NEW YORK, Nov. 27, 2022 /PRNewswire/ -- The Augmented Reality and Virtual Reality Market by Technology, Application, and Geography - Forecast and Analysis 2023-2027 report has been published by Technavio. Market growth is estimated to accelerate at a CAGR of 52.37% and register an incremental growth of USD 364557.67 million during the forecast period. The report provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market. Download A Free PDF Sample Report
By region, the global augmented reality and virtual reality market is segmented into APAC, North America, Europe, the Middle East and Africa, and South America. APAC is estimated to contribute 35% to the growth of the global market over the forecast period. The rising adoption of smartphones and increased investments in AR and VR technologies in the retail and healthcare sectors are driving the growth of the regional market.
The augmented reality and virtual reality market report includes information on the key products and recent developments of leading vendors, including:
Alphabet Inc.: The company offers solutions for augmented reality and virtual reality experience which allows taking in information and content visually as things dramatically expand the ways on devices which can help with everyday activities like searching for information, shopping, and expressing yourself.
Apple Inc.: The company offers solutions for augmented reality and virtual reality experience which enhances the real-world environment with playful, immersive effects using LiDAR to sense depth.
Augmented Pixels Inc.: The company offers solutions for augmented reality and virtual reality which helps to connect with remote colleagues working together on holograms to resolve issues in real-time.
Blippar Ltd.: The company offers solutions for augmented reality and virtual reality which helps in better information delivery, faster knowledge transfer, modernized training methods, immediate access to remote expertise, and enhanced customer experiences.
CyberGlove Systems Inc.: The company offers solutions for augmented reality and virtual reality which uses proprietary resistive bend-sensing technology to accurately transform hand and finger motions into real-time digital joint-angle data.
Eon Reality Inc.
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The market is driven by factors such as the increasing demand for AR and VR technology, product launches, and the increasing number of M&A activities. However, high development costs associated with AR and VR apps are hindering market growth.
The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share among others. Request a Sample
By application, the market is segmented into consumer and enterprise. The consumer segment accounted for the largest share of the market in 2022.
By geography, the market is segmented into APAC, North America, Europe, the Middle East and Africa, and South America. APAC held the largest share of the market in 2022.
The augmented reality in retail market study is a comprehensive report with in-depth qualitative and quantitative research evaluating the current scenario and analyzing the growth of 39.0 and a CAGR of 41.7% with the market share increasing by USD 9.24 billion during the forecast period 2021 to 2026. The use of AR technology to make advertising more effective is notably driving augmented reality in retail market growth.
The augmented and virtual reality in healthcare market share is expected to increase by USD 6.55 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 29.13%. The growing demand for healthcare services is notably driving the augmented and virtual reality in healthcare market growth, although factors such as infrastructural and integration issues may impede the market growth.
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What are the Key Data Covered in this Augmented Reality And Virtual Reality Market Report?
CAGR of the market during the forecast period 2023-2027
Detailed information on factors that will drive the growth of the augmented reality and virtual reality market between 2023 and 2027
Precise estimation of the size of the augmented reality and virtual reality market size and its contribution to the parent market.
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the augmented reality and virtual reality industry across North America, APAC, Europe, the Middle East and Africa, and South America
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive details of factors that will challenge the growth of augmented reality and virtual reality market vendors
Augmented Reality and Virtual Reality Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 52.37%
Market growth 2023-2027
USD 364557.67 million
YoY growth (%)
APAC, North America, Europe, the Middle East and Africa, and South America
Performing market contribution
APAC at 35%
Key consumer countries
US, China, Japan, Germany, and UK
Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled
Alphabet Inc., Apple Inc., Augmented Pixels Inc., Blippar Ltd., CyberGlove Systems Inc., Eon Reality Inc., HP Inc., HTC Corp., Innovega Inc., Lenovo Group Ltd., Magic Leap Inc., Microsoft Corp., PTC Inc., Samsung Electronics Co. Ltd., Seiko Epson Corp.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
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Table of contents:
1 Executive Summary
1.1 Market overview
2 Market Landscape
2.1 Market ecosystem
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
4 Historic Market Size
4.1 Global augmented reality and virtual reality market 2017 - 2021
4.2 By technology Segment Analysis 2017 - 2021
4.3 By application Segment Analysis 2017 - 2021
4.4 By geography Segment Analysis 2017 - 2021
4.5 Country Segment Analysis 2017 - 2021
5 Five Forces Analysis
5.1 Five forces summary
5.2 Bargaining power of buyers
5.3 Bargaining power of suppliers
5.4 Threat of new entrants
5.5 Threat of substitutes
5.6 Threat of rivalry
5.7 Market condition
6 Market Segmentation by Technology
6.1 Market segments
6.2 Comparison by Technology
6.3 AR - Market size and forecast 2022-2027
6.4 VR - Market size and forecast 2022-2027
6.5 Market opportunity by Technology
7 Market Segmentation by Application
7.1 Market segments
7.2 Comparison by Application
7.3 Consumer - Market size and forecast 2022-2027
7.4 Enterprise - Market size and forecast 2022-2027
7.5 Market opportunity by Application
8 Customer Landscape
8.1 Customer landscape overview
9 Geographic Landscape
9.1 Geographic segmentation
9.2 Geographic comparison
9.3 North America - Market size and forecast 2022-2027
9.4 APAC - Market size and forecast 2022-2027
9.5 Europe - Market size and forecast 2022-2027
9.6 Middle East and Africa - Market size and forecast 2022-2027
9.7 South America - Market size and forecast 2022-2027
9.8 US - Market size and forecast 2022-2027
9.9 China - Market size and forecast 2022-2027
9.10 Germany - Market size and forecast 2022-2027
9.11 UK - Market size and forecast 2022-2027
9.12 Japan - Market size and forecast 2022-2027
9.13 Market opportunity by geography
10 Drivers, Challenges, and Trends
10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
10.4 Market trends
11 Vendor Landscape
11.2 Vendor landscape
11.3 Landscape disruption
11.4 Industry risks
12 Vendor Analysis
12.1 Vendors covered
12.2 Market positioning of vendors
12.3 Alphabet Inc.
12.4 Apple Inc.
12.5 Augmented Pixels Inc.
12.6 Blippar Ltd.
12.7 CyberGlove Systems Inc.
12.8 HP Inc.
12.9 HTC Corp.
12.10 Lenovo Group Ltd.
12.11 Magic Leap Inc.
12.12 Microsoft Corp.
12.13 PTC Inc.
12.14 Samsung Electronics Co. Ltd.
12.15 Seiko Epson Corp.
12.16 Toshiba Corp.
12.17 Zugara Inc.
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
13.3 Currency conversion rates for US$
13.4 Research methodology
13.5 List of abbreviations
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