Augmented Reality and Virtual Reality Market Synopsis

Augmented Reality and Virtual Reality Market Size Was Valued at USD 34.80 Billion in 2023, and is Projected to Reach USD 94.96 Billion by 2032, Growing at a CAGR of 11.80% From 2024-2032.

The augmented reality (AR) and virtual reality (VR) market includes the fast-developing area that covers the creation of technologies enabling participants to communicate with objects within computer-simulated spaces. Actually, augmented reality is the technology whereby digital information is overlaid on a real-world environment, or in other words, adds some sense of reality to what is virtual, in the general sense, by integrating the use of virtual reality arranged and, most ordinarily, managed with the help of smart phones and AR glasses. Whereas augmented reality places computer graphics and information on a top of a real world environment, incorporating attributes of a physical world, virtual reality creates environments totally developed by computers that may be experienced through a headset where the user indirectly interacts with artificial surroundings. Hardware segment comprises the headset, sensors,controllers, gloves and all others while the software segment is inclusive of games, entertainment and learning applications in health, business training and in other fields. Strengthening technology and while demand for AR and VR apps is rising across industries, both technologies are becoming even more popular, offering unique and innovative experiences and opportunities for people around the world.

  • The Augmented Reality (AR) and Virtual Reality (VR) market in particular remains to grow at rather unthinkable pace, due to advancements in technology and increasing sectors of usage. AR, which puts digital details on top of the physical environment, and VR, which puts people inside fake worlds, are now transforming the way companies engage with consumers and employees. The popularity of smartphones and affordable consumer VR devices continue to expand, and AR and VR applications are rapidly growing consumer domains include gaming, entertainment, and social media.
  • In addition, the increased popularity of AR and VR increases the use of these technologies in commercial enterprises to engage customers, automate operations, and train employees. People are using AR & VR for sales and training paradigms, starting from showing off the product and teaching how it is used to providing a virtual training process for a product. The areas most promising for integration with AR and VR technologies are healthcare, education, automotive industry, and retail since the solutions based on the application of these technologies allow for new visualization of data, remote collaboration, and individual interaction with the client.
  • The COVID-19 virus has also pushed the application of AR and VR even further as working remotely has become the new reality. Immersive technologies were adopted to complement the limitations imposed by the social distancing protocols and facilitate collaboration of members in virtual spaces, extend original remote training and support. Since companies continue to increase their spending on digital change, particularly on AR and VR, market levels are thought to attain paramount heights in the future years.
  • Nevertheless, numerous constraints like expensive development, constraints related to the hardwareComposer, lack of faith andربوoughs in data privacy and data security, are still considered as some of the major obstacles that have kept the state from popularizing this technique at the desired extent. Solving these issues will remain essential for making the most of AR and VR and integrating these technologies into people’s lives. Nonetheless, the prospect of the future of both Augmented Reality and Virtual Reality looks quite bright as innovation goes on to create new applications of both of these tools in unexpected fields. AR and VR is something that both companies and clients are starting to jump on as the future of interaction and sales; therefore, the market has the chance to grow and develop even in the future years.

Augmented Reality and Virtual Reality Market Trend Analysis

Transforming Healthcare and Retail Experiences

  • In the field of healthcare AR has found its place as a revolutionary tool changing the perception of clinicians toward operating procedures, education/training and treatment. The most effective use of AR in health care that I’ve come across applies in the surgical procedures whereby the surgeon is able to show the actual imaging data of a patient directly on the body of the patient in surgery. This new technology expounds the surgeons’ vision, their precision besides availing them improved decision making and thereby improving the surgery’s success rates and consequently, the patient’s successes. Further, AR has been finding the use in medical education, as students using virtual simulators get to make practice runs in situ, thus enhance their performance when handling real procedures, in the operating room for instance. Also, AR is being applied in patient care since physicians can better illustrate medical disorders and state the inevitable or outcomes of certain actions to patients, resulting in improved understanding, compliance with therapy regimens, and satisfaction with the received services.
  • AR applications in the retail sector have shifted the customer experience since it has closed the gap between the online and offline shopping experiences. This way, with the help of augmented reality the customers can see and feel how the product they would like to purchase would actually look in their real environment. For instance, furniture vendors are using AR to let their consumers try out the furniture pieces virtually by placing the piece in the consumer’s home and determine its placement and appearance amongst other pieces. Other beauty brands are there using augmented reality to provide customers with the touch of how the makeup items they are planning to buy will look like on their face. This does not only make the shopping experience even better but also helps in extremely limited returns and even happier costumers. Additionally, there is more and more AR-based interactive showcases and billboards in the purchasing centers, which intrude shoppers’ vision and engage them through providing unique experiences according to their likes and dislikes. With progress of the AR, its application in retail environments will continue to evolve the face and nature of consumer-product brand engagements.

Expanding Horizons

  • Virtual reality or VR has dug itself into a central pedestal in gaming and entertainment platforms to transform lives by offering incredible and sensational interactivity for the heart’s desires. Yet, the most captivating is that with True VR the entertainment is far from being everything: applications of True VR encompass almost all areas of activity in changing the approach to training and simulation. For example, in aviation, automobile, and defense industries, VR is emerging as powerful means to train a personnel for potential actual scenarios that would require massive models, mock-ups, or place an individual in dangerous situations. Through the use of VR training, it is possible for the trainee to be exposed to actual situation and learn in a real-life like environment without having to spend a lot of time, effort and risk the lives of so many people Therefore, through VR training, proficiency is exercised and boosted and preparedness evaluated for actual conduct.
  • In addition, VR is gradually entering the sphere of mental disorders treatment as a promising tool in the process of psychotherapy. By directly exposing users to realistic environments, VR therapy exposes people to stimuli that would have otherwise triggered their condition and the use of virtual reality offers a realistic way of handling such a case. Apart from that, VR used as mindfulness and relaxation training is also helpful in coping with stress and stabilizing the emotional state, thus, helps people to have a better control over psychological wellbeing. The use of VR therapy objectives the treatment according to a specific patient’s case by case need making the treatment programs more effective and efficient thus enhancing accessibility of mental health services. As basic and applied research on VR therapy expands, there aims to bring gradual revolution through using virtual reality as a therapeutic medium in the mental health domain for patients who are trying to find help and treatment.

Augmented Reality and Virtual Reality Market Segment Analysis:

Augmented Reality and Virtual Reality Market is segmented based on Technology Type, End-user Type, application, Device and Component.

By Technology Type, Virtual Reality (VR) segment is expected to dominate the market during the forecast period

  • Virtual Reality or VR, as a primary fully immersive technology, has found its place in different sectors of the commercial world. With regards to application in the gaming business, the possibilities of Virtual Reality are still hot for they break the niche’s conventions and provide players with a completely new level of gameplay. Once again, players can actually be in worlds and not just watch the game as characters or watch them play the game but be part of it. Regardless of the pulse-evoking action sequences, the intricate mazes, and the brain combusting challenges, VR game experiences place a user in worlds where one’s actions are the defining factors, control that other forms of gaming platforms just cannot deliver. This change in gaming has not only entertained the people but also challenged game developers who have never relent in exploring new horizons for virtual reality.
  • However, the result of VR even has gone beyond the entertainment domain that it have influenced key areas of human life such as healthcare and engineering. In the field of health care, Virtual Reality technologies have appeared as effective training facilities for many specialists and as virtual models for complicated procedures. Surgical operations that require special skills and technique can be rehearsed in simulations hence no risk patients will be exposed to. Likewise, VR enables hands-on and contextually accurate perceptions by medical students of anatomical structures or medical events that take place in real life. In engineering, visualization and simulation made possible by VR has revolutionized the product development process. It can be also useful for engineers to model and simulate designs, to find out negative aspects and prepone optimization before practical implementation, decreasing cost and time to market. In the end, the role that VR plays in popular business sectors demonstrates that this technology has the ability to drastically change numerous fields, and how people and things interface with rapidly evolving computer technologies.

By Device, Handheld devices segment held the largest share in 2023

  • Mobile devices such as smart phones and tablet are the primary mode through which consumer is accessing Augmented reality (AR) and Virtual reality (VR) applications and hence it holds the largest marketshare in the overall Immersive technology market. Due to their widespread presence in consumers’ lives, along with the constantly developing specifications of hardware, AR and VR content is becoming more widespread and welcoming to as broad an audience as possible. People感到comfort,安全的interaction with AR because app installation or Web-based AR experiences allow the seamless integration of ambiental elements or avatars into real-life environement or virtual reality simulators. The mentioned accessibility has given the AR/VR’s greatly expanded reach beyond the previously-defined market and appealed to a much wider audience with no constraints in terms of age, geographical location, etc.
  • Handheld devices as the primary devices for AR and VR experiences are followed by the complimentary feature of portability. Compared with such devices as dedicated VR headset of AR glasses which perhaps demand additional cost and specific hardware, such as a headset, smartphones and tablets are the devices that citizens possess and use as common tools. This inherent convenience makes these devices become natural points of entry for those interested in trying the experiences and content accessible through VR and AR technology. From simply browsing virtual galleries to virtually applying makeup, or transforming certain games into AR and VR experiences, users are able to try an AR or VR experience without the use of professional equipment. It not only reduces entry costs and improved compatibility with daily activities, but also ensures that immersion technology may be incorporated into the regular lives of people with the boom of new media as a new type of entertainment, communication, and interaction.

Augmented Reality and Virtual Reality Market Regional Insights:

Asia-Pacific is Expected to Dominate the Market Over the Forecast period

  • With reference to the Asia-Pacific region, China takes the largest share of the global investment and innovations in the field of AR and VR. China has a population of over 1.4 billion, and has the largest growing middle class in the world enticed with new technologies. This need has driven the market of AR and VR, more and more Chinese consumers look forward to experiencing the games and entertainment and education by the use of such technologies. Furthermore, a specific focus always lies on the governmental support, generally, and the ongoing plan of ‘Made in China 2025’ that underlines the expansion of the augmented reality and virtual reality technologies among other innovative industries. While China has stringent regulations into the technology sector, the competitiveness, which the regulations foster has made companies such as Tencent, Alibaba, and Huawei geared towards AR and VR technologies. These tech companies apart from profiting out of the entertainment segment have expanded their services to the aspects of e-commerce, health care and manufacturing with the assistance of AR and VR in modifying the customer experience, operations and business progress.
  • At the same time, Japan and South Korea form the larger part of the Asia-Pacific market for AR and VR owing to its strong and innovative technology developed by their economies. Japanese electronics giants spanning Sony and Panasonic have therefore stood out as early innovators of the advanced VR equipment and applications across the consumer and business worlds. The same way South Korean electronics companies like Samsung and LG have invested in AR and VR particularly in their games and entertainment industry. Research and development are given priority, with the collaboration of renowned industry pioneers of AR and VR, the Asia Pacific’s Japan and South Korea are rapidly emerging as leaders in the immersive technology revolution.

Active Key Players in the Augmented Reality and Virtual Reality Market

  • Google (US),
  • Microsoft (US),
  • Sony Group Corporation (Japan),
  • META (US),
  • SAMSUNG (South Korea),
  • HTC Corporation (Taiwan),
  • Apple Inc. (US),
  • PTC Inc. (US),
  • Seiko Epson Corporation (Japan),
  • Lenovo (China),
  • Wikitude, a Qualcomm company (Austria),
  • EON Reality (US),
  • MAXST Co., Ltd. (South Korea),
  • Magic Leap, Inc. (US),
  • Blippar Group Limited(UK),
  • Atheer, Inc (US),
  • Vuzix (US),
  • CyberGlove Systems Inc. (US),
  • Leap Motions (Ultraleap) (US),
  • Penumbra, Inc. (US)
  • Other Key Players

Key Industry Developments in the Augmented Reality and Virtual Reality Market:

  • In July 2023, Google and Taito are collaborating to create Space Invaders, an immersive AR game in which you may protect the Earth from your neighborhood. The game is driven by our ARCore and Geospatial APIs, which design entertaining levels in the real world with AR and on the screen solely with 3D using the player's immediate surroundings as well as adjacent buildings, landscapes, and other architectural aspects.
  • In June 2023, Apple introduced the Apple Vision Pro, an innovative spatial computer that effortlessly merges digital content with the real world, enabling users to remain engaged and connected with others. Vision Pro establishes an expansive platform for applications that extends beyond the limitations of a conventional screen, introducing a completely three-dimensional user interface driven by the most instinctive and natural inputs available — a user's gaze, gestures, and voice.
  • In June 2023, PTC and Rockwell Automation extended their collaboration, with a particular emphasis on encouraging manufacturing companies to embrace the Internet of Things (IoT) and augmented reality (AR) software. Rockwell Automation will persist in offering PTC's ThingWorx IoT software and Vuforia AR software to both current and prospective customers in the discrete and process manufacturing sectors

Global Augmented Reality and Virtual Reality Market

Base Year:

2023

Forecast Period:

2024-2032

Historical Data:

2017 to 2023

Market Size in 2023:

USD 34.80 Bn.

Forecast Period 2024-32 CAGR:

11.80%

Market Size in 2032:

USD 94.96 Bn.

Segments Covered:

By Technology Type

  • Augmented Reality (AR)
  • Virtual Reality (VR)

By End-user Type

  • Commercial
  • Consumer

By  application

  • Gaming
  • Media & Entertainment
  • Real Estate
  • Education
  • Retail
  • Healthcare
  • Engineering
  • Others

By Device

  • Head Mounted Display
  • Handheld Devices
  • Head-up display
  • Smartglasses
  • Others

By Component

  • Hardware
    • Display
    • Processor
    • Sensors
    • User interface ICs
    • Power Management ICs
    • Others
  • Software
  • Services

By Region

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Technological Advancements

Key Market Restraints:

  • Privacy and security concerns related to AR

Key Opportunities:

  • Crafting dynamic consumer experiences and immersive campaigns

Companies Covered in the report:

  • Google (US), Microsoft (US), Sony Group Corporation (Japan), META (US), SAMSUNG (South Korea), HTC Corporation (Taiwan), Apple Inc. (US), PTC Inc. (US), Seiko Epson Corporation (Japan), Lenovo (China), Wikitude, a Qualcomm company (Austria), EON Reality (US), MAXST Co., Ltd. (South Korea), Magic Leap, Inc. (US), Blippar Group Limited(UK), Atheer, Inc (US), Vuzix (US), CyberGlove Systems Inc. (US), Leap Motions (Ultraleap) (US), Penumbra, Inc. (US)XX, and Other Major Players.
  1. INTRODUCTION
    1. RESEARCH OBJECTIVES
    2. RESEARCH METHODOLOGY
    3. RESEARCH PROCESS
    4. SCOPE AND COVERAGE
      1. Market Definition
      2. Key Questions Answered
    5. MARKET SEGMENTATION
  2. EXECUTIVE SUMMARY
  3. MARKET OVERVIEW
  4. GROWTH OPPORTUNITIES BY SEGMENT
  5. MARKET LANDSCAPE
    1. PORTER’S FIVE FORCES ANALYSIS
      1. Bargaining Power Of Supplier
      2. Threat Of New Entrants
      3. Threat Of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power Among Buyers
    2. INDUSTRY VALUE CHAIN ANALYSIS
    3. MARKET DYNAMICS
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
    4. MARKET TREND ANALYSIS
    5. REGULATORY LANDSCAPE
    6. PESTLE ANALYSIS
    7. PRICE TREND ANALYSIS
    8. PATENT ANALYSIS
    9. TECHNOLOGY EVALUATION
    10. MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
      1. Geopolitical Market Disruptions
      2. Supply Chain Disruptions
      3. Instability in Emerging Markets
    11. ECOSYSTEM
  6. AUGMENTED REALITY AND VIRTUAL REALITY MARKET BY TECHNOLOGY TYPE (2017-2032)
    1. AUGMENTED REALITY AND VIRTUAL REALITY MARKET SNAPSHOT AND GROWTH ENGINE
    2. MARKET OVERVIEW
    3. AUGMENTED REALITY (AR)
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2032F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
    4. VIRTUAL REALITY (VR)
  7. AUGMENTED REALITY AND VIRTUAL REALITY MARKET BY END-USER TYPE (2017-2032)
    1. AUGMENTED REALITY AND VIRTUAL REALITY MARKET SNAPSHOT AND GROWTH ENGINE
    2. MARKET OVERVIEW
    3. COMMERCIAL
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2032F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
    4. CONSUMER
  8. AUGMENTED REALITY AND VIRTUAL REALITY MARKET BY APPLICATION (2017-2032)
    1. AUGMENTED REALITY AND VIRTUAL REALITY MARKET SNAPSHOT AND GROWTH ENGINE
    2. MARKET OVERVIEW
    3. GAMING
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2032F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
    4. MEDIA & ENTERTAINMENT
    5. REAL ESTATE
    6. EDUCATION
    7. RETAIL
    8. HEALTHCARE
    9. ENGINEERING
    10. OTHERS
  9. AUGMENTED REALITY AND VIRTUAL REALITY MARKET BY DEVICE (2017-2032)
    1. AUGMENTED REALITY AND VIRTUAL REALITY MARKET SNAPSHOT AND GROWTH ENGINE
    2. MARKET OVERVIEW
    3. HEAD MOUNTED DISPLAY
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2032F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
    4. HANDHELD DEVICES
    5. HEAD-UP DISPLAY
    6. SMARTGLASSES
    7. OTHERS
  10. AUGMENTED REALITY AND VIRTUAL REALITY MARKET BY COMPONENT (2017-2032)
    1. AUGMENTED REALITY AND VIRTUAL REALITY MARKET SNAPSHOT AND GROWTH ENGINE
    2. MARKET OVERVIEW
    3. HARDWARE
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2032F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
    4. SOFTWARE
    5. SERVICES
  11. COMPANY PROFILES AND COMPETITIVE ANALYSIS
    1. COMPETITIVE LANDSCAPE
      1. Competitive Positioning
      2. AUGMENTED REALITY AND VIRTUAL REALITY Market Share By Manufacturer (2023)
      3. Industry BCG Matrix
      4. Heat Map Analysis
      5. Mergers & Acquisitions
    2. GOOGLE (US)
      1. Company Overview
      2. Key Executives
      3. Company Snapshot
      4. Role of the Company in the Market
      5. Sustainability and Social Responsibility
      6. Operating Business Segments
      7. Product Portfolio
      8. Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
      9. Key Strategic Moves And Recent Developments
      10. SWOT Analysis
    3. MICROSOFT (US),
    4. SONY GROUP CORPORATION (JAPAN),
    5. META (US),
    6. SAMSUNG (SOUTH KOREA),
    7. HTC CORPORATION (TAIWAN),
    8. APPLE INC. (US),
    9. PTC INC. (US),
    10. SEIKO EPSON CORPORATION (JAPAN),
    11. LENOVO (CHINA),
    12. WIKITUDE, A QUALCOMM COMPANY (AUSTRIA),
    13. EON REALITY (US),
    14. MAXST CO., LTD. (SOUTH KOREA),
    15. MAGIC LEAP, INC. (US),
    16. BLIPPAR GROUP LIMITED(UK),
    17. ATHEER, INC (US),
    18. VUZIX (US),
    19. CYBERGLOVE SYSTEMS INC. (US),
    20. LEAP MOTIONS (ULTRALEAP) (US),
    21. PENUMBRA, INC. (US)
  12. GLOBAL AUGMENTED REALITY AND VIRTUAL REALITY MARKET BY REGION
    1. OVERVIEW
    2. NORTH AMERICA
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Technology Type
      4. Historic And Forecasted Market Size By End-user Type
      5. Historic And Forecasted Market Size By Application
      6. Historic And Forecasted Market Size By Device
      7. Historic And Forecasted Market Size By Component
      8. Historic And Forecasted Market Size By Country
        1. USA
        2. Canada
        3. Mexico
    3. EASTERN EUROPE
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
        1. Russia
        2. Bulgaria
        3. The Czech Republic
        4. Hungary
        5. Poland
        6. Romania
        7. Rest Of Eastern Europe
    4. WESTERN EUROPE
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
        1. Germany
        2. United Kingdom
        3. France
        4. The Netherlands
        5. Italy
        6. Spain
        7. Rest Of Western Europe
    5. ASIA PACIFIC
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Malaysia
        6. Thailand
        7. Vietnam
        8. The Philippines
        9. Australia
        10. New-Zealand
        11. Rest Of APAC
    6. MIDDLE EAST & AFRICA
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
        1. Turkey
        2. Bahrain
        3. Kuwait
        4. Saudi Arabia
        5. Qatar
        6. UAE
        7. Israel
        8. South Africa
    7. SOUTH AMERICA
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
        1. Brazil
        2. Argentina
        3. Rest of South America
  13. INVESTMENT ANALYSIS
  14. ANALYST VIEWPOINT AND CONCLUSION
    1. Recommendations and Concluding Analysis
    2. Potential Market Strategies

Global Augmented Reality and Virtual Reality Market

Base Year:

2023

Forecast Period:

2024-2032

Historical Data:

2017 to 2023

Market Size in 2023:

USD 34.80 Bn.

Forecast Period 2024-32 CAGR:

11.80%

Market Size in 2032:

USD 94.96 Bn.

Segments Covered:

By Technology Type

  • Augmented Reality (AR)
  • Virtual Reality (VR)

By End-user Type

  • Commercial
  • Consumer

By  application

  • Gaming
  • Media & Entertainment
  • Real Estate
  • Education
  • Retail
  • Healthcare
  • Engineering
  • Others

By Device

  • Head Mounted Display
  • Handheld Devices
  • Head-up display
  • Smartglasses
  • Others

By Component

  • Hardware
    • Display
    • Processor
    • Sensors
    • User interface ICs
    • Power Management ICs
    • Others
  • Software
  • Services

By Region

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Technological Advancements

Key Market Restraints:

  • Privacy and security concerns related to AR

Key Opportunities:

  • Crafting dynamic consumer experiences and immersive campaigns

Companies Covered in the report:

  • Google (US), Microsoft (US), Sony Group Corporation (Japan), META (US), SAMSUNG (South Korea), HTC Corporation (Taiwan), Apple Inc. (US), PTC Inc. (US), Seiko Epson Corporation (Japan), Lenovo (China), Wikitude, a Qualcomm company (Austria), EON Reality (US), MAXST Co., Ltd. (South Korea), Magic Leap, Inc. (US), Blippar Group Limited(UK), Atheer, Inc (US), Vuzix (US), CyberGlove Systems Inc. (US), Leap Motions (Ultraleap) (US), Penumbra, Inc. (US)XX, and Other Major Players.

LIST OF TABLES

TABLE 001. EXECUTIVE SUMMARY
TABLE 002. AUGMENTED REALITY AND VIRTUAL REALITY MARKET BARGAINING POWER OF SUPPLIERS
TABLE 003. AUGMENTED REALITY AND VIRTUAL REALITY MARKET BARGAINING POWER OF CUSTOMERS
TABLE 004. AUGMENTED REALITY AND VIRTUAL REALITY MARKET COMPETITIVE RIVALRY
TABLE 005. AUGMENTED REALITY AND VIRTUAL REALITY MARKET THREAT OF NEW ENTRANTS
TABLE 006. AUGMENTED REALITY AND VIRTUAL REALITY MARKET THREAT OF SUBSTITUTES
TABLE 007. AUGMENTED REALITY AND VIRTUAL REALITY MARKET BY COMPONENT
TABLE 008. HARDWARE MARKET OVERVIEW (2016-2028)
TABLE 009. SOFTWARE MARKET OVERVIEW (2016-2028)
TABLE 010. AUGMENTED REALITY AND VIRTUAL REALITY MARKET BY DEVICE TYPE
TABLE 011. HEAD MOUNTED DISPLAY MARKET OVERVIEW (2016-2028)
TABLE 012. HEADS UP DISPLAY MARKET OVERVIEW (2016-2028)
TABLE 013. HANDHELD DEVICES MARKET OVERVIEW (2016-2028)
TABLE 014. STATIONARY AR SYSTEMS MARKET OVERVIEW (2016-2028)
TABLE 015. SMART GLASSES MARKET OVERVIEW (2016-2028)
TABLE 016. OTHERS MARKET OVERVIEW (2016-2028)
TABLE 017. AUGMENTED REALITY AND VIRTUAL REALITY MARKET BY INDUSTRY
TABLE 018. GAMING MARKET OVERVIEW (2016-2028)
TABLE 019. MEDIA & ENTERTAINMENT MARKET OVERVIEW (2016-2028)
TABLE 020. AUTOMOTIVE MARKET OVERVIEW (2016-2028)
TABLE 021. RETAIL MARKET OVERVIEW (2016-2028)
TABLE 022. HEALTHCARE MARKET OVERVIEW (2016-2028)
TABLE 023. EDUCATION MARKET OVERVIEW (2016-2028)
TABLE 024. MANUFACTURING MARKET OVERVIEW (2016-2028)
TABLE 025. OTHERS MARKET OVERVIEW (2016-2028)
TABLE 026. NORTH AMERICA AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY COMPONENT (2016-2028)
TABLE 027. NORTH AMERICA AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY DEVICE TYPE (2016-2028)
TABLE 028. NORTH AMERICA AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY INDUSTRY (2016-2028)
TABLE 029. N AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY COUNTRY (2016-2028)
TABLE 030. EUROPE AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY COMPONENT (2016-2028)
TABLE 031. EUROPE AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY DEVICE TYPE (2016-2028)
TABLE 032. EUROPE AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY INDUSTRY (2016-2028)
TABLE 033. AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY COUNTRY (2016-2028)
TABLE 034. ASIA PACIFIC AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY COMPONENT (2016-2028)
TABLE 035. ASIA PACIFIC AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY DEVICE TYPE (2016-2028)
TABLE 036. ASIA PACIFIC AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY INDUSTRY (2016-2028)
TABLE 037. AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY COUNTRY (2016-2028)
TABLE 038. MIDDLE EAST & AFRICA AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY COMPONENT (2016-2028)
TABLE 039. MIDDLE EAST & AFRICA AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY DEVICE TYPE (2016-2028)
TABLE 040. MIDDLE EAST & AFRICA AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY INDUSTRY (2016-2028)
TABLE 041. AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY COUNTRY (2016-2028)
TABLE 042. SOUTH AMERICA AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY COMPONENT (2016-2028)
TABLE 043. SOUTH AMERICA AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY DEVICE TYPE (2016-2028)
TABLE 044. SOUTH AMERICA AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY INDUSTRY (2016-2028)
TABLE 045. AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY COUNTRY (2016-2028)
TABLE 046. GOOGLE: SNAPSHOT
TABLE 047. GOOGLE: BUSINESS PERFORMANCE
TABLE 048. GOOGLE: PRODUCT PORTFOLIO
TABLE 049. GOOGLE: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 049. PTC: SNAPSHOT
TABLE 050. PTC: BUSINESS PERFORMANCE
TABLE 051. PTC: PRODUCT PORTFOLIO
TABLE 052. PTC: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 052. APPLE: SNAPSHOT
TABLE 053. APPLE: BUSINESS PERFORMANCE
TABLE 054. APPLE: PRODUCT PORTFOLIO
TABLE 055. APPLE: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 055. SONY: SNAPSHOT
TABLE 056. SONY: BUSINESS PERFORMANCE
TABLE 057. SONY: PRODUCT PORTFOLIO
TABLE 058. SONY: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 058. SAMSUNG ELECTRONICS: SNAPSHOT
TABLE 059. SAMSUNG ELECTRONICS: BUSINESS PERFORMANCE
TABLE 060. SAMSUNG ELECTRONICS: PRODUCT PORTFOLIO
TABLE 061. SAMSUNG ELECTRONICS: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 061. MICROSOFT: SNAPSHOT
TABLE 062. MICROSOFT: BUSINESS PERFORMANCE
TABLE 063. MICROSOFT: PRODUCT PORTFOLIO
TABLE 064. MICROSOFT: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 064. HTC: SNAPSHOT
TABLE 065. HTC: BUSINESS PERFORMANCE
TABLE 066. HTC: PRODUCT PORTFOLIO
TABLE 067. HTC: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 067. OCULUS: SNAPSHOT
TABLE 068. OCULUS: BUSINESS PERFORMANCE
TABLE 069. OCULUS: PRODUCT PORTFOLIO
TABLE 070. OCULUS: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 070. SEIKO EPSON: SNAPSHOT
TABLE 071. SEIKO EPSON: BUSINESS PERFORMANCE
TABLE 072. SEIKO EPSON: PRODUCT PORTFOLIO
TABLE 073. SEIKO EPSON: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 073. LENOVO: SNAPSHOT
TABLE 074. LENOVO: BUSINESS PERFORMANCE
TABLE 075. LENOVO: PRODUCT PORTFOLIO
TABLE 076. LENOVO: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 076. WIKITUDE: SNAPSHOT
TABLE 077. WIKITUDE: BUSINESS PERFORMANCE
TABLE 078. WIKITUDE: PRODUCT PORTFOLIO
TABLE 079. WIKITUDE: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 079. MAGIC LEAP: SNAPSHOT
TABLE 080. MAGIC LEAP: BUSINESS PERFORMANCE
TABLE 081. MAGIC LEAP: PRODUCT PORTFOLIO
TABLE 082. MAGIC LEAP: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 082. BLIPPAR: SNAPSHOT
TABLE 083. BLIPPAR: BUSINESS PERFORMANCE
TABLE 084. BLIPPAR: PRODUCT PORTFOLIO
TABLE 085. BLIPPAR: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 085. UPSKILL: SNAPSHOT
TABLE 086. UPSKILL: BUSINESS PERFORMANCE
TABLE 087. UPSKILL: PRODUCT PORTFOLIO
TABLE 088. UPSKILL: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 088. MAXST: SNAPSHOT
TABLE 089. MAXST: BUSINESS PERFORMANCE
TABLE 090. MAXST: PRODUCT PORTFOLIO
TABLE 091. MAXST: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 091. EON REALITY: SNAPSHOT
TABLE 092. EON REALITY: BUSINESS PERFORMANCE
TABLE 093. EON REALITY: PRODUCT PORTFOLIO
TABLE 094. EON REALITY: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 094. VUZIX: SNAPSHOT
TABLE 095. VUZIX: BUSINESS PERFORMANCE
TABLE 096. VUZIX: PRODUCT PORTFOLIO
TABLE 097. VUZIX: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 097. CYBERGLOVE SYSTEMS: SNAPSHOT
TABLE 098. CYBERGLOVE SYSTEMS: BUSINESS PERFORMANCE
TABLE 099. CYBERGLOVE SYSTEMS: PRODUCT PORTFOLIO
TABLE 100. CYBERGLOVE SYSTEMS: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 100. LEAP MOTION: SNAPSHOT
TABLE 101. LEAP MOTION: BUSINESS PERFORMANCE
TABLE 102. LEAP MOTION: PRODUCT PORTFOLIO
TABLE 103. LEAP MOTION: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 103. SIXENSE ENTERPRISES: SNAPSHOT
TABLE 104. SIXENSE ENTERPRISES: BUSINESS PERFORMANCE
TABLE 105. SIXENSE ENTERPRISES: PRODUCT PORTFOLIO
TABLE 106. SIXENSE ENTERPRISES: KEY STRATEGIC MOVES AND DEVELOPMENTS

LIST OF FIGURES

FIGURE 001. YEARS CONSIDERED FOR ANALYSIS
FIGURE 002. SCOPE OF THE STUDY
FIGURE 003. AUGMENTED REALITY AND VIRTUAL REALITY MARKET OVERVIEW BY REGIONS
FIGURE 004. PORTER'S FIVE FORCES ANALYSIS
FIGURE 005. BARGAINING POWER OF SUPPLIERS
FIGURE 006. COMPETITIVE RIVALRYFIGURE 007. THREAT OF NEW ENTRANTS
FIGURE 008. THREAT OF SUBSTITUTES
FIGURE 009. VALUE CHAIN ANALYSIS
FIGURE 010. PESTLE ANALYSIS
FIGURE 011. AUGMENTED REALITY AND VIRTUAL REALITY MARKET OVERVIEW BY COMPONENT
FIGURE 012. HARDWARE MARKET OVERVIEW (2016-2028)
FIGURE 013. SOFTWARE MARKET OVERVIEW (2016-2028)
FIGURE 014. AUGMENTED REALITY AND VIRTUAL REALITY MARKET OVERVIEW BY DEVICE TYPE
FIGURE 015. HEAD MOUNTED DISPLAY MARKET OVERVIEW (2016-2028)
FIGURE 016. HEADS UP DISPLAY MARKET OVERVIEW (2016-2028)
FIGURE 017. HANDHELD DEVICES MARKET OVERVIEW (2016-2028)
FIGURE 018. STATIONARY AR SYSTEMS MARKET OVERVIEW (2016-2028)
FIGURE 019. SMART GLASSES MARKET OVERVIEW (2016-2028)
FIGURE 020. OTHERS MARKET OVERVIEW (2016-2028)
FIGURE 021. AUGMENTED REALITY AND VIRTUAL REALITY MARKET OVERVIEW BY INDUSTRY
FIGURE 022. GAMING MARKET OVERVIEW (2016-2028)
FIGURE 023. MEDIA & ENTERTAINMENT MARKET OVERVIEW (2016-2028)
FIGURE 024. AUTOMOTIVE MARKET OVERVIEW (2016-2028)
FIGURE 025. RETAIL MARKET OVERVIEW (2016-2028)
FIGURE 026. HEALTHCARE MARKET OVERVIEW (2016-2028)
FIGURE 027. EDUCATION MARKET OVERVIEW (2016-2028)
FIGURE 028. MANUFACTURING MARKET OVERVIEW (2016-2028)
FIGURE 029. OTHERS MARKET OVERVIEW (2016-2028)
FIGURE 030. NORTH AMERICA AUGMENTED REALITY AND VIRTUAL REALITY MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 031. EUROPE AUGMENTED REALITY AND VIRTUAL REALITY MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 032. ASIA PACIFIC AUGMENTED REALITY AND VIRTUAL REALITY MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 033. MIDDLE EAST & AFRICA AUGMENTED REALITY AND VIRTUAL REALITY MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 034. SOUTH AMERICA AUGMENTED REALITY AND VIRTUAL REALITY MARKET OVERVIEW BY COUNTRY (2016-2028)

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Frequently Asked Questions :

What would be the forecast period in the Augmented Reality and Virtual Reality Market research report?

The forecast period in the Augmented Reality and Virtual Reality Market research report is 2024-2032.

Who are the key players in the Augmented Reality and Virtual Reality Market?

Google (US), Microsoft (US), Sony Group Corporation (Japan), META (US), SAMSUNG (South Korea), HTC Corporation (Taiwan), Apple Inc. (US), PTC Inc. (US), Seiko Epson Corporation (Japan), Lenovo (China), Wikitude, a Qualcomm company (Austria), EON Reality (US), MAXST Co., Ltd. (South Korea), Magic Leap, Inc. (US), Blippar Group Limited(UK), Atheer, Inc (US), Vuzix (US), CyberGlove Systems Inc. (US), Leap Motions (Ultraleap) (US), Penumbra, Inc. (US)XX, and Other Major Players.

What are the segments of the Augmented Reality and Virtual Reality Market?

The Augmented Reality and Virtual Reality Market is segmented into By Technology Type, By End-user Type, By  application, By Device, By Component and region. By Technology Type, the market is categorized into Augmented Reality (AR) and Virtual Reality (VR). By End-user Type, the market is categorized into Commercial and Consumer. By application, the market is categorized into Gaming, Media & Entertainment, Real Estate, Education, Retail, Healthcare, Engineering and Others. By Device, the market is categorized into Head Mounted Display, Handheld Devices, Head-up display, Smartglasses and Others.By Component, the market is categorized into Hardware, Display, Processor, Sensors, User interface ICs, Power Management ICs, Others , Software and Services. By region, it is analyzed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain, etc.), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).

What is the Augmented Reality and Virtual Reality Market?

The augmented reality (AR) and virtual reality (VR) market comprises the rapidly growing field that involves the development of technologies allowing for the realistic interaction with objects in digitally-generated environments. Augmented reality is the technology under which digital information is superimposed over real-world environment, thus bringing some sense of reality in it by embedding it with virtual reality, generally, using smart phones or AR glasses. While augmented reality overlays digital images and data on top of the real world, embracing features of a physical environment, virtual reality generates completely computer generated environments that are commonly accessed via a headset and allow the user to indirectly interface with artificial environments. The AR/VR hardware market includes headsets, sensors, and input devices like controllers, gloves, and others, while the software market covers games, entertainment, learning applications in healthcare, business training as well as across numerous other industries. Leveraging technology and as usage of AR and VR applications becomes more widespread across sectors, the market for both technologies also continues to grow, providing new and exciting experiences and applications for consumers globally.

How big is the Augmented Reality and Virtual Reality Market?

Augmented Reality and Virtual Reality Market Size Was Valued at USD 34.80 Billion in 2023, and is Projected to Reach USD 94.96 Billion by 2032, Growing at a CAGR of 11.80% From 2024-2032.