Global Augmented Reality and Virtual Reality Gear Market 2017-2021
- Published: Jan 2017
- Pages: 113
- SKU: IRTNTR11769
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The global AR and VR gear market size will grow to USD 34.41 billion by 2021. This report provides an analysis of the market by technology (AR and VR), product (VR headsets, smart glasses, HMDs, and VR cardboards), end user (enterprises, military and defense, and consumers), and geography (the Americas, APAC, and EMEA). The report also provides an analysis of the market’s competitive landscape and offers information on several companies including DAQRI, Microsoft, Atheer, Meta, BAE Systems, Samsung Electronics, Oculus, HTC, Google, Sony, Razer, VisusVR, FOVE, and Starbreeze.
Below are some of the key findings from our analysis of the AR and VR gear market
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Global augmented reality (AR) and virtual reality (VR) gear market overview
The global augmented reality (AR) and virtual reality (VR) gear market research predicts the market to grow rapidly and post a CAGR of more than 37% during the forecast period. The use of AR technology for effective advertising will be a major AR and VR gear market driver in the next four years. One of the major factors responsible for the increasing adoption of AR is its ability to create opportunities for users and brands to connect with the product on a real-time basis, which, in turn, drives the purchase rate. The AR allows the customers to find the best fit by providing necessary information about any product. Furthermore, the trend for mobile advertising is increasing with the growing dependence of consumers on smartphones and tablets to carry out numerous PC functions and reach a wider and larger audience.
In terms of geography, the Americas accounted for the maximum AR and VR gear market share during 2016 and will continue to dominate the market until the end of 2021. One of the major factors responsible for the market’s growth in the region is the increased spending by the US on the defense sector and in AR and VR to have a strong base of advanced warfare gadgets. Also, it has been observed that since consumers in the US are willing to try multiple products, the rate of technology adoption is increasing.
Competitive landscape and key vendors
The global augmented reality (AR) and virtual reality (VR) gear market is highly competitive and diversified due to the presence of a large number of regional and international vendors across the globe. These vendors are increasingly focusing on gaining the confidence of their customers. Also, they are emphasizing on the development of innovative products to expand their product portfolio and customer base.
The report offers a detailed analysis of several leading companies, including:
- BAE Systems
- Samsung Electronics
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AR and VR gear market segmentation by end-user
- Military and defense
The consumer's segment accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years. One of the major factors responsible for the market segment’s growth is the large share of VR cardboards and an increased adoption of VR cardboards since they are easily available and inexpensive.
AR and VR gear market segmentation by product
- VR headsets
- Smart glasses
- VR cardboards
The VR cardboards segment accounted for the maximum market share during 2016 because these gadgets do not require any separate material and can be made from sturdy cardboard. However, the revenue generated by VR cardboards is expected to decline significantly by the end of the forecast period.
Key highlights of the global AR and VR gear market for the forecast years 2017-2021:
- CAGR of the market during the forecast period 2017-2021
- Detailed information on factors that will accelerate the growth of the AR and VR gear market during the next five years
- Precise estimation of the global AR and VR gear market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behaviour
- Growth of the AR and VR gear industry across the Americas, APAC, and EMEA
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive information about factors that will challenge the growth of AR and VR gear companies
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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.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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