The launch of smartphones and other smart devices is the chief driver of the global augmented reality and virtual reality market, predicts Fortune Business Insights in their recent study. The study is titled, “Augmented Reality and Virtual Reality Market: Global Market Analysis, Insights, and Forecasts, 2018 – 2025.” The market, as per the report is anticipated to reach a value of US$ 180.1 Bn by 2021 from US$ 137.9 Bn in 2018 with a remarkable CAGR.
The report provides a 360-degree overview of the market, listing various factors restricting, propelling, and obstructing the market in the forecast duration. The report also provides additional information such as interesting insights, key industry developments, detailed segmentation of the market, list of prominent players operating in the market, and other Augmented Reality and Virtual Reality Market trends. The report is available for sale on the company website.
Virtual reality produces three-dimensional images with computer-generated simulation, which is often interactive, giving users a high-performing immersive experience. Unlike augmented reality where a user gets to witness live elements in a live view form using his smartphone camera.
View press release for more details @ https://www.marketwatch.com/press-release/Augmented-Reality-and-Virtual-Reality-Market-Size-Share-Regional-Demand-Future-Scope-Challenges-and-Key-Players-Analysis-till-2026-2020-01-30
Analysis by Top Key Players:
- Samsung Electronics
- Intel Corporation
- Seiko Epson Corporation, Japan
- Vuzix Corporation
- Himax Technologies Inc.
Rising Adoption of Augmented and Virtual Reality in Healthcare to Propel Growth
The launch of unique augmented and virtual reality-based devices such as smart glasses have positively impacted the global market within a very short span of time. Innovations in this market include gaming consoles, mobile apps, along with other devices based on augmented and virtual reality. Such innovations will help the market gain generous revenues in the coming years.
Additionally, the rise in demand for augmented reality services in the healthcare sector for medical training and patient care management will also help the market gain momentum. Besides this, the online shopping trend that includes augmented reality services for e-commerce and retail services will also help the market gain faster revenues during the forecast period.
Regional Analysis for Augmented Reality and Virtual Reality Market:
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
On the flipside, augmented reality and virtual reality interfaces may face problems on the basis of a limited user interface (UI) that affects navigation performance in their applications. This may hamper the growth of the market. Furthermore, factors such as restricted memory card size, limited processing power, and less storage in the device may also restrict the market from immense growth. Besides this, the limitations faced by users in terms of proper digital network and infrastructure quality may also cause hindrance to the market in the long run.
However, the increasing trend of smart manufacturing and new opportunities created in the enterprise industry in the form of innovations in devices, game consoles, and others will bode well for the overall market. The entry of augmented and virtual reality into the entertainment and gaming sector is a major factor boosting the market.
Major Table of Contents for Augmented Reality and Virtual Reality Market:
- Executive Summary
- Market Dynamics
- Key Augmented Reality and Virtual Reality Market Insights
- Global Market Analysis, Insights and Forecast, 2015-2026
- North America Market Analysis, Insights and Forecast, 2015-2026
- Europe Market Analysis, Insights and Forecast, 2015-2026
- Asia Pacific Market Analysis, Insights and Forecast, 2015-2026
- The Middle East and Africa Market Analysis, Insights and Forecast, 2015-2026
- Latin America Market Analysis, Insights and Forecast, 2015-2026
- Competitive Landscape
- Global Augmented Reality and Virtual Reality Market Revenue Share Analysis, By Key Players, 2020
- Company Profiles
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Name: Ashwin Arora
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