 PORTER’S FIVE FORCES ANALYSIS WITH THEIR IMPACT
5.8.1 INTENSITY OF COMPETITIVE RIVALRY
5.8.2 THREAT OF NEW ENTRANTS
5.8.3 THREAT OF SUBSTITUTES
5.8.4 BARGAINING POWER OF BUYERS
5.8.5 BARGAINING POWER OF SUPPLIERS
5.9 PRICING ANALYSIS
5.9.1 AVERAGE SELLING PRICE OF HARDWARE COMPONENTS OFFERED BY KEY PLAYERS
TABLE 4 AVERAGE SELLING PRICE TREND OF TOP THREE KEY PLAYERS (USD), 2023
5.9.2 AVERAGE SELLING PRICE TREND, BY DEVICE TYPE, 2019–2028
5.10 CASE STUDY ANALYSIS
5.10.1 IMPROVING TEACHING AND LEARNING EXPERIENCE BY IMPLEMENTING VR TECHNOLOGIES
TABLE 5 LENOVO’S VIRTUAL REALITY CLASSROOM SOLUTION REVOLUTIONIZES HIGHER EDUCATION
5.10.2 TRANSFORMING TRAVEL EXPERIENCES WITH AR AND VR TECHNOLOGIES
TABLE 6 META AND BMW'S COLLABORATIVE VISION AIMS TO ELEVATE IN-CAR EXPERIENCES BY SEAMLESSLY INTEGRATING AUGMENTED REALITY AND VIRTUAL REALITY
5.10.3 TRANSFORMING EDUCATION WITH XR FOUNDATIONS FOR EDUCATORS
TABLE 7 VERIZON AND XR TERRA COLLABORATION TO PROVIDE INNOVATIVE LEARNING EXPERIENCE TO EDUCATORS
5.11 PATENT ANALYSIS
5.11.1 DOCUMENT TYPE
TABLE 8 PATENTS FILED AND GRANTED
FIGURE 43 PATENTS APPLIED AND ISSUED FROM 2013 TO 2022
5.11.2 PUBLICATION TREND
FIGURE 44 NUMBER OF PATENTS PUBLISHED EACH YEAR FROM 2013 TO 2022
5.11.3 JURISDICTION ANALYSIS
FIGURE 45 JURISDICTION ANALYSIS, 2013–2022
5.11.4 TOP PATENT OWNERS
FIGURE 46 TOP 10 PATENT OWNERS FROM 2013 TO 2022
TABLE 9 TOP 20 PATENT OWNERS IN LAST 10 YEARS
5.12 TRADE DATA ANALYSIS
FIGURE 47 COUNTRY-WISE EXPORT DATA FOR PRODUCTS CLASSIFIED UNDER HS CODE 9004, 2018–2022
TABLE 10 EXPORT SCENARIO FOR HS CODE 9004-COMPLIANT PRODUCTS, BY COUNTRY, 2018–2022 (USD THOUSAND)
FIGURE 48 COUNTRY-WISE IMPORT DATA FOR PRODUCTS CLASSIFIED UNDER HS CODE 9004, 2018–2022
TABLE 11 IMPORT SCENARIO FOR HS CODE 9004-COMPLIANT PRODUCTS, BY COUNTRY, 2018–2022 (USD THOUSAND)
5.13 REGULATORY LANDSCAPE
5.13.1 STANDARD AND REGULATIONS RELATED TO AUGMENTED REALITY AND VIRTUAL REALITY MARKET
TABLE 12 AUGMENTED REALITY AND VIRTUAL REALITY MARKET: REGULATORY FRAMEWORK
5.14 REGIONAL REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 13 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 14 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 15 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 16 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.15 KEY CONFERENCES AND EVENTS, 2023–2024
5.16 KEY STAKEHOLDERS AND BUYING CRITERIA
5.16.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 49 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP-THREE APPLICATIONS
TABLE 17 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR APPLICATIONS (%)
5.16.2 KEY BUYING CRITERIA
TABLE 18 KEY BUYING CRITERIA FOR APPLICATIONS
6 AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY ENTERPRISE
6.1 INTRODUCTION
6.2 SMALL ENTERPRISES
6.3 MEDIUM-SIZED ENTERPRISES
6.4 LARGE ENTERPRISES
7 AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY TECHNOLOGY
7.1 INTRODUCTION
7.2 AUGMENTED REALITY TECHNOLOGY
TABLE 19 COMPARISON BETWEEN MARKER-BASED AND MARKERLESS AUGMENTED REALITY
7.2.1 MARKER-BASED AUGMENTED REALITY
7.2.1.1 Passive marker
7.2.1.1.1 High preference for passive markers to drive market
7.2.1.2 Active marker
7.2.1.2.1 Increased use of LED-powered active markers in object tracking applications to support market growth
7.2.2 MARKERLESS AUGMENTED REALITY
7.2.2.1 Model-based tracking
7.2.2.1.1 Advancements in model-based tracking through camera movements and light dynamics to drive market
7.2.2.2 Image processing-based tracking
7.2.2.2.1 Expanding landscape of image processing-based tracking with optical scanners and cameras to drive market
7.2.3 ANCHOR-BASED AUGMENTED REALITY
7.2.3.1 Rising adoption of anchor-based augmented reality to overlay virtual images in real world to boost segmental growth
7.3 VIRTUAL REALITY TECHNOLOGY
FIGURE 50 SEMI IMMERSIVE- AND FULLY IMMERSIVE TECHNOLOGIES TO LEAD VIRTUAL REALITY MARKET IN 2028
TABLE 20 VIRTUAL REALITY MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)
TABLE 21 VIRTUAL REALITY MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION)
7.3.1 NON-IMMERSIVE TECHNOLOGY
7.3.1.1 Growing use of non-immersive technology in developing virtual reality software to drive market
7.3.2 SEMI-IMMERSIVE AND FULLY IMMERSIVE TECHNOLOGY
7.3.2.1 High level of immersion offered by fully immersive technology to boost demand
8 AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY OFFERING
8.1 INTRODUCTION
FIGURE 51 AUGMENTED REALITY MARKET FOR HARDWARE TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
TABLE 22 AUGMENTED REALITY MARKET, BY OFFERING, 2019–2022 (USD MILLION)
TABLE 23 AUGMENTED REALITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)
FIGURE 52 VIRTUAL REALITY MARKET FOR SOFTWARE TO REGISTER HIGHER MARKET SHARE
TABLE 24 VIRTUAL REALITY MARKET, BY OFFERING, 2019–2022 (USD MILLION)
TABLE 25 VIRTUAL REALITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)
8.2 HARDWARE
FIGURE 53 DISPLAY & PROJECTORS TO HOLD LARGEST SHARE OF AUGMENTED REALITY MARKET IN 2028
TABLE 26 AUGMENTED REALITY MARKET, BY COMPONENT, 2019–2022 (USD MILLION)
TABLE 27 AUGMENTED REALITY MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
FIGURE 54 DISPLAYS & PROJECTORS TO WITNESS HIGHEST CAGR IN VIRTUAL REALITY MARKET FROM 2023 TO 2028
TABLE 28 VIRTUAL REALITY MARKET, BY COMPONENT, 2019–2022 (USD MILLION)
TABLE 29 VIRTUAL REALITY MARKET, COMPONENT, 2023–2028 (USD MILLION)
8.2.1 SENSORS
8.2.1.1 Increased use of sensors to detect and capture motions, velocity, magnetic fields, and presence of objects to drive market
8.2.1.1.1 Accelerometers
8.2.1.1.2 Gyroscopes
8.2.1.1.3 Magnetometers
8.2.1.1.4 Proximity sensors
8.2.2 SEMICONDUCTOR COMPONENTS
8.2.2.1 Significant role of controllers in smartphones and tablets to increase demand for augmented reality and virtual reality devices
8.2.2.1.1 Controllers and processors
8.2.2.1.2 Integrated circuits
8.2.3 DISPLAYS & PROJECTORS
8.2.3.1 Displays & projectors to witness fastest growth rate during forecast period
8.2.4 POSITION TRACKERS
8.2.4.1 Precise and stable object placement offered by position trackers to boost demand
8.2.5 CAMERAS
8.2.5.1 Cameras to exhibit second-highest growth rate during forecast period
8.2.6 OTHERS
8.3 SOFTWARE
8.3.1 SDKS TO PLAY CRUCIAL ROLE IN AUGMENTED REALITY AND VIRTUAL REALITY SOFTWARE MARKET
8.3.1.1 Software development kits
8.3.1.2 Cloud-based services
FIGURE 55 CONSUMER APPLICATIONS TO CAPTURE LARGEST SHARE OF AUGMENTED REALITY MARKET FOR SOFTWARE IN 2028
TABLE 30 SOFTWARE: AUGMENTED REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 31 SOFTWARE: AUGMENTED REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
FIGURE 56 CONSUMER APPLICATIONS TO CAPTURE LARGEST SHARE OF VIRTUAL REALITY MARKET FOR SOFTWARE IN 2028
TABLE 32 SOFTWARE: VIRTUAL REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 33 SOFTWARE: VIRTUAL REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
8.3.2 AR SOFTWARE MARKET, BY FUNCTION
8.3.2.1 Surging adoption of AR software solutions in workflow optimization and remote collaboration applications to fuel segmental growth
8.3.2.1.1 Remote collaboration
8.3.2.1.2 Workflow optimization
8.3.2.1.3 Documentation
8.3.2.1.4 Visualization
8.3.2.1.5 3D modeling
8.3.2.1.6 Navigation
9 AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY DEVICE TYPE
9.1 INTRODUCTION
9.2 AUGMENTED REALITY DEVICES
FIGURE 57 AUGMENTED REALITY MARKET FOR HEAD- MOUNTED DISPLAY TO HAVE LARGER SHARE
TABLE 34 AUGMENTED REALITY MARKET, BY DEVICE TYPE, 2019–2022 (USD MILLION)
TABLE 35 AUGMENTED REALITY MARKET, BY DEVICE TYPE, 2023–2028 (USD MILLION)
TABLE 36 AUGMENTED REALITY MARKET, BY DEVICE TYPE, 2019–2022 (MILLION UNITS)
TABLE 37 AUGMENTED REALITY MARKET, BY DEVICE TYPE, 2023–2028 (MILLION UNITS)
9.2.1 HEAD-MOUNTED DISPLAYS
TABLE 38 HEAD-MOUNTED DISPLAYS: AUGMENTED REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 39 HEAD-MOUNTED DISPLAYS: AUGMENTED REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 40 HEAD-MOUNTED DISPLAYS: AUGMENTED REALITY MARKET, BY COMPONENT, 2019–2022 (USD MILLION)
TABLE 41 HEAD-MOUNTED DISPLAYS: AUGMENTED REALITY MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
9.2.1.1 Augmented reality smart glasses
9.2.1.1.1 Evolving landscape of augmented reality smart glasses to drive market
9.2.1.2 Smart helmets
9.2.1.2.1 Enhanced safety and real-time information provided by smart helmets to boost demand
9.2.2 HEAD-UP DISPLAYS
9.2.2.1 Need to improve aviation and automotive navigation to drive market
TABLE 42 HEAD-UP DISPLAYS: AUGMENTED REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 43 HEAD-UP DISPLAYS: AUGMENTED REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 44 HEAD-UP DISPLAYS: AUGMENTED REALITY MARKET, BY COMPONENT, 2019–2022 (USD MILLION)
TABLE 45 HEAD-UP DISPLAYS: AUGMENTED REALITY MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
9.3 VIRTUAL REALITY DEVICES
FIGURE 58 VIRTUAL REALITY MARKET FOR GESTURE-TRACKING DEVICES TO GROW AT HIGHEST CAGR BETWEEN 2023 AND 2028
TABLE 46 VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2019–2022 (USD MILLION)
TABLE 47 VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2023–2028 (USD MILLION)
TABLE 48 VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2019–2022 (MILLION UNITS)
TABLE 49 VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2023–2028 (MILLION UNITS)
9.3.1 HEAD-MOUNTED DISPLAYS
9.3.1.1 Increasing adoption of head-mounted display-based devices in gaming and entertainment applications to drive market
TABLE 50 VIRTUAL REALITY HEAD-MOUNTED DISPLAYS MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 51 HEAD-MOUNTED DISPLAYS: VIRTUAL REALITY, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 52 HEAD-MOUNTED DISPLAYS: VIRTUAL REALITY MARKET, BY COMPONENT, 2019–2022 (USD MILLION)
TABLE 53 HEAD-MOUNTED DISPLAYS: VIRTUAL REALITY MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
9.3.2 GESTURE-TRACKING DEVICES
9.3.2.1 Rising use of gesture-tracking devices in gaming sector to fuel market growth
9.3.2.1.1 Data gloves
9.3.2.1.2 Others
TABLE 54 GESTURE-TRACKING DEVICES: VIRTUAL REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 55 GESTURE-TRACKING DEVICES: VIRTUAL REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 56 GESTURE-TRACKING DEVICES: VIRTUAL REALITY MARKET, BY COMPONENT, 2019–2022 (USD MILLION)
TABLE 57 GESTURE-TRACKING DEVICES: VIRTUAL REALITY MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
9.3.3 PROJECTORS & DISPLAY WALLS
9.3.3.1 Users' requirement to interact with virtual environments and large-scale visualizations to boost demand
TABLE 58 PROJECTORS & DISPLAY WALLS: VIRTUAL REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 59 PROJECTORS & DISPLAY WALLS: VIRTUAL REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 60 PROJECTORS & DISPLAY WALLS: VIRTUAL REALITY MARKET, BY COMPONENT, 2019–2022 (USD MILLION)
TABLE 61 PROJECTORS & DISPLAY WALLS: VIRTUAL REALITY MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
10 AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY APPLICATION
10.1 INTRODUCTION
10.2 APPLICATIONS OF AUGMENTED REALITY
FIGURE 59 CONSUMER APPLICATIONS TO HOLD LARGEST SHARE OF AUGMENTED REALITY MARKET IN 2028
TABLE 62 AUGMENTED REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 63 AUGMENTED REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
10.2.1 CONSUMER
10.2.1.1 Increase use of AR and VR technologies in consumer applications to drive market
TABLE 64 CONSUMER: AUGMENTED REALITY MARKET, BY OFFERING 2019–2022 (USD MILLION)
TABLE 65 CONSUMER: AUGMENTED REALITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 66 CONSUMER: AUGMENTED REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 67 CONSUMER: AUGMENTED REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
10.2.1.2 Gaming
10.2.1.3 Sports & entertainment
10.2.1.3.1 Entertainment applications
10.2.1.3.1.1 Museums (archaeology)
10.2.1.3.1.2 Theme parks
10.2.1.3.1.3 Art galleries and exhibitions
TABLE 68 USE CASES OF AUGMENTED REALITY IN CONSUMER APPLICATIONS
10.2.2 COMMERCIAL
TABLE 69 COMMERCIAL: AUGMENTED REALITY MARKET, BY OFFERING, 2019–2022 (USD MILLION)
TABLE 70 COMMERCIAL: AUGMENTED REALITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 71 COMMERCIAL: AUGMENTED REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 72 COMMERCIAL: AUGMENTED REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
10.2.2.1 Retail & e-commerce
10.2.2.1.1 Jewelry
10.2.2.1.1.1 Immersive jewelry buying experience using AR technology to drive market
10.2.2.1.2 Beauty and cosmetics
10.2.2.1.2.1 Transformation of beauty and cosmetics industry with AR to support market growth
10.2.2.1.3 Apparel fitting
10.2.2.1.3.1 Virtual fitting rooms to shape future of retail
10.2.2.1.4 Grocery shopping
10.2.2.1.4.1 Rising use of AR technology to promote new products and increase sales to fuel segmental growth
10.2.2.1.5 Footwear
10.2.2.1.5.1 Rising focus of footwear manufacturers on offering dynamic and engaging experience to customers to foster market growth
10.2.2.1.6 Furniture & lighting design
10.2.2.1.6.1 Growing demand for sustainable and environmentally responsible designs to drive market
10.2.2.2 Travel & tourism
10.2.2.2.1 Initiatives by travel companies to plan immersive and enjoyable journeys for travelers to boost demand for AR technology
10.2.2.3 E-learning
10.2.2.3.1 Increasing focus of educational institutions to provide learners with interactive and real-world experiences to create need for AR
TABLE 73 USE CASES OF AUGMENTED REALITY IN COMMERCIAL APPLICATIONS
10.2.3 ENTERPRISE (MANUFACTURING)
10.2.3.1 Potential of AR to significantly enhance productivity and improve operational efficiency to boost its demand in enterprise applications
TABLE 74 ENTERPRISE: AUGMENTED REALITY MARKET, BY OFFERING, 2019–2022 (USD MILLION)
TABLE 75 ENTERPRISE: AUGMENTED REALITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 76 ENTERPRISE: AUGMENTED REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 77 ENTERPRISE: AUGMENTED REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
TABLE 78 USE CASES OF AUGMENTED REALITY IN ENTERPRISE APPLICATIONS
10.2.4 HEALTHCARE
TABLE 79 HEALTHCARE: AUGMENTED REALITY MARKET, BY OFFERING, 2019–2022 (USD MILLION)
TABLE 80 HEALTHCARE: AUGMENTED REALITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 81 HEALTHCARE: AUGMENTED REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 82 HEALTHCARE: AUGMENTED REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
10.2.4.1 Surgery
10.2.4.1.1 Growing adoption of AR in surgery to enhance precision and reduce errors to boost demand
10.2.4.2 Fitness management
10.2.4.2.1 Increasing use of AR to enhance workout experiences and improve overall health and well-being to drive market
10.2.4.3 Patient care management
10.2.4.3.1 Rising focus of healthcare professionals on improving healthcare delivery and patient outcomes to support market growth
10.2.4.4 Pharmacy management
10.2.4.4.1 Need for real-time information on stock levels, expiration dates, and order history to boost demand for AR
10.2.4.5 Medical training and education
10.2.4.5.1 Need to train healthcare professionals to provide quality care to create requirement for AR technology
10.2.4.6 Others
TABLE 83 USE CASES OF AUGMENTED REALITY IN HEALTHCARE APPLICATIONS
10.2.5 AEROSPACE & DEFENSE
10.2.5.1 Increasing adoption of AR for quick aircraft identification of defects, damage, or wear to drive market
TABLE 84 AEROSPACE & DEFENSE: AUGMENTED REALITY MARKET, BY OFFERING, 2019–2022 (USD MILLION)
TABLE 85 AEROSPACE & DEFENSE: AUGMENTED REALITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 86 AEROSPACE & DEFENSE: AUGMENTED REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 87 AEROSPACE & DEFENSE: AUGMENTED REALITY, BY REGION, 2023–2028 (USD MILLION)
TABLE 88 USE CASES OF AUGMENTED REALITY IN AEROSPACE & DEFENSE APPLICATIONS
10.2.6 ENERGY
10.2.6.1 Rising focus on avoiding accidents and ensuring compliance with safety regulations to boost demand for AR in energy sector
TABLE 89 ENERGY: AUGMENTED REALITY MARKET, BY OFFERING, 2019–2022 (USD MILLION)
TABLE 90 ENERGY: AUGMENTED REALITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 91 ENERGY: AUGMENTED REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 92 ENERGY: AUGMENTED REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
TABLE 93 USE CASES OF AUGMENTED REALITY IN ENERGY APPLICATIONS
10.2.7 AUTOMOTIVE
10.2.7.1 High emphasis of automobile companies on developing smarter and more user-friendly vehicles to fuel demand for AR
TABLE 94 AUTOMOTIVE: AUGMENTED REALITY MARKET, BY OFFERING, 2019–2022 (USD MILLION)
TABLE 95 AUTOMOTIVE: AUGMENTED REALITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 96 AUTOMOTIVE: AUGMENTED REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 97 AUTOMOTIVE: AUGMENTED REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
TABLE 98 USE CASES OF AUGMENTED REALITY IN AUTOMOTIVE APPLICATIONS
10.2.8 OTHER APPLICATIONS
TABLE 99 OTHER APPLICATIONS: AUGMENTED REALITY MARKET, BY OFFERING, 2019–2022 (USD MILLION)
TABLE 100 OTHER APPLICATIONS: AUGMENTED REALITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 101 OTHER APPLICATIONS: AUGMENTED REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 102 OTHER APPLICATIONS: AUGMENTED REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
10.2.8.1 Agriculture
10.2.8.2 Construction
10.2.8.3 Transportation & logistics
10.2.8.4 Public safety
10.2.8.5 Telecom/IT data centers
TABLE 103 USE CASES OF AUGMENTED REALITY IN OTHER APPLICATIONS
10.3 VIRTUAL REALITY APPLICATIONS
FIGURE 60 VIRTUAL REALITY MARKET FOR HEALTHCARE APPLICATIONS TO GROW AT HIGHEST CAGR BETWEEN 2023 AND 2028
TABLE 104 VIRTUAL REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 105 VIRTUAL REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
10.3.1 CONSUMER
10.3.1.1 Entertainment, education, travel, and healthcare sectors to contribute to market growth
TABLE 106 CONSUMER: VIRTUAL REALITY MARKET, BY OFFERING, 2019–2022 (USD MILLION)
TABLE 107 CONSUMER: VIRTUAL REALITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 108 CONSUMER: VIRTUAL REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 109 CONSUMER: VIRTUAL REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
10.3.1.1.1 Gaming & entertainment
10.3.1.1.2 Sports
10.3.1.2 Use cases of virtual reality in consumer applications
10.3.2 COMMERCIAL
10.3.2.1 Retail and e-commerce sectors to witness high adoption of virtual reality technology for commercial applications
TABLE 110 COMMERCIAL: VIRTUAL REALITY MARKET, BY OFFERING, 2019–2022 (USD MILLION)
TABLE 111 COMMERCIAL: VIRTUAL REALITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 112 COMMERCIAL: VIRTUAL REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 113 COMMERCIAL: VIRTUAL REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
10.3.2.1.1 Retail & e-commerce
10.3.2.1.2 Education & training
10.3.2.1.3 Travel & tourism
10.3.2.1.4 Advertising
10.3.2.2 Use cases of virtual reality in commercial applications
10.3.3 ENTERPRISE (MANUFACTURING)
10.3.3.1 Gowing utilization of virtual reality in training and simulation applications to stimulate segmental growth
TABLE 114 ENTERPRISE: VIRTUAL REALITY MARKET, BY OFFERING, 2019–2022 (USD MILLION)
TABLE 115 ENTERPRISE: VIRTUAL REALITY MARKET, BY OFFERING,2023–2028 (USD MILLION)
TABLE 116 ENTERPRISE: VIRTUAL REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 117 ENTERPRISE: VIRTUAL REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
10.3.3.2 Use cases of virtual reality in enterprise (manufacturing) applications
10.3.4 HEALTHCARE
10.3.4.1 Increasing adoption of virtual reality to enhance surgical planning, training, and skill development to accelerate market growth
TABLE 118 HEALTHCARE: VIRTUAL REALITY MARKET, BY OFFERING, 2019–2022 (USD MILLION)
TABLE 119 HEALTHCARE: VIRTUAL REALITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 120 HEALTHCARE: VIRTUAL REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 121 HEALTHCARE: VIRTUAL REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
10.3.4.1.1 Surgery
10.3.4.1.2 Patient care management
10.3.4.1.3 Fitness management
10.3.4.1.4 Pharmacy management
10.3.4.1.5 Medical training and education
10.3.4.2 Use cases of virtual reality in healthcare applications
10.3.5 AEROSPACE & DEFENSE
10.3.5.1 Increasing use of VR in cockpit design and testing and virtual combat training to support market growth
TABLE 122 AEROSPACE & DEFENSE: VIRTUAL REALITY MARKET, BY OFFERING, 2019–2022 (USD MILLION)
TABLE 123 AEROSPACE & DEFENSE: VIRTUAL REALITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 124 AEROSPACE & DEFENSE: VIRTUAL REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 125 AEROSPACE & DEFENSE: VIRTUAL REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
10.3.5.2 Use cases of virtual reality in aerospace & defense applications
10.3.6 OTHER APPLICATIONS
TABLE 126 OTHER APPLICATIONS: VIRTUAL REALITY MARKET, BY OFFERING, 2019–2022 (USD MILLION)
TABLE 127 OTHER APPLICATIONS: VIRTUAL REALITY MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 128 OTHER APPLICATIONS: VIRTUAL REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 129 OTHER APPLICATIONS: VIRTUAL REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
10.3.6.1 Automotive
10.3.6.2 Real estate (architecture and building design)
10.3.6.3 Geospatial mining
10.3.6.4 Use cases of virtual reality in other applications
11 AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY REGION
11.1 INTRODUCTION
FIGURE 61 ASIA PACIFIC TO RECORD HIGHEST CAGR IN AUGMENTED REALITY MARKET DURING 2023–2028
TABLE 130 AUGMENTED REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 131 AUGMENTED REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
TABLE 132 VIRTUAL REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 133 VIRTUAL REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
11.2 NORTH AMERICA
FIGURE 63 NORTH AMERICA: AUGMENTED REALITY MARKET SNAPSHOT
TABLE 134 NORTH AMERICA: AUGMENTED REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 135 NORTH AMERICA: AUGMENTED REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 136 NORTH AMERICA: AUGMENTED REALITY MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
TABLE 137 NORTH AMERICA: AUGMENTED REALITY MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
FIGURE 64 NORTH AMERICA: VIRTUAL REALITY MARKET SNAPSHOT
TABLE 138 NORTH AMERICA: VIRTUAL REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 139 NORTH AMERICA: VIRTUAL REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 140 NORTH AMERICA: VIRTUAL REALITY MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
TABLE 141 NORTH AMERICA: VIRTUAL REALITY MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
11.2.1 US
11.2.1.1 Presence of leading tech giants to contribute to market growth
11.2.2 CANADA
11.2.2.1 Thriving tech industry to propel market
11.2.3 MEXICO
11.2.3.1 Advancing commercial & consumer sectors to stimulate market expansion
11.2.4 RECESSION IMPACT ON AUGMENTED REALITY AND VIRTUAL REALITY MARKET IN NORTH AMERICA
11.3 EUROPE
FIGURE 65 EUROPE: AUGMENTED REALITY MARKET SNAPSHOT
TABLE 142 EUROPE: AUGMENTED REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 143 EUROPE: AUGMENTED REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 144 EUROPE: AUGMENTED REALITY MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
TABLE 145 EUROPE: AUGMENTED REALITY MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
FIGURE 66 EUROPE: VIRTUAL REALITY MARKET SNAPSHOT
TABLE 146 EUROPE: VIRTUAL REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 147 EUROPE: VIRTUAL REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 148 EUROPE: VIRTUAL REALITY MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
TABLE 149 EUROPE: VIRTUAL REALITY MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
11.3.1 GERMANY
11.3.1.1 Widespread adoption of emerging technologies in manufacturing sector to drive market
11.3.2 FRANCE
11.3.2.1 High adoption of augmented reality and virtual reality in retail to boost market
11.3.3 UK
11.3.3.1 Rapid adoption of digital technologies to boost demand for AR and VR technologies
11.3.4 REST OF EUROPE
11.3.5 RECESSION IMPACT ON AUGMENTED REALITY AND VIRTUAL REALITY MARKET IN EUROPE
11.4 ASIA PACIFIC
FIGURE 67 ASIA PACIFIC: AUGMENTED REALITY MARKET SNAPSHOT
TABLE 150 ASIA PACIFIC: AUGMENTED REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 151 ASIA PACIFIC: AUGMENTED REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 152 ASIA PACIFIC: AUGMENTED REALITY MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
TABLE 153 ASIA PACIFIC: AUGMENTED REALITY MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
FIGURE 68 ASIA PACIFIC: VIRTUAL REALITY MARKET SNAPSHOT
TABLE 154 ASIA PACIFIC: VIRTUAL REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 155 ASIA PACIFIC: VIRTUAL REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 156 ASIA PACIFIC: VIRTUAL REALITY MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
TABLE 157 ASIA PACIFIC: VIRTUAL REALITY MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
11.4.1 CHINA
11.4.1.1 Substantial presence of domestic manufacturers producing augmented reality and virtual reality devices to propel market expansion
11.4.2 INDIA
11.4.2.1 Heightened awareness of cutting-edge technology to be pivotal in driving market expansion
11.4.3 JAPAN
11.4.3.1 Rapid expansion of the healthcare sector to drive market
11.4.4 SOUTH KOREA
11.4.4.1 Digital transformation within industrial sector to stimulate market growth
11.4.5 REST OF ASIA PACIFIC
11.4.6 RECESSION IMPACT ON AUGMENTED REALITY AND VIRTUAL REALITY MARKET IN ASIA PACIFIC
11.5 REST OF THE WORLD (ROW)
FIGURE 69 ROW: AUGMENTED REALITY MARKET, BY REGION
TABLE 158 ROW: AUGMENTED REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 159 ROW: AUGMENTED REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 160 ROW: AUGMENTED REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 161 ROW: AUGMENTED REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
FIGURE 70 ROW: VIRTUAL REALITY MARKET, BY REGION
TABLE 162 ROW: VIRTUAL REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
TABLE 163 ROW: VIRTUAL REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 164 ROW: VIRTUAL REALITY MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 165 ROW: VIRTUAL REALITY MARKET, BY REGION, 2023–2028 (USD MILLION)
11.5.1 MIDDLE EAST & AFRICA
11.5.1.1 Middle East & Africa to provide lucrative opportunities for AR and VR technology providers
11.5.2 SOUTH AMERICA
11.5.2.1 Expanding consumer market in South America to poise potential growth in region
11.5.3 RECESSION IMPACT ON AUGMENTED REALITY AND VIRTUAL REALITY MARKET IN ROW REGION
12 COMPETITIVE LANDSCAPE
12.1 OVERVIEW
FIGURE 71 KEY STRATEGIES UNDERTAKEN BY LEADING PLAYERS IN AUGMENTED REALITY AND VIRTUAL REALITY MARKET FROM 2021 TO 2023
12.2 MARKET SHARE AND RANKING ANALYSIS
TABLE 166 AUGMENTED REALITY AND VIRTUAL REALITY MARKET: DEGREE OF COMPETITION
FIGURE 72 MARKET SHARE OF TOP FIVE PLAYERS OFFERING AUGMENTED REALITY AND VIRTUAL REALITY TECHNOLOGIES
12.3 FIVE-YEAR COMPANY REVENUE ANALYSIS
FIGURE 73 FIVE-YEAR REVENUE ANALYSIS OF KEY COMPANIES
12.4 COMPANY EVALUATION MATRIX, 2022
FIGURE 74 AUGMENTED REALITY & VIRTUAL REALITY MARKET (GLOBAL): COMPANY EVALUATION MATRIX, 2022
12.4.1 STARS
12.4.2 EMERGING LEADERS
12.4.3 PERVASIVE PLAYERS
12.4.4 PARTICIPANTS
12.4.5 COMPANY FOOTPRINT
TABLE 167 COMPANY FOOTPRINT
TABLE 168 APPLICATION FOOTPRINT
TABLE 169 REGION FOOTPRINT
12.5 STARTUP/SME EVALUATION MATRIX, 2022
FIGURE 75 AUGMENTED REALITY & VIRTUAL REALITY (GLOBAL): STARTUP/SME EVALUATION MATRIX, 2022
12.5.1 PROGRESSIVE COMPANIES
12.5.2 RESPONSIVE COMPANIES
12.5.3 DYNAMIC COMPANIES
12.5.4 STARTING BLOCKS
12.5.5 COMPETITIVE BENCHMARKING
TABLE 170 AUGMENTED REALITY AND VIRTUAL REALITY MARKET: DETAILED LIST OF KEY STARTUPS/SMES
TABLE 171 AUGMENTED REALITY AND VIRTUAL REALITY MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUP/SMES
12.6 COMPETITIVE SCENARIO
12.6.1 PRODUCT LAUNCHES, 2022–2023
12.6.2 DEALS, 2022–2023
TABLE 172 DEALS, 2022–2023
13 COMPANY PROFILES
(Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
13.1 INTRODUCTION
13.2 KEY PLAYERS
13.2.1 GOOGLE
TABLE 173 GOOGLE: COMPANY OVERVIEW
FIGURE 76 GOOGLE: COMPANY SNAPSHOT
TABLE 174 GOOGLE: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 175 GOOGLE: PRODUCT LAUNCHES/DEVELOPMENTS
TABLE 176 GOOGLE: DEALS
13.2.2 MICROSOFT
TABLE 177 MICROSOFT: COMPANY OVERVIEW
FIGURE 77 MICROSOFT: COMPANY SNAPSHOT
TABLE 178 MICROSOFT: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 179 MICROSOFT: PRODUCT LAUNCHES/DEVELOPMENTS
TABLE 180 MICROSOFT: DEALS
13.2.3 SONY GROUP CORPORATION
TABLE 181 SONY GROUP CORPORATION: COMPANY OVERVIEW
FIGURE 78 SONY GROUP CORPORATION: COMPANY SNAPSHOT
TABLE 182 SONY GROUP CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 183 SONY GROUP CORPORATION: PRODUCT LAUNCHES/DEVELOPMENT
TABLE 184 SONY GROUP CORPORATION: DEALS
13.2.4 META
TABLE 185 META: COMPANY OVERVIEW
FIGURE 79 META: COMPANY SNAPSHOT
TABLE 186 META: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 187 META: PRODUCT LAUNCHES/DEVELOPMENTS
TABLE 188 META: DEALS
13.2.5 SAMSUNG
TABLE 189 SAMSUNG: COMPANY OVERVIEW
FIGURE 80 SAMSUNG: COMPANY SNAPSHOT
TABLE 190 SAMSUNG: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 191 SAMSUNG: PRODUCT LAUNCHES/DEVELOPMENTS
TABLE 192 SAMSUNG: DEALS
13.2.6 HTC CORPORATION
TABLE 193 HTC CORPORATION: COMPANY OVERVIEW
FIGURE 81 HTC CORPORATION: COMPANY SNAPSHOT
TABLE 194 HTC CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 195 HTC CORPORATION: PRODUCT LAUNCHES/DEVELOPMENTS
TABLE 196 HTC CORPORATION: DEALS
13.2.7 APPLE INC.
TABLE 197 APPLE INC.: COMPANY OVERVIEW
FIGURE 82 APPLE INC.: COMPANY SNAPSHOT
TABLE 198 APPLE INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 199 APPLE INC.: PRODUCT LAUNCHES/DEVELOPMENTS
TABLE 200 APPLE INC.: DEALS
13.2.8 PTC INC.
TABLE 201 PTC INC.: COMPANY OVERVIEW
FIGURE 83 PTC INC.: COMPANY SNAPSHOT
TABLE 202 PTC INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 203 PTC INC.: PRODUCT LAUNCHES/DEVELOPMENTS
TABLE 204 PTC INC.: DEALS
13.2.9 SEIKO EPSON CORPORATION
TABLE 205 SEIKO EPSON CORPORATION: COMPANY OVERVIEW
FIGURE 84 SEIKO EPSON CORPORATION: COMPANY SNAPSHOT
TABLE 206 SEIKO EPSON CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 207 SEIKO EPSON CORPORATION: PRODUCT LAUNCHES/DEVELOPMENTS
TABLE 208 SEIKO EPSON CORPORATION: DEALS
13.2.10 LENOVO
TABLE 209 LENOVO: COMPANY OVERVIEW
FIGURE 85 LENOVO: COMPANY SNAPSHOT
TABLE 210 LENOVO: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 211 LENOVO: PRODUCT LAUNCHES/DEVELOPMENTS
TABLE 212 LENOVO: DEALS
13.3 OTHER PLAYERS
13.3.1 WIKITUDE, A QUALCOMM COMPANY
13.3.2 EON REALITY
13.3.3 MAXST CO., LTD.
13.3.4 MAGIC LEAP, INC.
13.3.5 BLIPPAR GROUP LIMITED
13.3.6 ATHEER, INC
13.3.7 VUZIX
13.3.8 CYBERGLOVE SYSTEMS INC.
13.3.9 LEAP MOTIONS (ULTRALEAP)
13.3.10 PENUMBRA, INC.
13.3.11 NINTENDO
13.3.12 PSICO SMART APPS, S.L.
13.3.13 XIAOMI
13.3.14 PANASONIC CORPORATION
13.3.15 SCOPE AR
13.3.16 CONTINENTAL AG
13.3.17 VIRTUALLY LIVE
13.3.18 SPACEVR INC
13.3.19 INTEL CORPORATION
13.3.20 3D CLOUD BY MARXENT
13.3.21 WAYRAY AG
13.3.22 CRAFTARS
13.3.23 TALESPIN REALITY LABS, INC.
13.3.24 BIDON GAMES STUDIO
13.3.25 APPENTUS TECHNOLOGIES
13.3.26 BYTEDANCE
13.3.27 DPVR
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
14 APPENDIX
14.1 INSIGHTS FROM INDUSTRY EXPERTS
14.2 DISCUSSION GUIDE
14.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
14.4 CUSTOMIZATION OPTIONS
14.5 RELATED REPORTS
14.6 AUTHOR DETAILS
According to the new research report on "Augmented Reality and Virtual Reality Market by Offering (Hardware & Software), Device Type (HMD, HUD, Handheld Device, Gesture Tracking), Application (Enterprise, Consumer, Commercial, Healthcare, Automotive), and Geography - Global Forecast to 2023", the augmented reality (AR) and virtual reality (VR) market, the AR market is expected to grow from USD 11.14 Billion in 2018 to USD 60.55 Billion by 2023, at a CAGR of 40.29% between 2018 and 2023, whereas the VR market is expected to grow from USD 7.90 Billion in 2018 to USD 34.08 Billion by 2023, at a CAGR of 33.95% between 2018 and 2023. The increasing demand for AR devices in healthcare, growing demand for AR in retail and e-commerce, and rising investment in the augmented reality market are the major drivers for the augmented reality market. The high penetration of head-mounted displays in gaming and entertainment, huge investments in the VR market, advancement of technology and digitization, and availability of affordable VR devices are the major drivers of the VR market.
Major players in the augmented reality and virtual reality market are
- Sony (Japan),
- Oculus (US),
- Samsung (South Korea),
- Google (US),
- PTC (US),
- HTC (Taiwan),
- Microsoft (US),
- Wikitude (Austria),
- DAQRI (US),
- Zugara, (US),
- Blippar (UK),
- Osterhout Design Group (US),
- Magic Leap (US),
- Upskill (US),
- Continental (Germany),
- Visteon (US),
- Eon Reality (US), and
- Vuzix (US).
Head-up displays to witness high growth in the AR market during the forecast period
Head-up displays (HUDs) for the augmentation of images are presently used in automotive, and aerospace & defense sectors for training purposes; the AR market for HUDs is still in the developing phase and is likely to commercialize in the near future. The AR HUDs are likely to be used mainly for navigation in airplanes and automotive. The information such as the roadmap and the speed along with the other necessary details in the line of sight would be displayed at the windscreens and would help the driver to drive safely. The use of head-up displays for applications such as automotive, and aerospace & defense would help the market to grow at a higher rate.
Consumer application to lead the augmented reality and virtual reality market
The consumer application has been studied on the basis of gaming, sports, and entertainment sections. The augmented reality market has witnessed a high growth and leads the market owing to its use in apps. The AR gaming apps have seen widespread adoption in the last 2 years and are expected to be the major drivers for the growth of the augmented reality market. However, the consumer application leads the VR market due to the high demand for HMDs in gaming and entertainment.
APAC expected to hold a major share of the augmented reality and virtual reality market during the forecast period
APAC comprises China, Japan, India, South Korea, and Rest of APAC. Being an emerging economy, APAC is witnessing major changes in the adoption of new technologies and advancements. Owing to a large number of display panel manufacturers in the region, APAC witnesses an increasing adoption of latest technologies. The rising investments in commercial and defense applications and its security applications would also boost the growth of the AR and VR market in this region. Also, the growing healthcare and automotive market in Japan would drive the growth of AR technology.
