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Augmented Reality and Virtual Reality Market by Technology, Application, and Geography - Forecast and Analysis 2023-2027

  • Published: Oct 2022
  • Pages: 168
  • SKU: IRTNTR43509
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The augmented reality and virtual reality market is estimated to grow at a CAGR of 52.37% between 2022 and 2027. The size of the market is forecast to increase by USD 364557.67 million. The growth of the market depends on several factors, including the increasing demand for AR and VR technology, product launches, and the increasing number of M&A activities. 

This report extensively covers market segmentation by application (consumer and enterprise), technology (AR and VR), and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021. 

What will the Size of the Augmented Reality And Virtual Reality Market be During the Forecast Period?

Augmented Reality and Virtual Reality Market Size

Download Report Sample to Unlock Statistics About the Augmented Reality and Virtual Reality Market During the Forecast Period

Parent Market Analysis

Technavio categorizes the global augmented reality and virtual reality market as a part of the application software and within the global information technology industry. The parent global technology hardware, storage, and peripherals market covers manufacturers of cellular phones, personal computers, servers, electronic computer components, and peripherals. It also includes data storage components, motherboards, audio and video cards, monitors, keyboards, printers, and other peripherals. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.

Augmented Reality And Virtual Reality Market: Key Drivers, Trends, Challenges, and Customer Landscape

The increasing demand for AR and VR technology is notably driving the augmented reality and virtual reality market growth, although factors such as risks associated with AR and VR applications may impede the market growth. Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a decrease in demand for the market during the COVID-19 pandemic, a holistic analysis of drivers will help companies refine marketing strategies to gain a competitive advantage.   

Key Augmented Reality And Virtual Reality Market Driver

The increasing demand for AR and VR technology is notably driving the augmented reality and virtual reality market growth. Customers are increasingly adopting VR and AR technology, either for professional or private use. This adoption rate increased significantly in the last decade. An increasing number of customers are actively requesting VR solutions, whereas others are curious about VR and are seeking information about it. Therefore, the increasing demand for VR and AR technology will boost the growth of the global AR and VR market during the forecast period. Technological innovations will further 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. For instance, Google's Project Glass offers access to a variety of AR applications. The development of Android AR applications enables users to have a new experience, both for offline and online shopping. Virtual fitting rooms will help users in choosing the right size of clothing and reduce the frequency of returns. A similar benefit will be gained with regard to choosing a color for a new car or new furniture for an apartment. The growing application areas for 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 And Virtual Reality Market Trend

Growing funding in startup AR and VR companies from investors is the primary trend driving the augmented reality and virtual reality market growth. The AR and VR industry has gained the attention of vendors from diverse fields. This has led to an increase in funding for AR and VR technology from different companies as the application of AR is going beyond gaming to enterprises, healthcare, and marketing. Funding is primarily focused on display medium manufacturers and AR application developers. Funding for small startups from venture capitalists will promote technological advancements in the AR and VR market, which will boost the growth of the global AR and VR market during the forecast period. In March 2018, Magic Leap Inc. received $461 million in Series D funding from investors. Since its foundation in 2010, the company raised more than $2.3 billion in funding in March 2018 from its investors for the development of AR. The company developed a head-mounted virtual retinal display called Magic Leap One, which superimposes 3D computer-generated imagery over real-world objects by projecting a digital light field into users' eyes. Such funding will boost innovation in the global AR and VR market and drive its growth during the forecast period.

Key Augmented Reality And Virtual Reality Market Challenge

The risks associated with AR and VR applications may impede the augmented reality and virtual reality market growth. AR and VR give rise to new and different intellectual property that may contain sensitive information, which requires controls for security and privacy. High-definition 3D renderings of facilities, the detailed tracking of property and equipment locations and controls, and associated beacons, sensors, and connected footprints need appropriate protection, ranging from encryption and access controls to rights and asset management. Protecting the information that is being presented in an AR and VR world and ensuring its integrity also becomes critically important. AR and VR collect and process vast amounts of information about users and their environment. Therefore, privacy concerns are a major challenge in the global AR and VR market. Moreover, AR and VR technology can access the personal data of users and may pose a threat to their privacy. It can collect a lot of information from the users' social networking accounts. User privacy can also be threatened if hackers gain access to users' devices. Moreover, AR smart glasses are also associated with privacy-related concerns. These glasses automatically screen and process the users' environment, violating the privacy of users and those around them. The issues arising from the development and use of such products may hamper the growth of the global AR and VR market during the forecast period.

Key Augmented Reality And Virtual Reality Market Customer Landscape

Our analysis of the Life Cycle of the market indicates a movement from the innovator’s stage to the laggard’s stage. The report illustrates the lifecycle of the market, focusing on the adoption rates of the major countries including the US, China, Japan, Germany, and the UK. Technavio has included key purchase criteria, adoption rates, adoption lifecycles, and drivers of price sensitivity to help companies evaluate and develop growth strategies from 2022 to 2027.

Augmented Reality and Virtual Reality Market Share by Geography

Global Augmented Reality and Virtual Reality Market Customer Landscape

Who are the Major Augmented Reality and Virtual Reality Market Vendors?                                     

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market 

Alphabet Inc. - The company operates under multiple segments, including Google Play Services, Google Cloud, and Google AR & VR with a high focus on AR and VR. The company offers solutions for augmented reality and virtual reality experiences, which allow users to take in information and content visually. AR dramatically expands the ways in which Google's devices can help users with everyday activities like searching for information, shopping, and expressing themselves.

We also have detailed analyses of the market’s competitive landscape and offer information on 20 market vendors, including :

  • 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.
  • Toshiba Corp.
  • Vuzix Corp.
  • Zugara Inc.
  • Maxst Co. Ltd.

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak. 

What is the Fastest-Growing Segment in the Augmented Reality And Virtual Reality Market?

The market share growth by the AR segment will be significant during the forecast period. 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. Several industries are using AR for streamlining their processes, training and troubleshooting, advertising and marketing, and entertainment purposes. The rising adoption of AR technology in different application sectors is likely to propel the growth of the AR segment. 

Augmented Reality and Virtual Reality Market Size

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The AR segment showed a gradual increase in market share from USD 12251.94 million in 2017 and continued to grow by 2021. The use of AR has been steadily rising as an entertainment, gaming, and advertising platform over the last several years. The introduction of wearable AR lenses in 2014, followed by the success of Pokemon Go in 2016, boosted the adoption of AR in mainstream applications, which led to its use across different application areas, such as marketing and search. For instance, in May 2019, Google, a subsidiary of Alphabet Inc., announced AR in Search. Users can view and interact with 3D objects right from search and place them directly into the real world, giving them a sense of scale and detail. Such innovations will increase the awareness and adoption of AR among users and will drive the growth of the AR segment during the forecast period. Furthermore, our report provides a brief analysis of the historical and forecast market share and their segment along with their reasons for growth from 2017 to 2027.

The growth of this segment is primarily attributed to the increasing adoption of augmented reality and virtual reality, which is driven by an increase in the global demand for the augmented reality and virtual reality industry.

Which are the Key Regions for the Augmented Reality And Virtual Reality Market?

Augmented Reality and Virtual Reality Market Share by Geography

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APAC is projected to grow at 35% by 2027. Another region offering significant growth opportunities to vendors is North America. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

The presence of key vendors in the region is likely to augment the growth of the AR and VR market in North America. Several vendors, such as Alphabet, Facebook Inc., and Microsoft Corp., have established a strong presence in the US and are heavily investing in AR and VR technology. For instance, in October 2017, Microsoft Corp. invested in the development of Microsoft Reactor Studio in San Francisco for content creators of AR. Such investments are likely to enhance the technology and improve the results provided by applications that use AR and VR. For instance, in November 2019, Starbucks built its holiday-themed AR effects using Facebook's Spark AR and VR platform with new computer vision technology. Such investments and advancements in technology will drive the growth of the AR and VR market in the region during the forecast period. 

The rapid spread of COVID-19 impacted the economy of North America, especially the US, in 2020. Several commercial enterprises, industries, and institutions partially shut down their operations due to the imposition of lockdowns. The lockdowns in the region compelled people to work from home to mitigate the threat of COVID-19. This further increased the demand for platforms such as Microsoft Teams, Facebook, and ZOOM, which accelerated the deployment of AR and VR technology. In addition, in 2021, North America's economic conditions showed some signs of stabilizing, which was expected to spur the growth of the IT sector in the region by mid-2021. 

Segment Overview

Our report forecasts revenue growth at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by technology, application, and region.

  • Technology Outlook (USD Million, 2017 - 2027)
    • AR
    • VR
  • Application Outlook (USD Million, 2017 - 2027)
    • Consumer
    • Enterprise
  • Region Outlook (USD Million, 2017 - 2027)
    • APAC
      • China
      • India
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa
    • South America 
      • Argentina
      • Brazil

Augmented Reality And Virtual Reality Market Scope

Report Coverage

Details

Page number

120

Base year

2022

Historical year

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 52.37%

Market growth 2023-2027

USD 364557.67 million

Market structure

Fragmented

YoY growth (%)

31.83

Regional analysis

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

Competitive landscape

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., Toshiba Corp., Vuzix Corp., Wikitude GmbH, Zugara Inc., and Maxst Co. Ltd.

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, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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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

 

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Technology
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global augmented reality and virtual reality market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global augmented reality and virtual reality market 2017 - 2021 ($ million)
    • 4.2 By technology Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – By technology Segment 2017 - 2021 ($ million)
    • 4.3 By application Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – By application Segment 2017 - 2021 ($ million)
    • 4.4 By geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – By geography Segment 2017 - 2021 ($ million)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Technology

    • 6.1 Market segments
      • Exhibit 30: Chart on Technology - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Technology - Market share 2022-2027 (%)
    • 6.2 Comparison by Technology
      • Exhibit 32: Chart on Comparison by Technology
      • Exhibit 33: Data Table on Comparison by Technology
    • 6.3 AR - Market size and forecast 2022-2027
      • Exhibit 34: Chart on AR - Market size and forecast 2022-2027 ($ million)
      • Exhibit 35: Data Table on AR - Market size and forecast 2022-2027 ($ million)
      • Exhibit 36: Chart on AR - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on AR - Year-over-year growth 2022-2027 (%)
    • 6.4 VR - Market size and forecast 2022-2027
      • Exhibit 38: Chart on VR - Market size and forecast 2022-2027 ($ million)
      • Exhibit 39: Data Table on VR - Market size and forecast 2022-2027 ($ million)
      • Exhibit 40: Chart on VR - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on VR - Year-over-year growth 2022-2027 (%)
    • 6.5 Market opportunity by Technology
      • Exhibit 42: Market opportunity by Technology ($ million)

    7 Market Segmentation by Application

    • 7.1 Market segments
      • Exhibit 43: Chart on Application - Market share 2022-2027 (%)
      • Exhibit 44: Data Table on Application - Market share 2022-2027 (%)
    • 7.2 Comparison by Application
      • Exhibit 45: Chart on Comparison by Application
      • Exhibit 46: Data Table on Comparison by Application
    • 7.3 Consumer - Market size and forecast 2022-2027
      • Exhibit 47: Chart on Consumer - Market size and forecast 2022-2027 ($ million)
      • Exhibit 48: Data Table on Consumer - Market size and forecast 2022-2027 ($ million)
      • Exhibit 49: Chart on Consumer - Year-over-year growth 2022-2027 (%)
      • Exhibit 50: Data Table on Consumer - Year-over-year growth 2022-2027 (%)
    • 7.4 Enterprise - Market size and forecast 2022-2027
      • Exhibit 51: Chart on Enterprise - Market size and forecast 2022-2027 ($ million)
      • Exhibit 52: Data Table on Enterprise - Market size and forecast 2022-2027 ($ million)
      • Exhibit 53: Chart on Enterprise - Year-over-year growth 2022-2027 (%)
      • Exhibit 54: Data Table on Enterprise - Year-over-year growth 2022-2027 (%)
    • 7.5 Market opportunity by Application
      • Exhibit 55: Market opportunity by Application ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 57: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 58: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 59: Chart on Geographic comparison
      • Exhibit 60: Data Table on Geographic comparison
    • 9.3 North America - Market size and forecast 2022-2027
      • Exhibit 61: Chart on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 62: Data Table on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 63: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 64: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.4 APAC - Market size and forecast 2022-2027
      • Exhibit 65: Chart on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 66: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 67: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 68: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.5 Europe - Market size and forecast 2022-2027
      • Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.6 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 73: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 74: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 75: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 76: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.7 South America - Market size and forecast 2022-2027
      • Exhibit 77: Chart on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.8 US - Market size and forecast 2022-2027
      • Exhibit 81: Chart on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 82: Data Table on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 83: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 84: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.9 China - Market size and forecast 2022-2027
      • Exhibit 85: Chart on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 86: Data Table on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 87: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 88: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.10 Germany - Market size and forecast 2022-2027
      • Exhibit 89: Chart on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 90: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 91: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 92: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.11 UK - Market size and forecast 2022-2027
      • Exhibit 93: Chart on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 94: Data Table on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 95: Chart on UK - Year-over-year growth 2022-2027 (%)
      • Exhibit 96: Data Table on UK - Year-over-year growth 2022-2027 (%)
    • 9.12 Japan - Market size and forecast 2022-2027
      • Exhibit 97: Chart on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 98: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 99: Chart on Japan - Year-over-year growth 2022-2027 (%)
      • Exhibit 100: Data Table on Japan - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 101: Market opportunity by geography ($ million)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 102: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 103: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 104: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 105: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 106: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 107: Matrix on vendor position and classification
            • 12.3 Alphabet Inc.
              • Exhibit 108: Alphabet Inc. - Overview
              • Exhibit 109: Alphabet Inc. - Business segments
              • Exhibit 110: Alphabet Inc. - Key news
              • Exhibit 111: Alphabet Inc. - Key offerings
              • Exhibit 112: Alphabet Inc. - Segment focus
            • 12.4 Apple Inc.
              • Exhibit 113: Apple Inc. - Overview
              • Exhibit 114: Apple Inc. - Business segments
              • Exhibit 115: Apple Inc. - Key news
              • Exhibit 116: Apple Inc. - Key offerings
              • Exhibit 117: Apple Inc. - Segment focus
            • 12.5 Augmented Pixels Inc.
              • Exhibit 118: Augmented Pixels Inc. - Overview
              • Exhibit 119: Augmented Pixels Inc. - Product / Service
              • Exhibit 120: Augmented Pixels Inc. - Key offerings
            • 12.6 Blippar Ltd.
              • Exhibit 121: Blippar Ltd. - Overview
              • Exhibit 122: Blippar Ltd. - Product / Service
              • Exhibit 123: Blippar Ltd. - Key offerings
            • 12.7 CyberGlove Systems Inc.
              • Exhibit 124: CyberGlove Systems Inc. - Overview
              • Exhibit 125: CyberGlove Systems Inc. - Product / Service
              • Exhibit 126: CyberGlove Systems Inc. - Key offerings
            • 12.8 HP Inc.
              • Exhibit 127: HP Inc. - Overview
              • Exhibit 128: HP Inc. - Business segments
              • Exhibit 129: HP Inc. - Key news
              • Exhibit 130: HP Inc. - Key offerings
              • Exhibit 131: HP Inc. - Segment focus
            • 12.9 HTC Corp.
              • Exhibit 132: HTC Corp. - Overview
              • Exhibit 133: HTC Corp. - Product / Service
              • Exhibit 134: HTC Corp. - Key offerings
            • 12.10 Lenovo Group Ltd.
              • Exhibit 135: Lenovo Group Ltd. - Overview
              • Exhibit 136: Lenovo Group Ltd. - Business segments
              • Exhibit 137: Lenovo Group Ltd. - Key offerings
              • Exhibit 138: Lenovo Group Ltd. - Segment focus
            • 12.11 Magic Leap Inc.
              • Exhibit 139: Magic Leap Inc. - Overview
              • Exhibit 140: Magic Leap Inc. - Product / Service
              • Exhibit 141: Magic Leap Inc. - Key offerings
            • 12.12 Microsoft Corp.
              • Exhibit 142: Microsoft Corp. - Overview
              • Exhibit 143: Microsoft Corp. - Business segments
              • Exhibit 144: Microsoft Corp. - Key news
              • Exhibit 145: Microsoft Corp. - Key offerings
              • Exhibit 146: Microsoft Corp. - Segment focus
            • 12.13 PTC Inc.
              • Exhibit 147: PTC Inc. - Overview
              • Exhibit 148: PTC Inc. - Business segments
              • Exhibit 149: PTC Inc. - Key offerings
              • Exhibit 150: PTC Inc. - Segment focus
            • 12.14 Samsung Electronics Co. Ltd.
              • Exhibit 151: Samsung Electronics Co. Ltd. - Overview
              • Exhibit 152: Samsung Electronics Co. Ltd. - Business segments
              • Exhibit 153: Samsung Electronics Co. Ltd. - Key news
              • Exhibit 154: Samsung Electronics Co. Ltd. - Key offerings
              • Exhibit 155: Samsung Electronics Co. Ltd. - Segment focus
            • 12.15 Seiko Epson Corp.
              • Exhibit 156: Seiko Epson Corp. - Overview
              • Exhibit 157: Seiko Epson Corp. - Business segments
              • Exhibit 158: Seiko Epson Corp. - Key news
              • Exhibit 159: Seiko Epson Corp. - Key offerings
              • Exhibit 160: Seiko Epson Corp. - Segment focus
            • 12.16 Toshiba Corp.
              • Exhibit 161: Toshiba Corp. - Overview
              • Exhibit 162: Toshiba Corp. - Business segments
              • Exhibit 163: Toshiba Corp. - Key news
              • Exhibit 164: Toshiba Corp. - Key offerings
              • Exhibit 165: Toshiba Corp. - Segment focus
            • 12.17 Zugara Inc.
              • Exhibit 166: Zugara Inc. - Overview
              • Exhibit 167: Zugara Inc. - Product / Service
              • Exhibit 168: Zugara Inc. - Key offerings

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 169: Inclusions checklist
                • Exhibit 170: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 171: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 172: Research methodology
                • Exhibit 173: Validation techniques employed for market sizing
                • Exhibit 174: Information sources
              • 13.5 List of abbreviations
                • Exhibit 175: List of abbreviations
              • March 2019,
                • for product development

                  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
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                  Augmented Reality and Virtual Reality market growth will increase by $364557.67 million during 2023-2027.
                  The augmented reality and virtual reality market is expected to grow at a CAGR of 52.37% during 2023-2027.
                  Technavio has segmented the augmented reality and virtual reality market by technology (AR and VR) ,application (Consumer, Enterprise, Europe, MEA, and South America) , and geography (North America, APAC, Europe, Middle East and Africa, and South America).
                  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., Toshiba Corp., Vuzix Corp., Wikitude GmbH, Zugara Inc., Maxst Co. Ltd. are a few of the key vendors in the augmented reality and virtual reality market.
                  APAC will register the highest growth rate of 35.42% among the other regions. Therefore, the augmented reality and virtual reality market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
                  The key factors driving the augmented reality and virtual reality market growth are:
                  • Increasing demand for AR and VR technology
                  • Adoption of various business strategies by vendors
                  The augmented reality and virtual reality market vendors should focus on grabbing business opportunities from the ar segment as it accounted for the largest market share in the base year.
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