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Market research analysts at Technavio predict that the global mobile AR and VR apps market will grow steadily during the next four years and in terms of downloads, will post a CAGR of more than 74% by 2020. This market research analysis identifies the growth of the mobile device market in APAC as one of the primary growth factors for this market. The availability of the low-cost smartphones in countries such as India, Indonesia, and China, the rise in usage of e-commerce portals, and rapid urbanization will result in an increased adoption of mobile devices. This increased demand for smartphones and tablet computers will increase the competition among smart phone manufacturers. To sustain the competition, mobile device companies will start integrating their devices with AR technology to enhance user experience, which will in turn, drive the demand for AR and VR apps. For instance, Intel has already introduced a smartphone with an inbuilt 3D camera that can be used for augmented reality and gesture recognition.
This market research and analysis estimates that in terms of geographical regions, the Americas will be the major revenue contributor to the market by the end of the forecast period. Factors such as the availability of a number of apps for iOS and Android devices in the US and the increased penetration of smartphones will boost growth prospects for the virtual and augmented reality apps market in this region.
The market is characterized by the presence of a considerable number of vendors and appears to be fragmented. The market’s growth potential will induce several new vendors to enter the market which will intensify the level of competition in the already competitive market. Product portfolio, pricing, delivery and payment options, and policies are some of the major factors that vendors usually compete on. Major vendors are increasingly focus on investing in new technologies to manufacture innovative products and are also acquiring new players to gain innovative technologies. To sustain the competiton and increase the customer base, vendors have the need to develop new ideas and technologies and also stay informed on the latest technologies.
The leading vendors in the market are -
The other prominent vendors in the market are 8i, Alphaeon, AltspaceVR, Alchemy VR, Apple (Metaio), Blippar, CCP Games, EEVO, Facebook, Google, GoPro, High Fidelity, HTC, Improbable, Infinity Augmented Reality, Inglobe Technologies, Jaunt, Legend3D, Linden Lab, Marxent, Matterport, Movidius, MyDreamVR, NextVR, NGRAIN, Nod Labs, Reload Studios, Resolution Games, uSens, Virtalis, Virtuix, Viscira, VividWorks, VRideo, Seabery, Snaploader, Total Immersion, and WorldViz.
During 2015, the enterprises segment accounted for the major shares and dominated this market. The increased adoption of augmented reality by a number of sectors in the enterprise segment including advertising and marketing, healthcare and wellness, retail, and travel and tourism will drive the growth prospects for this market in the coming years.
This market study estimates that the gaming and entertainment segment accounted for the major market shares and dominated the market during 2015. The rise in the emergence of AR gaming hardware from major vendors such as Oculus, Sony, and Samsung Electronics, will lead to an increase in the launch of virtual reality games, subsequently aiding market growth in this segment.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by end-user
PART 07: Buying criteria
PART 08: Market segmentation by industry
PART 09: Geographical segmentation
PART 10: Key leading country
PART 11: Market drivers
PART 12: Impact of drivers
PART 13: Market challenges
PART 14: Impact of drivers and challenges
PART 15: Market trends
PART 16: Vendor landscape
PART 17: Appendix
PART 18: Explore Technavio
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