Globe Newswire
Global $ 97 billion augmented reality and virtual reality market by 2025 with Google, PTC, Microsoft, Oculus and Apple dominating
Dublin, January 8, 2021 (GLOBE NEWSWIRE) – The “Augmented Reality and Virtual Reality Market with COVID-19 Impact Analysis by Offer (Hardware & Software), Device Type (HMD, HUD, Gesture Tracking), Application (Enterprise, Consumer , Commercial, Health) and Geography – Global Forecast to 2025 Report “has been added to ResearchAndMarkets.com’s offer. The virtual reality (VR) market is expected to grow from $ 6.1 billion in 2020 to $ 20.9 billion in 2025; it is expected to grow at a 27.9% CAGR from 2020 to 2025. The Augmented Reality (Air) Market is projected to grow from $ 15.3 billion in 2020 to $ 77.0 billion in 2025; It is expected to grow at a 38.1% CAGR from 2020 to 2025. The growing demand for AR devices and applications in healthcare, the increase in investments in the AR market and the growing demand for AR in the retail sectors and e-commerce due to COVID-19 are the key factors driving the growth of the AR market. The availability of affordable VR devices, the growing adoption of HMDs in different sectors, the advancement of technologies and increasing digitization, the penetration of HMDs in the gaming and entertainment sectors after COVID-19 and the high investments in the VR market are the main ones factors driving the growth VR market. Security and privacy issues associated with AR and VR, and health issues associated with overuse of AR and VR are some of the main restrictions. The consumer app is expected to maintain its market dominance during the augmented reality forecast period. The consumer app is expected to hold the largest share of the AR market in 2020; it should also dominate the market during the forecast period. The consumer sector includes games and entertainment applications, in which AR is used in games to create 3D visual objects in the real world. The high growth of the games and sports and entertainment sector drives the growth of the AR market for consumer applications. Enterprise applications are expected to grow at the highest CAGR during the virtual reality forecast period. VR is used in the industrial vertical mainly for personnel training, providing information on industrial installation, remodeling and redesign, and industrial simulations. HMDs are used in industrial applications for design, training and simulation. Through HMDs, industrial users can be trained quickly and effectively, as they can learn real-life practices through a fully immersive and interactive virtual world. The use of HMDs is expected to grow in several areas of the industrial vertical in the coming years. North America holds a significant market share in 2020 Main players in the AR and VR market, such as Google (USA), PTC (USA), Microsoft (USA), Oculus (USA) and Apple (USA), are based in North America, which is the main factor contributing to the growth of the AR and VR market in the region. The increasing use of smartphones, the increasing adoption of smart electronic devices and the growing demand for AR and VR technology in healthcare applications are the main factors driving the growth of the AR and VR market in North America. APAC is expected to lead the AR and VR market by 2025 due to the high demand for AR and VR devices in the region and the emergence of local manufacturers in China supplying these devices at a low cost. APAC-based market participants are likely to grow with the increasing use of HMDs in the healthcare and corporate sectors. MarketDrivers DynamicsAR MarketDrivers Increased demand for AR devices and applications in healthcare Increasing demand for AR in the retail and e-commerce sectors due to COVID-19 investments The Air market restricts security and privacy issues associated with ArHealth Problems associated with overuse of Air opportunities Partnerships between telecommunications participants and Air manufacturers to reduce latency to imperceptible levels Increased demand for Air in architecture and limited Field of view Overcoming social challenges to increase the adoption rate Reconfiguring applications for different platforms VR MarketDrivers Penetration of Hmds in the gaming and entertainment sectors after COVID-19 High investments in the VR market Advancement of technologies and increasing availability of digitizing accessible VR devices Increasing adoption of Hmds in different sectors Latency display restrictions and energy consumption affect am the overall performance of Vr devices Health concerns related to low resolution and lack of movement Trade restrictions between us and China Opportunities for Hmds penetration in healthcare and architectural applications Use of Vr in aerospace and Defense for training and simulation Increased demand for Vr Hmds in healthcare due to the challenges of COVID-19 in the development of user-friendly Vr systems Adverse impact of blockages due to COVID-19 in the profiles of commercial commercial companies Key Players Google, Inc.MicrosoftSonyOculus Vr (Facebook ) Samsung ElectronicsHtcApplePtc Inc. Seiko EpsonLenovoWikitude GmbHEon RealityMaxstMagic Leap, Inc.BlipparUpskillAtheer Inc.VuzixCyberglove SystemsLeap Motion (Ultraleap) Sixense Enterprises Other Players NintendoPsiousMarxent Labs, LLCInglobe TechnologiesMeta CompanyNianticeRingMediaComputerMedia Corporation as, Inc.OptinventWayrayScope ArContinentalVisteon Corporation Start-up Players TalepspinScantaCraftarsAppentus TechnologiesBidon Games Studio For more information about this report, visit https://www.researchandmarkets.com/r/fwx3kp Research and Markets.com. , comprehensive and tailored search. CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, senior press manager [email protected] For EST business hours Call 1-917-300-0470 For USA / CAN Call 1-800-526-8630 For business hours GMT call + 353-1-416-8900