The Global Augmented Reality (AR) and Virtual Reality (VR) market size is expected to reach USD 237.80 Billion at a steady revenue CAGR of 35% in 2028, according to the latest analysis by Emergen Research. Growing digitization, increasing investments in AR and VR markets, rising demand for AR and VR in retail and e-commerce sectors, and surge in adoption of head-mounted displays in various industries are major factors driving market revenue growth.
The report provides an in-depth analysis of the competitive landscape, along with company profiling of key players involved in the global Augmented Reality And Virtual Reality Chips market drivers and restraints market. The authors of the report make sure to equip readers with a thorough evaluation of the vendor landscape and inform them of the current and future changes that can be expected. The competitive analysis offered in the report inspects the market share, gross margin, product portfolio, consumption, market status, and technologies of leading players controlling a significant portion of the global Augmented Reality And Virtual Reality Chips market drivers and restraints market.
Some major factors expected to hamper market growth include lack of flexibility, major functionality issues caused by hardware and software, and deterioration in human connection with the real world. Regardless of these disadvantages, various benefits and advantages of AR and VR are expected to drive deployment during the forecast period.
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Some Key Highlights From the Report
- In November 2021, Apple analyst Ming-Chi Kuo announced the arrival of Apple's AR headset in the coming years. This device could support AR and VR, as well as micro-OLED displays. With the addition of LiDAR technology on iPhone 12 Pro, Apple has already made strides in AR technology on iPhone and iPad.
- The head-mounted displays segment accounted for a significant revenue share in 2020. Traditional methods of how we look around have been altered by technological advancements, therefore internet and smartphones, combined with a head-mounted display, have been revolutionary. It enables user to move around a VR environment simply by moving head, eliminating need for a separate controller. Additionally, neutral position of head allows for a straighter and more relaxed posture, reducing fatigue caused by turning eyes, head, or body towards a monitor. These benefits are the primary reason for high penetration of head-mounted displays in the market.
- The semi and fully-immersive segment accounted for a significantly robust revenue share in 2020. Majority of companies are focused on creating immersive video games for users, who can interact with virtual world using VR headsets. Growing demand for semi- and fully-immersive VR devices is being driven by advancements in computing and electronic networking systems. Furthermore, innovations such as fully immersive VR technology-enabled head mount displays that provide a user with a 360° field of view and high resolution, are expected to drive revenue growth of this segment.
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Emergen Research has segmented the global AR and VR market based on type, device type, technology, end-use, and region:
- Type Outlook (Revenue, USD Billion; 2018–2028)
- Augmented Reality Type
- Hardware
- Software
- Services
- Hardware
- Software
- Services
- Device Type Outlook (Revenue, USD Billion; 2018–2028)
- Augmented Reality Device Type
- Head-Mounted Displays (HMDs)
- Head-Up Displays (HUDs)
- Head-Mounted Displays (HMDs)
- Gesture Control Device
- Projector and Display Wall
- Technology Outlook (Revenue, USD Billion; 2018–2028)
- Augmented Reality Technology
- Marker
- Markerless
- Non-Immersive
- Semi-Immersive
- Fully Immersive
- End-use Outlook (Revenue, USD Billion; 2018–2028)
- Aerospace and Defense
- Gaming and Entertainment
- Healthcare
- Automotive
- Enterprises
- Others
- Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Germany
- UK
- France
- Spain
- BENELUX
- Rest of Europe
- China
- India
- Japan
- South Korea
- Rest of APAC
- Brazil
- Rest of LATAM
- Saudi Arabia
- UAE
- Israel
- Rest of Middle East & Africa
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Table of Contents:
Report Overview: It includes the objectives and scope of the study and gives highlights of key market segments and players covered. It also includes years considered for the research study.
Executive Summary: It covers industry trends with high focus on market use cases and top market trends, market size by regions, and global market size. It also covers market share and growth rate by regions.
Key Players: Here, the report concentrates on mergers and acquisitions, expansions, analysis of key players, establishment date of companies, and areas served, manufacturing base, and revenue of key players.
Breakdown by Product and Application: This section provides details about market size by product and application.
Regional Analysis: All of the regions and countries analyzed in the report are studied on the basis of market size by product and application, key players, and market forecast.
Profiles of International Players: Here, players are evaluated on the basis of their gross margin, price, sales, revenue, business, products, and other company details.
Market Dynamics: It includes supply chain analysis, analysis of regional marketing, challenges, opportunities, and drivers analyzed in the report.
Appendix: It includes details about research and methodology approach, research methodology, data sources, authors of the study, and a disclaimer.
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