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Augmented Reality and Virtual Reality Market by Technology and Geography - Forecast and Analysis 2021-2025

  • Published: Jun 2021
  • Pages: 120
  • SKU: IRTNTR43509
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The augmented reality (AR) and virtual reality (VR) market share is expected to increase by USD 162.71 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 46%.

This augmented reality (AR) and virtual reality (VR) market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers augmented reality (AR) and virtual reality (VR) market segmentation by technology (AR and VR) and geography (North America, APAC, Europe, MEA, and South America). The augmented reality (AR) and virtual reality (VR) market report also offers information on several market vendors, including Alphabet Inc., Facebook Inc., HP Inc., HTC Corp., Magic Leap Inc., Microsoft Corp., Samsung Electronics Co. Ltd., Snap Inc., Sony Corp., and Toshiba Corp. among others.

What will the Augmented Reality (AR) and Virtual Reality (VR) Market Size be During the Forecast Period?

Augmented Reality and Virtual Reality Market Size

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Augmented Reality (AR) and Virtual Reality (VR) Market: Key Drivers, Trends, and Challenges

The increasing demand for AR and VR technology is notably driving the augmented reality (AR) and virtual reality (VR) market growth, although factors such as high development costs associated with AR and VR apps may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the augmented reality (AR) and virtual reality (VR) industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Augmented Reality (AR) and Virtual Reality (VR) Market Driver

The increasing demand for VR and AR technology will boost the growth of the AR and VR market during the forecast period. An increasing number of customers are actively requesting VR solutions, whereas others are curious about VR and are seeking information about it. Technological innovations will drive the demand for AR and VR applications during the forecast period as these applications will enable users to use the technology in a more user-friendly manner. Wearable technology platforms will likely enhance the utility of AR in everyday life. The growing application area of AR and VR technology in different fields, such as education, medical, retail, and training, will further boost the growth of the global AR and VR market. 

Key Augmented Reality (AR) and Virtual Reality (VR) Market Trend

The adoption of various business strategies by vendors is another major factor supporting the augmented reality (AR) and virtual reality (VR) market share growth. The increasing number of partnerships and collaborations among vendors is likely to drive the growth of the global AR and VR market during the forecast period. Vendors are opting for diverse business strategies, such as partnerships and collaborations, with end-users and other vendors to improve and upgrade their product portfolios and explore new application areas for their AR and VR software platforms. Such strategies are expected to drive the growth of the global AR and VR market during the forecast period

This augmented reality (AR) and virtual reality (VR) market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global AR and VR market as a part of the global application software market within the global IT software market. The parent global IT software market covers companies that are engaged in developing and producing application and system software. It also includes companies offering database management software. The global application software market covers companies that are engaged in developing and producing software designed for specialized applications for the business or consumer market. It includes enterprise and technical software, as well as cloud-based software. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the augmented reality (AR) and virtual reality (VR) market during the forecast period.

Who are the Major Augmented Reality (AR) and Virtual Reality (VR) Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Alphabet Inc.
  • Facebook Inc.
  • HP Inc.
  • HTC Corp.
  • Magic Leap Inc.
  • Microsoft Corp.
  • Samsung Electronics Co. Ltd.
  • Snap Inc.
  • Sony Corp.
  • Toshiba Corp.

 

This statistical study of the augmented reality (AR) and virtual reality (VR) market encompasses successful business strategies deployed by the key vendors. The augmented reality (AR) and virtual reality (VR) market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Alphabet Inc.-The company offers AR and VR under the brand name Google AR & VR.
  • Facebook Inc-The company offers AR and VR under the brand name Oculus virtual reality products.
  • HP Inc-The company offers AR and VR under the brand names Workstation Class VR: HP Z840 Workstation, Production Class VR: HP
  • Elite 800 VR Ready PCs, Mainstream VR: HP Z440 Workstation,
  • Microsoft Corp-The company offers AR and VR under the brand names HoloLens 2 devices, HP Reverb G2 VR Headset, and Ultimate VR immersion.
  • Samsung Electronics Co. Ltd-The company offers AR and VR under the brand name Gear VR.
  • Snap Inc-The company offers AR and VR under the brand name Snap Augmented Reality.
  • Sony Corp-The company offers AR and VR under the brand name Smart AR and PlayStation VR.
  • Toshiba Corp-The company offers AR and VR under the brand name dynaEdge AR Smart Glasse

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The augmented reality (AR) and virtual reality (VR) market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Augmented Reality (AR) and Virtual Reality (VR) Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the augmented reality (AR) and virtual reality (VR) market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the augmented reality (AR) and virtual reality (VR) market includes the following core components:

  • Inputs
  • Software development process
  • Marketing and distribution
  • Post-selling services
  • Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Augmented Reality (AR) and Virtual Reality (VR) Market?

Augmented Reality and Virtual Reality Market Market segmentation by region

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34% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for augmented reality and virtual reality in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Factors such as the presence of key vendors; the growing gaming industry in Asia, especially in Japan, China, and India; and rising investments in AR and VR technologies to expand their application in different fields will facilitate the augmented reality (AR) and virtual reality (VR) market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 caused several fatalities in the region, which led to the imposition of lockdowns in many countries. The outbreak severely affected IT companies, especially startup companies. However, IT companies witnessed a surge in the adoption of cloud services, and the demand for online platforms such as Facebook, Zoom, and Microsoft Teams increased the adoption of AR and VR solutions. This is expected to accelerate the growth of the market in APAC during the forecast period.

What are the Revenue-generating Technology Segments in the Augmented Reality (AR) and Virtual Reality (VR) Market?

Augmented Reality and Virtual Reality Market Segmentation

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The augmented reality (AR) and virtual reality (VR) market share growth by the AR segment will be significant during the forecast period. Factors such as new product (hardware and software) launches, growing adoption of AR in different application areas, and rising funding and investments in AR technology are attributed to the high growth rate of the AR segment. The extensive application of AR in various fields increases its demand. Moreover, several vendors manufacture hardware, such as headsets, smart glasses, and lenses for AR technology. The rise in popularity of AR technology is driving its use in various sectors such as enterprise, retail, healthcare, media and entertainment, and education.

This report provides an accurate prediction of the contribution of all the segments to the growth of the augmented reality (AR) and virtual reality (VR) market size and actionable market insights on post COVID-19 impact on each segment.

 

Augmented Reality (AR) and Virtual Reality (VR) Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 46%

Market growth 2021-2025

$ 162.71 billion

Market structure

Fragmented

YoY growth (%)

25.13

Regional analysis

North America, APAC, Europe, MEA, and South America

Performing market contribution

APAC at 34%

Key consumer countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Alphabet Inc., Facebook Inc., HP Inc., HTC Corp., Magic Leap Inc., Microsoft Corp., Samsung Electronics Co. Ltd., Snap Inc., Sony Corp., and Toshiba Corp.

Market dynamics

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, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Augmented Reality (AR) and Virtual Reality (VR) Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive augmented reality (AR) and virtual reality (VR) market growth during the next five years
  • Precise estimation of the augmented reality (AR) and virtual reality (VR) market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the augmented reality (AR) and virtual reality (VR) industry across North America, APAC, Europe, MEA, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of augmented reality (AR) and virtual reality (VR) market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Five forces summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Technology

    • Market segments
    • Comparison by Technology
    • AR - Market size and forecast 2020-2025
    • VR - Market size and forecast 2020-2025
    • Market opportunity by Technology

    Customer landscape

    • Overview

    Geographic Landscape

    • Geographic segmentation
    • Geographic comparison
    • North America - Market size and forecast 2020-2025
    • APAC - Market size and forecast 2020-2025
    • Europe - Market size and forecast 2020-2025
    • MEA - Market size and forecast 2020-2025
    • South America - Market size and forecast 2020-2025
    • Key leading countries
    • Market opportunity by geography
    • Market drivers
    • Market challenges
    • Market trends

    Vendor Landscape

    • Overview
    • Landscape disruption

    Vendor Analysis

    • Vendors covered
    • Market positioning of vendors
    • Alphabet Inc.
    • Facebook Inc.
    • HP Inc.
    • HTC Corp.
    • Magic Leap Inc.
    • Microsoft Corp.
    • Samsung Electronics Co. Ltd.
    • Snap Inc.
    • Sony Corp.
    • Toshiba Corp.

    Appendix

    • Scope of the report
    • Currency conversion rates for US$
    • Research methodology
    • List of abbreviations

    Research Framework

    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

    TechnavioINFORMATION SOURCES

    Primary sources

    • Manufacturers and suppliers
    • Channel partners
    • Industry experts
    • Strategic decision makers

    Secondary sources

    • Industry journals and periodicals
    • Government data
    • Financial reports of key industry players
    • Historical data
    • Press releases
    Technavio

    TechnavioDATA ANALYSIS

    Data Synthesis

    • Collation of data
    • Estimation of key figures
    • Analysis of derived insights

    Data Validation

    • Triangulation with data models
    • Reference against proprietary databases
    • Corroboration with industry experts
    Technavio

    TechnavioREPORT WRITING

    Qualitative

    • Market drivers
    • Market challenges
    • Market trends
    • Five forces analysis

    Quantitative

    • Market size and forecast
    • Market segmentation
    • Geographical insights
    • Competitive landscape
    Interested in this report?
    Get your sample now!
    Augmented Reality (AR) and Virtual Reality (VR) Market market growth will increase by $162.71 bn during 2021-2025.
    The augmented reality (ar) and virtual reality (vr) market market is expected to grow at a CAGR of 46% during 2021-2025.
    Technavio has segmented the augmented reality (ar) and virtual reality (vr) market market by technology (AR and VR) and geography (North America, APAC, Europe, MEA, and South America).
    Alphabet Inc., Facebook Inc., HP Inc., HTC Corp., Magic Leap Inc., Microsoft Corp., Samsung Electronics Co. Ltd., Snap Inc., Sony Corp., Toshiba Corp. are a few of the key vendors in the augmented reality (ar) and virtual reality (vr) market market.
    APAC will register the highest growth rate of 34% among the other regions. Therefore, the augmented reality (ar) and virtual reality (vr) market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
    The key factors driving the augmented reality (ar) and virtual reality (vr) market market growth are:
    • increasing demand for AR and VR technology
    • Increasing number of M&A activities
    The augmented reality (ar) and virtual reality (vr) market market vendors should focus on grabbing business opportunities from the ar segment as it accounted for the largest market share in the base year.
    • What are the key global market and the regional market share?
    • What are the revenue-generating key market segments?
    • What are the key factors driving and challenging this market’s growth?
    • Who are the key market vendors and their growth strategies?
    • What are the latest trends influencing the growth of this market?
    • What are the variables influencing the market growth in the primary regions?
    • What are the factors influencing the growth of the parent market?
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